Inside BlackRock's powerful consulting arm — Fintechs serving the underserved — Novogratz talks Wall Street's crypto push

 
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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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Inside BlackRock's powerful consulting arm: How a tiny business advising world powers helped shape and propel the most influential money manager

BlackRock executive Charles Hatami, BlackRock CEO Larry Fink, and former BlackRock executive Craig Phillips on top of a BlackRock logo pattern and a black background

BlackRock's advisory arm might not make a huge impact to the firm's bottom line at first glance, but the discrete, small team holds immense value to the world's largest money manager. 

Check out our exclusive report.


10 fintechs transforming how Black, Latinx, immigrant, and LGBT+ communities bank, invest, and borrow

Asya Bradley of First Boulevard, Donald Hawkins of First Boulevard, Toni Harrison of Fair, and Dennis Cail of Zirtue on a green background with symbols of banks and money.

A new breed of financial startups is on the rise. Many seek to reach customers based on their membership within specific communities — from Black Americans to Muslim investors to those who identify as LGBT+ — who have long been underserved by mainstream financial institutions.

We spoke to 10 of the executives leading the fintechs that serve the underserved.


Deutsche Bank's top tech exec details early wins from Google Cloud partnership and why it signals a shift in how Wall Street deals with vendors

Bernd Leukert, Deutsche Bank

Deutsche Bank is developing new tech in native cloud environments thanks to a Google Cloud partnership. Read more about their collaboration and early successes.


Bank of America's top information security expert highlights how a focus on neurodiversity has helped recruiting, collaboration, and communication across the firm

Craig Froelich, Chief Information Security Officer, Bank of America

Bank of America CISO Craig Froelich takes us inside the neurodiversity hiring push he's at the helm of, and how it benefits the entire bank. Learn more here.


Billionaire and former hedge fund manager Mike Novogratz explains why institutional adoption of crypto is set to 'explode'

2014 05 15T120000Z_1961244475_GM1EA5G06BQ01_RTRMADP_3_USA.JPG

At an event last week, Novogratz explained what's slowing down institutions from investing in crypto. Here's what he said.


6 pitch decks that fintechs looking to disrupt banking, wealth management, and cybersecurity used to raise millions

dollar bills money

Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders sold their vision.


Jane Fraser just detailed plans for building out Citi's retail bank in the US, and it includes leveraging co-branded cards with partners like American Airlines and Home Depot

jane fraser

Citi CEO Jane Fraser said "there is no silver bullet," but mapped out ways the bank plans to make strides with its US retail bank. Here's what else she said.


$58 billion Two Sigma just poached a top engineer from Google to be its new head of data engineering

David Siegel, cofounder of Two Sigma, in New York in 2017.

Two Sigma has hired Google's Carter Clark Page as its new head of data engineering. Here's what else we know.


RBC has poached a senior credit analyst from UBS for its growing junk bond and distressed trading desk

RBC

Srihari Rajagopalan is joining RBC after eight years at UBS, sources told Insider. Here what we know.


Must-know promotions, exits, and hires at firms like Citi, Goldman Sachs, Credit Suisse, and Jefferies

BreanneMadigan_Headshot

Breanne Madigan joins TradeBlock as CEO. Credit asset manager Eagle Point appoints Nate Morse as head corporate trader.  Check out all the top people moves across Wall Street


Odd lots:

Ex-Enron CEO taps McKinsey colleagues for energy investment venture -sources (Reuters)

A legendary media investor who was an early Hulu backer shares where he's placing his next big bets and why he thinks Hollywood is over (Insider)

Credit Suisse's global head of transformation is joining Microsoft (eFinancialCareers)

Rich people are freaking out about estate-tax changes that could cost them millions, and their lawyers can't hire enough people to keep up (Insider)

A federal judge who has criticized the SEC for lenient deals with Citi and Bank of America maps out 3 ways to fix the 'broken' US justice system (Insider)

Private-Equity Group Reaches Deal to Buy Medline for Over $30 Billion (WSJ)

 
 
 
 
 
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