Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- JPMorgan Chase poached a trio of executives from Goldman Sachs, Wells Fargo, and Google to focus on digital banking.
- Merrill Lynch's decision to halt financial advisor trainees from reaching out to prospective clients is hurting the group's morale.
- The future of WFH could be filled with uncertainty. Nicholas Bloom, an economics professor at Stanford University, explains what to expect.
Like the newsletter? Hate the newsletter? Feel free to drop me a line at [email protected] or on Twitter @DanDeFrancesco.
JPMorgan Chase poached a top Marcus exec along with key hires from Wells Fargo and Google to support a 'huge agenda' for digital banking
Goldman Sachs
JPMorgan Chase nabbed three new executives who will bolster its digital-banking efforts. One of the hires is Sonali Divilek, a key executive at Goldman Sachs' Marcus.
Merrill Lynch's advisor training program is on month 9 of a ban on reaching out to prospective clients. Insiders say morale is taking a big hit.
A man walks near a Bank of America branch in New York's Times Square Decemeber 11, 2008.
REUTERS/Brendan McDermid
REUTERS/Brendan McDermid
Merrill Lynch's massive pipeline for financial advisors has faced issues, and it's weighing on trainees' morale. Get the full scoop here.
Brevan Howard hires ex-Point72 CTO Singh as it ramps up its 'Alpha Strategies' systematic trading fund
Ringo Chiu/ZumaPresses
Brevan Howard hired Gurpreet Singh as CTO of its Alpha Strategies fund. Read more about the hire.
A phone call from Coinbase CEO Brian Armstrong the night before a $100 million deal left one VC feeling 'nauseous.'
IVP
The night before submitting a $100 million term sheet, IVP's Tom Loverro received a call from Coinbase CEO Brian Armstrong, who told him Ethereum had crashed. Now, as Coinbase prepares to go public, IVP's stake could be worth as much as $3.33 billion. Get the full rundown here.
America's best work-from-home expert is bracing for turmoil
Elizabeth Viggiano for Insider
Nicholas Bloom, an economics professor at Stanford University, is warning that the future of WFH could be filled with uncertainty. In our exclusive report, he offers advice for corporate America to navigate the turbulence.
Goldman Sachs' Marcus is dealing with an exodus of talent. These are the 14 execs left guiding the digital bank.
LinkedIn; Goldman Sachs
After a rash of departures, these are the executives left running the show at Goldman Sachs' Marcus. Get the full rundown here.
Odd lots:
A $1.2 Million Bank Error Buys a House, and an Arrest, Officials Say (The New York Times)