Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- Warburg and Carlyle execs detail the role M&A will play in Neogov's future following an investment that values the HR software provider at more than $1 billion.
- Credit Suisse analysts identify the most likely buyers and sellers amongst money managers.
- Rob Rooney, Morgan Stanley's top tech exec, explains why the bank tapped Microsoft to be its key partner as it transitions to the cloud.
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Neogov just nabbed an investment from Carlyle and Warburg valuing it at more than $1 billion. Execs at the PE giants detail why M&A will be a big part of the HR software's growth plans.
The two private-equity giants are spearheading a large investment into Neogov, a firm that helps public-sector entities such as local governments hire, train, and manage their employees.
Here are the money managers Credit Suisse says are likeliest buyers and sellers as analysts expect more M&A
Credit Suisse analysts have released a new list of likely buyers and targets - and they see UBS and State Street among possible acquirers, and Janus Henderson as a likely seller. Get their full predictions here.
Morgan Stanley is partnering with Microsoft's public cloud. Rob Rooney, the Wall Street bank's top tech exec, told us why.
Rob Rooney, Morgan Stanley's top tech executive, explained why the bank tapped Microsoft to be a key partner in its cloud journey. Here's how the bank is approaching adopting the tech.
Mega law firm Dentons wants to build a top-flight consulting business, and it just signed a deal to launch a new standalone firm
Dentons is starting its consulting firm by acquiring the Albright Stonebridge Group in hopes of competing with McKinsey, BCG, and parts of the Big Four. What you need to know.
Citi just nabbed a Goldman partner to lead a newly-formed 'super group' focused on dealmaking in healthcare and wellness
Citi just hired Goldman's Chuck Adams to lead a new "super group" focusing on healthcare, consumer, and wellness. More on Adams' new position.
Chamath Palihapitiya's SPAC beat out two others for a deal with SoFi. Now his stake in the company is worth $750 million.
It was a "close call" between Palihapitiya's Social Capital and two other SPAC finalists, SoFi CEO Anthony Noto told Insider. Get the details on the decision.
Rich investors are feeling guilty about their wealth. A top UBS exec details how the firm is reacting.
UBS clients indicated in a survey they feel guilty about their wealth during the pandemic, and it's pushing them to show more interest in charitable donations, according to Jason Chandler, the firm's head of US wealth management. Here's what else he said.
JOIN OUR LIVE EVENT JUNE 24: Execs from Deutsche Bank, AllianceBernstein, and Accenture will break down how Wall Street is navigating the return to work
Insider finance reporter Reed Alexander will moderate a live webinar event on Thursday, June 24, at 1 p.m. ET/10 a.m. PST, in which three top financial-services execs will break down what the return to work looks like for Wall Street. Sign up here.
Odd lots:
Credit Suisse top financial institutions banker in Europe to join Jefferies - source (Reuters)
Building the New Merrill Lynch: Where Bank of America's Long Game Is Leading (Barron's)
Overdraft Fees Are Getting the Boot at Ally Financial (WSJ)
Lazard CEO Says Remote Work Damages Prospects for Young Bankers (Bloomberg)
Juul Finds Hell Hath No Fury Like an Army of Really Rich Parents (Bloomberg)
Banks just adopted a new format for their interviews (eFinancialCareers)