Premium Finance 2023-03-21T13:26:25Z
A wall of directory with a business man showing up in the center frame

Why Goldman Sachs alumni are being hoovered up by elite hedge funds like Citadel and Millennium

The world's top hedge funds, from Millennium to Citadel, are filling their ranks with Goldman Sachs alumni as they grow. We chart the migration.
Premium Finance 2023-03-21T22:22:19Z
credit suisse ubs merger logos

UBS will become a Swiss wealth behemoth after buying Credit Suisse, but blending the two rivals could get awkward and messy

Ultra-rich clients are concerned that the acquisition will distract UBS leadership and impact the bank's white-glove service.
Premium Finance 2023-03-20T21:45:46Z
A man walks near the Credit Suisse bank headquarters in New York

Credit Suisse's investment bankers are so concerned about cuts, employees are being told to look for new jobs. 'They encouraged it.'

Credit Suisse's investment bankers are bracing for widespread cuts by UBS. Insider breaks down the likely winners and losers by division.
Finance 2023-03-21T20:00:00Z

The State of Payment Methods: More Choice and Economic Changes Are Affecting Consumers Spend

Although debit still reigns supreme, with consumer preferences moving toward digital, cash and checks will continue to be displaced in the US.
Finance 2023-03-21T19:30:00Z

Payment Channels and Types of Transactions

Ongoing ecommerce growth is pushing payment providers to make efficient and inexpensive digital payment solutions their top priority.
Finance 2023-03-21T19:00:00Z

Powering the Point-of-Sale: How Providers Are Building Cost-Effective Solutions

We forecast that the US point-of-sale (POS) terminal installed base will grow from 17.3 million this year to 20.2 million in 2026.
Premium Media 2023-03-21T18:44:12Z

Saudi money is flowing to Hollywood and US media, 5 years after Jamal Khashoggi's murder: 'The ice has thawed'

Entertainment and news ventures are open to do business with the Middle East despite cultural differences and protests over human rights issues and the 2018 murder of journalist Jamal Khashoggi.
Finance 2023-03-21T18:30:00Z

The Evolving Payments Purchasing Chain: How Pressures Are Changing the Ecosystem

Amid economic uncertainty, payments providers are making meaningful shifts to digitize and innovate.
Media 2023-03-21T16:08:38Z

Read 13 pitch decks that helped media and tech startups nab millions in funding to disrupt entertainment

Tech is disrupting all parts of media and entertainment, and investors are rushing to cash in.
Finance 2023-03-21T13:18:23Z

Insider is seeking nominations for its 2023 rising stars of equity research list. Here's how to apply.

We're looking to highlight talented Wall Street analysts that are giving clients top-notch insights and making a name for themselves in the process.
Finance 2023-03-21T11:11:18Z

Recruiters worldwide are inundated with calls from anxious Credit Suisse bankers seeking new jobs amid the UBS takeover, report says

Recruiters in London, New York, and Singapore have received many calls from Credit Suisse workers as UBS struck a deal to buy the bank, per Bloomberg.
Finance 2023-03-21T11:00:00Z

Swiss banking, known for its secrecy, gets put in the spotlight

Swiss banks have long been known for how much they value being discreet. Now their banking crisis is being put on the world stage.
Premium Media 2023-03-21T09:00:00Z

Inside the demise of Vice, from turning away a $3.5 billion Disney offer to a 'painful' downward spiral that has the media giant scrambling for a buyer

Vice's future will likely be determined in the coming months as shareholders and employees face a few scenarios: a sale, a breakup of assets, or a bankruptcy.
Finance 2023-03-20T21:51:42Z

JPMorgan Chase thought it had $1.3 million worth of nickel stored in a warehouse. A closer examination revealed bags of stones.

The bank kept bags of stones in a Dutch warehouse thinking they were bags of nickel that would have been worth more than a million dollars.
Finance 2023-03-20T18:21:54Z
Treasury Secretary Janet Yellen

Yellen and the Fed check in after the banking sector's rough week

Secretary Yellen emphasized its stability and endorsed the rescue efforts. The Fed gave a picture of emergency lending.
Finance 2023-03-20T17:52:32Z
Silicon Valley Bank logo with rain

Paytechs emerged mostly unscathed from the SVB fallout

Visa, Mastercard, and several paytechs said their businesses were mostly uninterrupted despite ties with the now-collapsed bank.

