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On the agenda today:
- In line with other banks, William Blair is raising pay across junior and senior ranks.
- Carlyle’s CEO told us the firm has doubled the pace of deals this year.
- We spoke to a former Merrill Lynch banker who quit her high-paying job to become a DJ in Berlin.
Before we get started, we have some newsletter news: We’re retiring our Saturday edition of the newsletter. Have a great weekend; we’ll see you Monday morning.
Now, let’s get to it.
The Chicago-based boutique investment bank is the latest financial-services firm to raise salaries for its workers (check out our comprehensive list of banks’ new salaries here). The raises put Blair’s base comp ahead of many bulge-bracket rivals. See a list of William Blair’s salary raises at each level.
Carlyle’s CEO says the firm has doubled the pace of deals this year
“Everything in our business is speeding up,” said CEO Kewsong Lee. Indeed, the CEO has been busy of late — in just the past few months, the firm has jump-started dealmaking and boosted fundraising by nearly 50%. Here’s what else he told us.
A former Merrill Lynch banker quit her $120,000 job to become a DJ in Berlin
At 22, Anne-Kathrin Oelmann was netting a six-figure salary as an investment banker in London. But after six months with Merrill Lynch, Oelmann quit; now, she’s known as Djane Annie O. Read how she followed her gut to become a successful DJ.
KKR Credit is looking to bolster its asset-based finance team
KKR’s private credit head is eyeing mid- and junior-level talent for an area of banking that involves all sorts of collateral from private jets to musical IP. Here’s how private lenders are tackling a space once dominated by Wall Street’s biggest lenders.
JPMorgan Chase has tapped an outsider to head up its business banking division
Ben Walter, the CEO of global retail at Bermuda-based specialty insurer Hiscox, will join the firm in early October, according to an internal memo viewed by Insider. We’ve got the full memo announcing the move.
On our radar:
- Nominations for Insider’s next class of Wall Street rising stars are open. Here’s how to apply.
- Hard-seltzer sales are tanking, but COVID isn’t the culprit. Here’s what’s stifling seltzer sales.
- Bloomberg reports that China’s widespread regulatory crackdown has dealt a blow to Tiger Global’s 20-year run there.
- According to a bank-commissioned investigation seen by the WSJ, Credit Suisse failed to act on Archegos risks.
- Citi has reinstated its mask requirement following the CDC’s update, according to Bloomberg. What that means for employees.
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