Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go – click here for iOS and here for Android.
On the agenda today:
- Zoom nabbed a JPMorgan tech banker.
- Citi's head of diversity wants to shake up Wall Street.
- Bank of America revealed its new org chart after a massive leadership shakeup.
Let's get started.
Zoom just nabbed a JPMorgan tech banker
After 16 years with JPMorgan, Sanjay Rao has joined video-conferencing company Zoom to head its M&A strategy. The tech investment banker joins following a year of record-breaking growth for Zoom. More on Rao, the latest Wall Streeter to jump to tech.
Citi's new head of diversity wants to shake up Wall Street
For Insider's first installment of The Equity Talk, we sat down with Erika Irish Brown, Citi's head of DEI. Brown discussed how she's measuring the effect of DEI at the bank - see what she told us here.
Bank of America reveals its new org chart
Bank of America announced sweeping changes to its leadership team earlier this month, with more than 15 leaders seeing their roles change. We've got two charts breaking down BofA's new leadership, and who's running which business lines.
BofA's CEO detailed the firm's approach to tech and ops budgeting
Bank of America's Brian Moynihan explained the "constant fight" his new tech and ops leaders will face when cutting costs in their $14 billion budget. Even though the bank has cut the budget down by billions, Moynihan said it's still seeing client volumes grow. Here's what else he said.
Procore just agreed to acquire Levelset
Procore, a cloud-based construction-management software company, announced it will buy software firm Levelset for $500 million. The deal will help Procore solve one of the construction industry's biggest problems: getting paid. Here's what you need to know.
A top European bank research analyst is leaving Goldman Sachs
Jernej Omahen, Goldman Sachs' head of research for its European financial institutions group, is leaving the bank. Omahen, a partner and 20-year Goldman veteran, announced his plans to retire this week, marking another partner exit from the firm. What we know so far.
ExodusPoint has poached two portfolio managers
ExodusPoint Capital is looking to supercharge its macro trading business - and has poached two star portfolio managers to do so. Pablo Duran Steinman, head of macro at the family office of George Soros, will join the $14 billion fund, as will Eisler Capital's Mukesh Murarka. More on that here.
On our radar:
- When he first joined Goldman Sachs, Jernej Omahen had 42 interviews in three days, according to eFinancialCareers. More on his interview process.
- Page Six reports that billionaire John Paulson and wife are in the midst of what could be one of the most expensive divorces of all time.
- Facebook's CTO is stepping down. Here's everything we know about his departure.