Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:
- Workers at America’s top companies say their employers are still falling short of fully addressing burnout.
- Morgan Stanley is letting interns come into the office for two weeks in July, but they’ll need to be vaccinated.
- Northwestern Mutual’s wealth management business has big hiring plans.
- Truist’s new head of investment banking details his plans for winning market share from Wall Street’s elite.
Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.
America’s top business leaders are trying to solve the country’s burnout crisis. Workers say it’s not enough.
Even though Fortune 500 executives increased mental-health benefits during the pandemic, workers told Insider that in order to really stop burnout, companies need to address their workplace cultures.
Read more from our exclusive report.
Morgan Stanley is inviting interns to spend 2 weeks in the office in July as Wall Street contemplates a gradual return to in-person work
After previously committing to starting its internships virtually this year, Morgan Stanley announced that interns can have a brief in-person office experience this summer. More on that here.
Morgan Stanley plans to block unvaccinated employees and guests from entering its New York offices
Meanwhile, Morgan Stanley will require a COVID-19 vaccine for entry at its NY offices, the Financial Times said. Here’s what’s been reported about the policy.
Investment banks are hiring lawyers, researchers, and accountants for IB jobs, underscoring Wall Street’s struggle to staff up
Faced with an ongoing labor shortage, banks are considering other kinds of professionals to fill vacant roles, including lawyers and research analysts. Get the details on their struggle to fill positions.
Northwestern Mutual quietly built a $220 billion wealth management business. Now it’s eyeing its next big hiring push.
Aditi Gokhale, Northwestern Mutual’s wealth management division head, explained how her team hit $220 billion in client assets and added 200,000 customers during the pandemic. Why Northwestern Mutual is no longer “the quiet company.”
Truist’s new investment-banking head says he’s adopting a ‘mindset of disruption’ to take on Wall Street’s elite
Michael Carter, Truist’s new head of investment banking, details his plans for disrupting Wall Street’s status quo. Here’s what he said.
Wall Street’s biggest hiring trends: here’s where recruiting is heating up, and which firms are nabbing top talent
Insider has been tracking Wall Street hiring and talking with recruiters and insiders about the biggest trends. From junior investment-banking talent to senior dealmakers and traders, here are the spaces to watch.
JOIN OUR LIVE EVENT JUNE 24: Execs from Deutsche Bank, AllianceBernstein, and Accenture will break down how Wall Street is navigating the return to work
In our live webinar event on Thursday, June 24, at 1 p.m. ET/10 a.m. PST, three top financial-services execs will break down what the return to work looks like for Wall Street. Sign up here.
Odd lots:
Blackstone Bets $6 Billion on Buying and Renting Homes (WSJ)
Charles Schwab is hiring aggressively — in Texas (San Francisco Business Times)
Check out 5 pitch decks that legal-tech startups used to raise millions (Insider)
IPO Alternative Loses Early Luster at Key Time For New Deals (Bloomberg)
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