The best stories that defined Wall Street in 2021

Wall Street has started 2021 on uncertain grounds, with the deadly coronavirus wreaking havoc around the world. the

Federal Reserve

has helped the financial sector by keeping interest rates near zero, leading to a mad rush for cheap loans (and expensive advisers) to effect mergers and acquisitions.

However, the business boom has not always been easy to manage, especially for employees who struggle to shut down their computers in the age of remote working. Insider has chronicled the seemingly endless stories of burnout on Wall Street – from private equity giant Apollo to Goldman Sachs and Credit Suisse. There were complaints even by employees at Goldman Sachs’ consumer bank Marcus – a relatively cushy gig compared to the investment bank – where employees were quitting en masse.

Big investors who rushed to take advantage of low rates by partnering with private equity firms, who use loans to buy businesses, found themselves caught in a nasty power struggle, The insider reported.

Wall Street executives have started calling on workers to return to the office after the vaccines are rolled out. While some CEOs, like Goldman’s David Solomon, have taken hard-line positions in calling workers back to their desks, many employees have continued to reap the benefits of hybrid work.

Mothers on Wall Street – who desperately need a break after performing a dual role of teaching their children and working during the early days of the pandemic – have expressed hope that the hybrid schedules will continue, as de many young people.

But some Gen Z bankers said they wanted more than the ability to take their work home and tested their ability to turn off their phones at the end of the day or while on vacation. This has led to workplace tensions over the 7pm drinks and midday jogs, with young people saying they just want to see the sun every now and then.

The rise of speculative trading has been another tricky issue for Wall Street in 2021. Young bankers have gotten rich from crypto this year, as it is an area of ​​finance that is still not overseen by banking services. compliance of their companies. Hedge funds, however, have been caught off guard by hordes of retail traders using no-cost trading apps like Robinhood to buy small stocks.

The so-called “same stock” revolution continues to impact the way some short sellers, who bet on falling stocks, do business. It has also changed the way some businesses interact with Wall Street. Movie chain AMC, for example, pulled out of a meeting last summer with Wall Street research analysts because its new investor base is mostly made up of irreverent day traders, not investors. institutional.

Insider also wrote of a wave of promising Wall Street executives trying to make their mark, from Charlie Scharf, the CEO of Wells Fargo who made things happen following a series of scandals, to Jon Gray. Fast, Rising, Hard Blackstone -Load the President and COO.

We also reported on the cultural challenges facing brokerage firm Merrill Lynch and asset management giant Pimco, which are pushing back complaints of discrimination.

Along the way, we introduced readers to the industry’s most compelling rising stars, including hedge fund founder Grant Wonders, 31, whose excellent track record has helped him raise over $ 1 billion. dollars for his new fund, Voyager, and Jim Mooney, the heir apparent to Seth Klarman’s $ 31 billion investment giant Baupost.

See more here:

Apollo’s culture of hard driving is extreme, even by Wall Street standards, and it burns among young workers. Here’s why a salary of over $ 450,000 and rules to ban weekend emails aren’t enough to satisfy them.

Confessions of exhausted junior bankers on Wall Street: 5 current and former analysts at companies like Goldman Sachs and Credit Suisse explain their daily schedules

Burnout, missed deadlines and brain drain: how Goldman Sachs’ Marcus struggles to live up to his lofty consumer banking ambitions

Private equity firms are locked in a power struggle with their investors, and lawyers are raising money no matter what

5 Wall Street moms talk about going back to work and what the pandemic has taught them – from doing laundry at 2 a.m. to watching a kid take their first steps

In Wall Street’s culture war with Generation Z

Young Wall Streeters are pumping their bonus checks into crypto. Here’s a look at how they transact – and what their businesses’ compliance departments have to say about it.

Reddit’s calculation had short sellers jostling each other. Now they’re back with a vengeance.

Adam Aron’s magical touch with rowdy online traders may have saved the world’s biggest theater chain

Wells Fargo CEO Charlie Scharf reshuffled the bank’s leadership with nearly 90 hires of senior executives from JPM, BNY and other companies. Here’s our exclusive look at the amazing redesign.

Jon Gray is the future of Blackstone. 50 insiders reveal how the super-investor consolidated his power, ousted rivals and remade the company in his golden boy image.

Merrill Lynch Financial Advisors Explain Why They Are Leaving ‘Mother Merrill’ Enormously As 107-Year-Old Broker Impresses Wall Street With Record Financial Results

Pimco boss Manny Roman was supposed to usher in a new era for the $ 2.2 trillion bond giant. But allegations of discrimination and bad press weigh on the firm, and some clients are starting to lose patience.

Rising Stars of Wall Street 2021: Meet 25 young talents in investing, trading and trading at companies like Blackstone, Tiger Global and Goldman Sachs

Grant Wonders took Viking by storm and became one of the most profitable analysts in history. Now the 31-year-old is making Voyager Global his own heavyweight.

Meet Jim Mooney, the most powerful man you’ve never heard of at $ 31 billion Baupost and heir apparent to value investing titan Seth Klarman

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