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Finance 2023-03-20T16:30:58Z

'Nobody has a clue what happens next': Industry insiders react to Credit Suisse's rescue takeover by UBS

On a Monday call, the overarching view from executives was that "this is very rushed," and "nobody has a clue what happens next," an insider said.
Finance 2023-03-20T15:47:19Z

UBS' dramatic takeover of Credit Suisse was the deal neither bank wanted. Here are some of the passive-aggressive digs from both sides.

UBS acquired Credit Suisse in a rescue takeover this weekend. But neither side seemed to be too happy about the outcome.
Tech 2023-03-20T15:43:00Z

Amazon is slashing 9,000 more workers amid a layoff wave that has expanded past tech to include bellwethers like Dow and 3M. Here's the full list of major US companies making cuts in 2023.

Amazon announced another headcount cut after slashing 18,000 jobs in January as waves of layoffs hit tech companies and spread to other industries.
Premium Finance 2023-03-20T12:45:02Z

I've worked on Wall Street for more than 15 years. Here are 5 ways middle managers go wrong.

Mathew C. Meade has worked for firms including JP Morgan Chase and Bank of America. He says the transition to middle management is often the hardest.
Finance 2023-03-20T12:06:33Z

How bad is the banking crisis?

Central banks, regulators and governments are rushing to save banks from collapsing. But the uncertainty is far from over.
Finance 2023-03-20T11:00:00Z

Picking up the pieces in the wake of SVB's collapse

We're more than a week removed from the fall of Silicon Valley Bank. Here's where things stand for Wall Street and tech.
Premium Finance 2023-03-19T23:59:13Z

Credit Suisse's storied investment bank is in the crosshairs as top UBS executives defend their 'emergency rescue' deal

"It's a historic day in Switzerland and a day, frankly, we hoped would not come," UBS chairman Colm Kelleher said of the Credit Suisse deal on Sunday.
Finance 2023-03-19T19:32:02Z

It's official: UBS to acquire Credit Suisse in historic rescue deal

The Swiss National Bank said in a statement Sunday afternoon that the takeover was made possible by the Swiss federal government and the Swiss Financial Market Supervisory Authority FINMA.
Finance 2023-03-19T16:00:15Z

Meet UBS CEO Ralph Hamers, a leader behind Credit Suisse negotiations who opts for open-necked shirts and wants to build 'Netflix of wealth'

The somewhat non-traditional CEO has been credited for ushering in digital innovation at both UBS and ING, where he previously worked for 30 years.
Tech 2023-03-19T12:14:00Z

Tech leaders remain oblivious to the true lessons of Silicon Valley Bank

In Insider Today's Sunday edition: Rokt's rocky workplace, the erasure of middle managers, and Silicon Valley planting the seeds for the next bubble.
Premium Tech 2023-03-19T11:50:00Z

Investors in venture funds reveal how they felt VCs handled the Silicon Valley Bank fallout: one was privately frustrated, while another was impressed

One LP said that some VCs and startup founders weren't aware of the risks of having cash at one bank, which could now lead to operational changes.
Finance 2023-03-19T11:30:00Z

Warren Buffett has been talking to the Biden White House about a possible investment in regional banks, report says

The billionaire has had "multiple conversations" with White House officials and offered advice and guidance about the crisis, Bloomberg reported.
Finance 2023-03-19T11:15:20Z

Mid-size banks want all deposits insured for 2 years to avoid 'panic' and restore confidence, report says

The Mid-Size Bank Coalition of America called on the FDIC, Treasury and the Federal Reserve to act to prevent a banking crisis, Bloomberg reported.
Tech 2023-03-19T10:02:00Z

The West was founded by whiny pioneers. Silicon Valley Bank is just the latest.

From Manifest Destiny to Big Tech, Silicon Valley Bank's crash is a case study in the how the West was spun.
Tech 2023-03-19T10:00:00Z

Caroline Ellison made $6 million at Alameda – a fraction of Sam Bankman-Fried's $2.2 billion's haul

The former Alameda CEO pleaded guilty to seven criminal charges that carry up to 110 years in prison after striking a plea deal in December.
Finance 2023-03-19T09:10:20Z

I'm a paypig who spent $1,800 of my student loan on my 'findom' fetish, but I don't regret it

A 23-year-old student pays for Skype sessions with doms and met up with one in real life. He said he enjoys women financially dominating him.
Tech 2023-03-19T09:00:00Z

Man says Apple was 'incredibly unhelpful' when he tried to regain access to his account after his iPhone was stolen and replaced with a fake

Trent said Apple's inaction despite proving his identity was "incredibly frustrating, especially because the thieves had access to everything."
Finance 2023-03-18T20:15:47Z

Switzerland may use emergency measures to expedite a deal with UBS and Credit Suisse, reports say

Swiss regulators regard a takeover deal as the only solution following the collapse in confidence in Credit Suisse this week, per the Financial Times.
Tech 2023-03-18T16:00:00Z

Who is Peter Thiel, the billionaire investor and PayPal cofounder who says he had $50 million in Silicon Valley Bank when it collapsed?

