Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:
- Robinhood’s IPO paperwork is public. We broke down everything from its risk factors, to its reliance on Dogecoin trading and how much it spends to get new customers.
- Branch banking is rapidly evolving. Executives overseeing more than 24,000 locations at top US banks share their predictions for the future.
- An elderly couple is suing JPMorgan over claims they were pressured into risky investments.
We’ve opened up nominations for our next class of Wall Street rising stars. We want to spotlight the standouts in investment banking, investing as well as sales and trading. Here’s how to nominate someone.
You’re invited: Join us Tuesday at 12 p.m ET for a virtual event presented by PwC, spotlighting the biggest trends CEOs will focus on in the next 12 months. Register here.
Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.
Inside Robinhood’s IPO filing
Robinhood’s paperwork for its highly anticipated IPO was published Thursday.
Here’s everything you need to know:
These 10 execs will determine the future of branches at the biggest US banks. Here’s how they’re thinking about more than 24,000 locations.
Executives at the top US banks — including JPMorgan Chase, Citi, and Wells Fargo — share their thoughts on the future of branch banking.
Click here to read the entire story.
An elderly couple is suing JPMorgan for $20 million over claims they were misled on risky investments
The Doelgers say JPMorgan and investment manager Chickasaw Capital Management, which specializes in master limited partnership investments, pushed them to make complex investments without adequately explaining the risks involved. Learn more about the suit here.
Plaid is hiring like crazy and investing big in a new portal giving consumers control of their financial data
Plaid’s consumer privacy group is one of the fastest growing teams at the company. Here’s a look at their its plans.
KKR wants its New York staff back in office this month. The return comes as the private-equity giant unveils a wealth of new deals.
The private-equity firm expects New York staff to be vaccinated before returning to the office. Here’s what we know.
Rich snowbirds want to make their pandemic moves permanent and lower their tax bills. A family office director walks through the process of establishing a new residence.
Clarfeld’s Donna Cuiffo says it takes a lot more than spending more than half a year in a new abode. Here’s her advice.
Tiger Global just netted $1 billion on a ride-hailing app bet. Here are 6 other startups in the $65 billion hedge fund’s portfolio that plan to go public this year.
The company has taken part in at least 165 startup financings in 2021, according to PitchBook. Here’s a list of startups it’s invested in that plan to go public soon.
Bank branches aren’t dead, but building redesigns and employee upskilling means they’ve changed forever
Redesigned locations that look more like an Apple store than a bank. Welcome to the future bank branch.
Odd lots:
TPG Is Evaluating a Public Listing (WSJ)
Republicans Ask Federal Retirement Plan for Details on BlackRock, State Street’s Votes (WSJ)
Banker’s Portrait of Racism at HSBC Prompts an Internal Probe (Bloomberg)