Finance

IB offer letters — Goldman return to office — Volatility-trader talent war

Hello readers,

Happy Saturday, and welcome to Insider Finance. Here’s a rundown of the must-know stories from the past week:

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We saw offer letters for investment-banking interns for summer 2022. Here are the details on 5 banks’ pay, start dates, and signing bonuses.

200 West Street the Goldman Sachs building in New York

People enter and exit 200 West Street the Goldman Sachs building in New York
Brendan McDermid/Reuters

Investment-banking summer-internship offer letters have already begun to go out for 2022 programs. Insider reviewed the details for five banks. You can get the full rundown here.


RBC Capital Markets and Guggenheim Securities announced the latest junior banker raises on Wall Street

money

Boonchai Wedmakawand/Getty Images

RBC is also mandating vacation time for vice presidents, associates, and analysts, with two five-day weeks per year in which they do not have VPN access. See all the details here.


Bank of America’s top tech exec details why 5G and 3D printing can be transformative for the bank

Bessant Photo

Bank of America’s Chief Operations and Technology Officer, Cathy Bessant
Bank of America

Bank of America’s Cathy Bessant highlighted the importance of 5G mobile broadband and 3D printing. Her fellow Bank of America tech exec David Reilly also spoke to the importance of 5G for edge cloud computing. See the full story here.


Automation is transforming how new bonds get sold, and syndicate bankers worry they’ll lose their jobs if they don’t branch out

A trader on the phone

Syndicate bankers can spend hours on the phone when a bond deal is in the market.
Yves Herman/Reuters

“Allocation via the computer is coming,” said one syndicate banker who works at a bulge-bracket investment bank. “Automation makes allocations for a bond sale more uniform, but it’s scary for bankers that focus solely on execution.” Keep reading here.


A talent war has broken out for equity derivatives traders at Wall Street’s top investment banks — here are the latest moves

headhunters and recruiters sourcing talent for wall street 2x1

Samantha Lee/Business Insider

Wall Street equity derivatives traders have become a hot commodity, and hedge funds and investment banks have been fighting to hire or retain star volatility traders. Insider is tracking the hires and departures.


Inside the network of dozens of spin-off hedge funds from billionaire New York Mets owner Steve Cohen

steve cohen hedge funds 2x1

Steve Cohen
Point72; Shayanne Gal/Insider

Steve Cohen’s decades-long career in finance has made him billions of dollars across two hedge funds and led to the creation of more than 80 other firms. Check out our interactive graphic here.


RBC dealmakers explain how investment banking is transforming as ESG becomes a hot topic with clients

Lindsay Patrick and Vito Sperduto, RBC Capital Markets

Lindsay Patrick, left, and Vito Sperduto, right.
RBC Capital Markets

Bankers have no choice but to consider ESG when advising on deals, as it’s increasingly becoming a significant part of the market. Here’s what that means for investment banks, according to two top RBC dealmakers.


Wall Street people moves roundup


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