Young Wall Street’s diversity champions – Inside SVB Leerink’s hiring blitz – Goldman and BlackRock pay bumps

Hello readers,
Happy Saturday, and welcome to Insider Finance. Here’s a rundown of trending stories from the past week:
Meet four up-and-comers making Wall Street more inclusive.SVB Leerink is luring top bankers to build a new dealmaking powerhouse.BlackRock is giving staffers 8% pay rises, while Goldman Sachs hinted at a raise for junior bankers.Top Black women money managers share their stories.If this email was forwarded to you, sign up here to get your daily dose of the stories dominating banking, business, and big deals.
How SVB Leerink is luring top bankers with juicy pay and a big opportunity to build a new dealmaking powerhouse

Samantha Lee/Insider

SVB Leerink has hired a rash of senior bankers this year.
Both the quantity and quality of the hires have grabbed Wall Street’s attention. Analysts and veteran executive recruiters said the firm has in short order laid the groundwork to build a competitive full-service healthcare and technology bank.
Read the full story here.
8 of the most powerful Black women in money management on microaggressions, mentors, and finding their voice on Wall Street

From left: Kim Lew, president and CEO of the Columbia Investment Management Company, Dekia Scott, CIO of Southern Company, Tina Byles Williams, CEO CIO and Founder of Xponance, and Michaela Edwards, partner and portfolio manager at Capricorn Investment Group.
Columbia Investment Management Company; Southern Company; Xponance; Capricorn Investment Group; Samantha Lee/Insider

Institutions control $70 trillion in assets – and most of the people who manage that money are white men.
Insider spoke with eight Black women who broke through barriers and now hold some of the most high-profile jobs in finance. They talked about how they handled microaggressions and how they learned to thrive in their jobs.
Read their stories here.
Morgan Stanley’s CEO wants employees back to the office by Labor Day, but the bank just told its newest crop of juniors they can head in as early as this month

Andrew Burton/Getty Images; Samantha Lee/Insider

Morgan Stanley set a date for its newest employees to head into the office.
New US-based full-time associates in the investment-banking and global-capital-markets divisions will be eligible to go to the office starting on July 27. For new full-time analysts, the date is August 3, people familiar with the matter told Insider.
Here’s the full rundown.
These 4 young people are working to make Wall Street more inclusive by mentoring and empowering others

From left to right: Armani Nieves, Alisha Chowdhury, Elizabeth Jimenez, and Allie Reyes
Marianne Ayala/Insider

These four young people are mentoring and carving out paths for the next generation in financial services.
The leaders who champion diversity and inclusion told us how they’re transforming the industry.
Read about their work here.
Investors are craving ‘young and hungry’ portfolio managers- and new hedge funds are launching to reap the rewards

Blue Origin

Starting in July 2020, there have been three consecutive quarters where more funds were launched than were liquidated – an impressive stat since fundraising meetings and conferences ground to a halt during the throes of the pandemic.
Click here to read the entire story.
Other stories readers loved this weekMarketAxess and Tradeweb are disrupting how bonds are traded, and it’s forcing banks to upgrade their techA battle is brewing in the buy now, pay later space between Affirm, Klarna, and Afterpay and big players like Apple and PayPalAlternative asset managers have been assembling big distribution teams to reach small investors. Here’s recent hires and who’s in charge.Wall Street’s heavyweights wasted no time pouncing on Credit Suisse’s prime brokerage painMust-know promotions, exits, and hires at firms like Credit Suisse, JPMorgan, and BarclaysRead the original article on Business Insider

Source: https://www.businessinsider.com/top-finance-stories-svb-hiring-goldman-blackrock-compensation-diversity-2021-7

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