Wall Street’s attempt at returning to some form of normalcy has already hit its first roadblock.
JPMorgan had to send some employees home after someone on its equities trading team tested positive for the coronavirus, as reported by Bloomberg.
It was difficult timing for Wall Street’s biggest bank, as its chief executive, Jamie Dimon, had just finished speaking at a conference about the importance of returning to work and reopening cities.
DAVOS 2016; World Economic Forum — Pictured: Michael Corbat, CEO of Citigroup, in an interview at the annual World Economic Forum in Davos, Switzerland, on January 21, 2016 — (Photo by: David A.Grogan/CNBC/NBCU Photo Bank via Getty Images) David A.Grogan/CNBC/NBCU Photo Bank via Getty Images
Back again with another great story out of Dakin Campbell, who has a scoop about Citigroup freezing out the firms it’s locked in a legal battle with over the $900 million wire it mistakenly sent.
In case you missed it, Citi is currently at odds with about a dozen hedge funds and investment firms that refuse to return money the bank mistakenly sent to them last month on behalf of Revlon.
Most financial firms in that position would look to the legal system to try and claw their money back, something Citi has already done
PIMCO CEO Emmanuel Roman Anthony Devlin/Getty Images
BlackRock’s Aladdin is arguably one of the most successful tech platforms since the wake of the 2008 financial crisis. So, it’s no wonder others would look to challenge its business. Enter $1.9 trillion PIMCO. Bradley Saacks and Rebecca Ungarino have a memo outlining the giant asset manager’s plans.
