Bankers have been plenty busy as they work on big tie-ups and look to get IPOs across the line before the end of the year.
Here's a recap of some of the big news this week:
PNC announced its planned purchase of BBVA US, the US-based arm of the Spanish lending giant BBVA, for $11.6 billion. Reed Alexander talked with insiders to learn more about how one of the biggest bank deals since the financial crisis came together. You can read the full story here.
Earned wage access — giving employees access to their wages between paychecks — has become a growing trend in recent years.
After the initial success of startups like Earnin and PayActiv, more established payroll providers like ADP and Gusto have begun to dip their toes in the EWA waters. But some employees are hesitant to use it due to concerns around privacy and sharing information about their financial situation with their employer.
For many Wall Street aspirants, a career at a top hedge fund is the holy grail. For those who succeed, compensation has the potential to eclipse nearly any other profession in the country — let alone finance.
The hedge fund industry has transformed over the past 15 years. Whereas fundamental investment strategies once ruled the day, increasingly the flow of talent and capital is shifting toward firms with sophisticated quantitative strategies and data-mining operations.
Today, most of the largest and most successful funds have significant quant operations, if not a complete emphasis on quantitative investing. Firms like AQR, Bridgewater, Citadel, D.E. Shaw, Point72, and Two Sigma vigorously compete for the most promising young financial minds — and they pay hefty sums to lure in top candidates.
Building on its existing peer-to-peer transfers, users can now split payments between groups. The app has money-management functionality where users can link bank accounts and credit cards to track spending.
In 2021, Google is also rolling out checking accounts that can be opened and managed in-app. Called Plex accounts, Google is offering users the ability to open and manage a new checking account through partnerships with 11 banks and credit unions, including Citi.