D1's startup investing spree — JPMorgan poaches Lyft exec — Family offices brace for regulation

 
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Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:

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Secretive family offices flew under the regulatory radar for years. Now in the Archegos aftermath, the ultrarich are bracing for unwanted attention.

gary gensler SEC family offices 4x3After the Archegos fiasco, family offices are preparing for the possibility of tougher regulation — with some going as far as coordinating with each other on how to avoid new scrutiny.

More on that here.


$21 billion hedge fund D1 Capital has been on a private investing spree. Here are 24 companies it's backed in 2021 from unicorns like Squarespace to corporate card startup Ramp.

Daniel SundheimDan Sundheim's D1 Capital has been making private investments in startups since its inception in 2018. We listed all the private investments it announced publicly in 2021, which you can see here.


Wells Fargo's private wealth head is leaving after less than two years in the role just as the bank's ultra-wealthy unit was revamped

Wells Fargo chief executive Charlie Scharf

Wells Fargo's private wealth head Julia Wellborn is leaving the firm, Insider has learned. Learn more here.


 JPMorgan CEO Jamie Dimon is lurking on Instagram under a fake username

jamie dimon jpmorganGood luck finding Jamie Dimon on Instagram — the CEO is using a finsta, or a fake Instagram account, to use the app. Get the scoop on Dimon's covert account.


Real estate data firm Cherre raises $50 million as everyone from landlords to investors is desperate to quantify post-pandemic building needs

L.D. Salmanson, CEO and co-founder of Cherre

Cherre's latest funding comes as investors are looking to big data to guide them through changing office and home norms. Get the full rundown here.


JPMorgan just nabbed a Lyft engineering exec who also spent more than a decade at Google to head up tech at its corporate and investment bank

JP MorganJPMorgan named Eisar Lipkovitz its new chief information officer of its corporate and investment bank. More on the new hire.


A frothy SPAC market and a damning article clued short seller Spruce Point Capital in on its newest target: bioplastics company Danimer

Ben AxlerDanimer Scientific is riddled with red flags, says short-seller Ben Axler. We spoke with Axler, who told us why he made Danimer his next target.


Citi shakes up its US credit and debt capital markets business and names investment grade loan veteran Carolyn Kee as chair

Citi CEO Jane FraserCiti is combining its US credit business with debt capital markets with a series of internal moves — including promoting Carolyn Kee to chair of the new group. More on that promotion.


Deutsche Bank is letting its US investment banking interns choose whether they go back to the office or not this summer

The Internship

Drew Goldman, Deutsche Bank's global head of investment banking advisory and coverage, explains the bank's decision to let interns pick if they want an in-person or virtual internship. Find out the details.


Odd lots:

An HSBC manager has vowed to stop putting up with 's*** at work' after having a heart attack (Insider)

Credit Suisse Raises $2 Billion as CEO Cuts Hedge Fund Unit (Bloomberg)

MUFG Weighs Cutting Americas Office Space in Hybrid-Work Era (Bloomberg)

UBS Streamlines Wealth Mgmt Structure, Shuffles Execs (Financial Advisor IQ)

Nearly 400,000 users of a Turkish crypto exchange fear millions of dollars may be stolen after its CEO abruptly fled the country, reports say (Insider)

SmartRent is the latest real-estate technology startup to go public via a SPAC (Insider)

Wall Street's Overlooked Minority Is Waiting to Be Heard (Bloomberg)

 
 
 
 
 
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