The Donald Trump supporter, who's worth $8 billion, called on startups to take their money out of Silicon Valley Bank before it collapsed.
Tech 2023-03-18T13:55:34Z

I rushed from bank to bank with my infant daughter when SVB collapsed to figure out how my startup could make payroll on time

Silicon Valley Bank's sudden crash sent Dispatch Goods cofounder Lindsey Hoell rushing to try to make payroll for her employees, with her baby in tow.
Finance 2023-03-18T13:00:00Z

My small Christian college on Wall Street is on the brink of going under. It had it coming.

The King's College in NYC has a dualistic culture that pitted some students against each other, writes Paige Hagy. Now it's having money issues.
Tech 2023-03-17T20:35:34Z

Techies on a plane celebrated after hearing a passenger whoop at the news SVB customers would get their money, VC says

Prashant Fonseka, an investor, turned off his phone's WiFi on a flight to get a break from SVB's collapse. But news can travel fast aboard a plane.
Premium Finance 2023-03-17T19:48:55Z

Wall Street keeps winning even in a banking crisis

Saviors or predators? JPMorgan, Goldman Sachs, and other banks responded to the troubles of regional banks in ways that stand to make them stronger.
Premium Tech 2023-03-17T18:00:06Z

Silicon Valley Bank's CEO and CFO were ousted but other bank executives still have their jobs — and they're wooing new customers, acting CEO told clients

Silicon Valley Bank's acting CEO is assuring big customers that it has not gutted its staff. It may not even be sold. But staff is unhappy.
Premium Finance 2023-03-17T14:40:42Z

Take a look inside Symphony's engineering hub in the south of France where employees can split time between the Alps and the French Riviera

Fintech Symphony opened an office in Sophia Antipolis in France where employees do yoga and grill on the rooftop.
Premium Finance 2023-03-17T12:46:54Z

Silicon Valley Bank was the bank for tech. Its collapse is everyone's problem.

The tech and finance industry are set to feel the impact of the fall of Silicon Valley Bank for years to come.
Finance 2023-03-17T11:00:00Z

Big banks to the rescue

After a tumultuous week in banking, the country's largest banks stepped up to calm the markets by depositing $30 billion in First Republic Bank.
News 2023-03-17T10:38:47Z

Billionaire investor Bill Ackman says US banks depositing $30 billion into First Republic creates a 'false sense of confidence'

"Spreading the risk of financial contagion to achieve a false sense of confidence in FRB is bad policy," Ackman tweeted.
News 2023-03-17T06:03:35Z

Some VC firms have started moving money back into Silicon Valley Bank, marking the latest turn in the bank's wild week

SVB was shut down by regulators on March 10 after a run on deposits. It has since been taken over by the FDIC.
Premium Finance 2023-03-16T23:16:31Z

First Republic just got a $30 billion lifeline from JPMorgan and other Wall Street giants. Here's why its problems aren't over.

The bank is hoping the infusion will restore client and investor confidence in the firm, but a sale might still be on the cards.
Finance 2023-03-16T21:19:45Z

A climate tech CEO took calls from an airplane bathroom to try and save his company when his bank collapsed

Donnel Baird, the founder and CEO of BlocPower, had to verbally confirm wire transfers out of SVB and First Republic during a transatlantic flight.
Premium Tech 2023-03-16T20:42:42Z

Panic and recrimination: Inside Silicon Valley's first real financial crisis

A VC Twitter firestorm caused an all-out bank run that led to Silicon Valley Bank's failure. Now startups and VCs are back to supporting the bank.
Premium Finance 2023-03-16T18:41:40Z

Goldman Sachs' head of recruiting shares 4 tips for applicants of its ultra-competitive summer internship

From not padding the resume to thinking 'in threes,' Goldman's Vicki Tung breaks down her top tips for scoring an internship with the elite bank.
Tech 2023-03-16T18:18:32Z

Peter Thiel said he had $50 million in a personal account at Silicon Valley Bank when it collapsed, despite telling his portfolio companies to pull their money

Some have blamed Thiel for helping to trigger the run on SVB after he told Founders Fund customers to pull deposits from the bank before its collapse.
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