Investment banks are on a hiring spree and there isn’t enough young talent to go around

Hello, readers!
Happy Saturday, and welcome to Insider Finance. Here’s a rundown of our must-know Wall Street stories from the past week:
The fight for junior investment bankers is so fierce that one recruiting firm has set up a "SWAT team" for hiring Check out our list of the rising stars of equity research Current and former Goldman Sachs partners weigh in on CEO David Solomon Hedge fund giants are raiding investment banks to poach volatility traders – we tracked all the moves Return-to-office updates for JPMorgan and Bank of AmericaThese are the fintech headhunters to know If this email was forwarded to you, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.
Meet the rising stars of equity research, up-and-comers making calls on everything from the next big electric-car maker to the return of live events

From left to right: Edison Yu, Emily Chieng, Rajat Gupta, and Aga Zmigrodzka
Courtesy of Deutsche Bank; Courtesy of Goldman Sachs; Courtesy of JPMorgan; Courtesy of UBS; Marianne Ayala/Insider

Meet Insider’s lineup of up-and-coming talent in the world of equity research. We selected analysts 35 and under who cover a wide range of sectors, from gaming to natural gas. See the full list here.
Goldman Sachs CEO David Solomon is shaking up the bank with his hard-driving style. Here’s what’s pushing a herd of top execs to the exits.

"David’s management style is pretty simple: Ask a lot of questions, work with teams to set realistic goals, and then hold people accountable for results," said Jake Siewert, a Goldman spokesperson, about David Solomon.
Paul Morigi/Getty Images for Fortune; Kena Betancur/Getty Images; Samantha Lee/Insider

Solomon has steered the bank to blowout profits and a record stock price. But with partners quitting and burnout soaring, some insiders said the executive’s hard-charging style has come at a cost. Read the inside story here.
JPMorgan told US workers it wants them coming into the office on a ‘consistent rotational schedule’ by early July

Jamie Dimon, JPMorgan’s CEO.
Kena Betancur/AFP via Getty Images

Time is running out for remote work for some on Wall Street as the biggest US bank has unveiled its most detailed timeline yet about returning to the office.
Read more: Bank of America is asking employees to voluntarily disclose vaccine statusHedge-fund giants like Citadel and Millennium are raiding investment banks for volatility traders

Phil McCarten/Reuters; Lucy Nicholson/Reuters; Erin Scott/Reuters; Michael Kovac/Getty Images; Denis Balibouse/Reuters; Samantha Lee/Insider

Buy-side trading firms have poached a slew of star derivatives traders. The defections, which follow blowout volatility trading hauls in 2020, leave some banks shorthanded.
Get the full rundown of all the moves here.
Banks are racing to staff up as deal work surges, and one recruiting firm has even formed a ‘SWAT team’ focused on hiring associates and VPs

Samantha Lee/Business Insider

Investment banks are seeking backup as they struggle to retain junior staffers while deal work surges. High rates of attrition and fierce competition are sparking a talent war for young bankers. As one recruiter put it, there’s "just not enough bodies in the market." Get all the hiring market intel here.
These 10 headhunters are helping fintechs like Coinbase, Stripe, and SoFi land big hires and stand out in the startup tech talent war

Marianne Ayala/Insider

Fintechs are increasingly relying on outside recruiting firms to attract top talent. Insider asked startups, venture capitalists, and industry insiders to nominate the top fintech headhunters in the US.
The list includes recruiters who work on everything from early-stage startups to mature financial firms with a focus on tech. Keep reading here.
Wall Street people moves roundupBank of America’s head of rates sales in the US is leaving the firmCitadel hired a new portfolio manager who’s an equity volatility expertRead our full rundown of this week’s hires, promotions, and exits hereOther stories readers loved this week London’s finance sector isn’t rushing back to the officeApollo’s dealmaking went into overdrive in the first quarterGoldman Sachs President John Waldron laid out three ways the bank is aiming to relieve junior workloadsBlackstone’s Jon Gray is preparing for higher inflation. One way he’s considering tackling it is by raising rents on the thousands of apartments.Morrison & Foerster is starting to track its lawyers’ calls, emails, and website visits to squeeze out billable hoursAdvisors to the wealthy are fielding a frenzy of calls from clients worried about estate planning and taxesRead the original article on Business Insider

Source: https://www.businessinsider.com/finance-stories-week-april-26-david-solomon-profile-banker-recruiting-2021-5

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