Goldman raises salaries – hedge funds take on VCs – BoA’s top tech execs

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On the agenda today:

Let’s begin.


Goldman Sachs is raising salaries for some young investment bankers

David Solomon


Michael Kovac / Getty Images


Second year analysts will now earn $ 125,000 in base pay before a bonus, and first year associates will now earn $ 150,000. Here’s what we know so far.


Meet the seven people reporting to Bank of America’s top tech manager

Bank of America power players Tony Kerrison, Cathy Bessant and Sumeet Chabria cut out on a red background.


Bank of America; Skye Gould / Insider


Cathy Bessant is Chief Operations and Technology Officer at Bank of America, overseeing a $ 14 billion annual technology budget and 95,000 employees worldwide. These are the seven key executives who report to Bessant.


Hedge funds take on venture capitalists to support the best startups

Empathetic consultants


Empathetic consultants


Hedge funds turn to private markets to drive returns – and use quantitative strategies, data science, and partnerships to get a head start on investments. We spoke to investors from Two Sigma, DE Shaw, and Point72 who told us about it how to find the best startups.


Wealthy executives take out loans to pay taxes on stock market profits

Happy stock market investor


Caroline Purser / Getty Images


Instead of getting into their portfolios, executives borrow to pay taxes – and that’s what fueled Morgan Stanley’s lending business. The Head of Executive Services at Morgan Stanley explains why these loans also make sense for the rich.


These 21 employees ensure enormous growth in family offices

Todd Angkatavanich, Natasha Pearl, Bill Bjiesse and Lisa Featherngill on a pink background.


Courtesy Todd Angkatavanich; Courtesy Natasha Pearl; Courtesy Bill Bjiesse; Courtesy Lisa Featherngill; Shayanne Gal / Insider


With wealth growing around the world, more and more people want to set up family offices to take control of their finances. We spoke to over a dozen industry insiders to put together a list of consultants, accountants, lawyers, and more to start a new family office. Get to know them here.


Wall Street’s return to work saves NYC

NEW YORK, USA - MARCH 25: Tourists line up to snap a picture of the Charging Bull are seen during the COVID-19 pandemic in New York City, USA on March 25, 2021.  (Photo by Tayfun Coskun / Anadolu Agency via Getty Images)


Anadolu Agency / Getty Images


Coastal responses to economic reopening have contrasted sharply: In New York City, the urge from financial giants to return to their offices is reviving neighborhoods that closed for much of 2020 while Big Tech is leaving Silicon Valley idling . More about the different economic comebacks on the coasts.


Wall Street has a new uniform

Lululemon


Facebook / Lululemon


The pandemic has destroyed formal dress codes. Now Wall Street employees are turning to Lululemon, Untuckit, and other athleisure brands for their return to the office. Take a look at the new Wall Street outfit.


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