October 20, 2021

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Here Are the Top Finance Stories of the Day for June 10

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PayPal’s lineage isn’t just men. These 20 women played key roles early, then went on to do big things at Ancestry, Google, and LinkedIn.

White PayPal logo with a female/Venus symbol replacing the "P" in "Pal" on a PayPal patterned blue background.



PayPal; Samantha Lee/Insider


The “PayPal Mafia” is one of the most influential clubs in Silicon Valley — and a group that has historically been male dominated. But women, too, played a key role at PayPal early on and went on to do big things. 

Meet 20 women who held influential positions at PayPal in its early days.


SoFi is underwriting Chamath Palihapitiya’s 4 biotech SPAC IPOs as the fintech looks to compete with Wall Street’s top investment banks

Anthony Noto



Asa Mathat for Vox Media. Used by permission.


SoFi will underwrite the IPO of Chamath Palihapitiya’s new blank-check companies alongside bookrunner Morgan Stanley, as the fintech looks to break into a market dominated by top investment banks. More on that here.


Forget bitcoin and other hyper volatile cryptocurrencies. For everyday transactions, the future of money is stablecoins.

A volatile Bitcoin chart line with a stable Stablecoin chart line below it on a light green background



Samantha Lee/Insider


Unlike cryptocurrencies such as bitcoin and ethereum, stablecoins have held steady in recent bouts of crypto sell-offs — making them more reliable as a form of digitized money. Here’s what you need to know about stablecoins.


Morgan Stanley names new marketing chief and adds new wealth division leadership from E-Trade

Andy Saperstein, the head of Morgan Stanley Wealth Management.

Andy Saperstein, the head of Morgan Stanley Wealth Management.

REUTERS/Brendan McDermid


Morgan Stanley has named new leaders in its wealth division as it integrates E-Trade. Get the full rundown of new hires.


Deutsche Bank just promoted 2 new heads of its ECM business in the Americas, including a key leader in the bank’s SPAC business

Christian Sewing

Deutsche Bank CEO Christian Sewing speaks at the 28th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 16, 2018. REUTERS/Ralph Orlowski

Ralph Orlowski/REUTERS


Ben Darsney and Justin Smolkin were named co-heads of equity capital markets in the Americas. Here’s what we know about the hires.


JPMorgan’s private bank CEO wants to hire as many as 1,500 advisors. Here’s the firm’s plan to double head count in five years.

david frame jp morgan

JP Morgan Private Bank CEO David Frame.

JPMorgan


Private Bank CEO David Frame told Insider where and why the firm is pushing to expand. Here’s what he said.


Odd lots:

Meet the top law firms putting together blockbuster cannabis deals worth billions (Insider)

Amazon Explores Replacing JPMorgan in Credit-Card Tie-Up (Bloomberg)

Green Junk Bonds May Not Deliver Green Results (WSJ)

Protégés of Bill Hwang, behind epic Archegos collapse, plan new fund (NY Post)

Nomura Prime Brokerage Cuts to Spare Little in U.S., Europe (Bloomberg)

Farewell, Millennial Lifestyle Subsidy (New York Times)

Credit Suisse Scraps Plan to Back Trader’s Fund Amid Crises (Bloomberg)

Goldman Sachs partner Brennan set for exit to Rothschild (Financial News)

Gensler says SEC to review payment for order flow (FT)

Apollo Faces Canada Pension Review as Stain Outlasts Black (Bloomberg)