- October 17, 2020
- Posted by: Bastion team
- Category: Markets
Big bank earnings season was in full swing this week. From top execs laying out the rationale behind dealmaking to shedding some light on their plans for the future of the physical office, here are some of this quarter’s highlights:
Keep reading to learn more about what engineers are getting paid at Amex, Mastercard, PayPal, Square, and Visa; a leadership shakeup at mortgage giant Fannie Mae; why big investors like Blackstone have been snapping up film and TV production space as a hot real-estate play; and a deep dive on how per-diem lawyers have found creative ways to reinvent themselves.
Edwin Remsberg/Getty Images
US government-controlled Fannie Mae, a key player in the country’s massive mortgage market, is shuffling leadership in its largest business line, according to recent internal memos seen by Business Insider.
The changes inside Fannie Mae, which the government took over during the great financial crisis and has become a political football, come just weeks before the US presidential election that could usher in changes for the organization.
Big money is pouring into film and TV production spaces. Here’s a look at the opportunities — and risks — for this hot real-estate play.
Brookfield Property Partners is in talks to take a stake in Blackhall Studios, a production facility with nine sound stages in Atlanta, sources told Business Insider.
Dan Geiger and Casey Sullivan chatted with studio owners, private-equity executives and brokers to learn what’s been driving a flurry of activity from big investors.
A Morgan Stanley credit desk has reaped nearly $1 billion thanks to a surge in corporate borrowing and bond-portfolio trading
David Wong/South China Morning Post via Getty Images
As Alex Morrell reported, Morgan Stanley has had a huge year in credit trading — reaping nearly $1 billion from its investment-grade desk.
Despite ranking fourth in underwriting IG debt, the firm is a perennial top competitor when it comes to trading it. Helping its cause: Morgan Stanley has one of Wall Street’s top operations in algorithmic and bond portfolio trading, which has accelerated in 2020.
AT&T is conducting a strategic review of WarnerMedia’s 1.5 million-square-foot headquarters at 30 Hudson Yards, Dan Geiger reported this week.
The reevaluation is expected to be complete early next year and could prompt the $200 billion telecom company to shed some of the space. If it decided to dump a portion of the headquarters, it would be the latest major tenant to back away from the office workplace. Here’s a look at what this reevaluation could mean for the NYC office market.
For any payments company, tech is a huge part of the budget. Speed and security of a network can make or break a company like Amex or Mastercard. And as payments become increasingly digital, these infrastructure giants have to keep maintaining and updating rails and systems.
And that means a large part of payments companies’ headcount lies in tech. Amex, Mastercard, PayPal, Square, and Visa need to hire the best technical talent to build new ways to pay and keep the systems up and running. Here’s a roundup of what they’re paying for it.
Per-diem attorneys could make $200,000 a year from freelance lawyer gigs. But as work has vanished, they’ve become Instagram cooks, motivational speakers, and reiki coaches.
Hundreds of lawyers in New York and beyond who made a specialty out of showing up for court appearances on behalf of other lawyers have found themselves out of work as courts have moved online. So-called per-diem lawyers could make about $125 per appearance, and for some of them, the numbers really added up.
New York courts have gradually been reopening for in-person trials and arguments, but the events that filled a per-diem’s day are mostly virtual, so the lawyers who used to send them work can call in themselves.
Goldman Sachs trading booth on the floor of the New York Stock Exchange in New York, on Thursday, January 6, 2011.
Ramin Talaie/Corbis/Getty Images
In Goldman Sachs’ quest to move down-market, part of its newly reorganized wealth management division is preparing to expand. Joe Duran, head of Goldman Sachs Personal Financial Management, told Rebecca Ungarino and Dakin Campbell that the business is looking to hire dozens of financial advisors over the next year.
Private equity and hedge funds
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