Highflying i-bankers are grounded — Facebook’s new digs — Vanguard power players

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Facebook’s new digs

At a time when many companies are reconsidering their office space, one of the biggest just signed up for some new space in New York, giving a much-needed boost to the industry.

Daniel Geiger has all the deets on Facebook completing a lease to take all of the office space in the Farley Building on Manhattan’s West Side, and what it means for the overall office market.

One major benefit of the new office? Some employees of the social media giant will have a shorter commute, as Penn Station, the busiest transit hub in the US, is just across the street. In fact, Long Island Railroad and Amtrak are in the process of building out stations in the very same building. 

  The Future of Fintech: AI & Blockchain

LEAKED MEMO: Bank of America sent 3.2 million mistaken emails about fraud claims to customers including Merrill Lynch and private bank clients, sparking a surge in calls from worried customers

Everyone’s likely sent a text or email they regret, but imagine sending 3.2 million of them. Bank of America did just that, erroneously notifying some of its Merrill Lynch Wealth Management and private banking clients about fraud claims, as reported by Rebecca Ungarino. 

Vanguard is emerging as a key force in a $3.8 trillion battle against PIMCO and BlackRock for bond investors’ cash. Meet 4 power players it brought on to help drive its push.

Vanguard is beefing up its active fixed-income funds with a string of outside hires. Rebecca Ungarino details the four key people brought in to help the giant asset manager compete with the likes of PIMCO and BlackRock in a space that accounts for $3.8 trillion in assets.

Boutique banks like Evercore and Moelis are saving tens of millions in travel and entertainment costs while globe-trotting dealmakers are grounded. Here’s what that could mean about the future of business travel.

Boutique banks are enjoying some big savings thanks to their dealmakers being sidelined from business travel due to the coronavirus. Meghan Morris pulled data from Q2 earnings reports to see just how much some firms are saving by subbing virtual meetups for business class.

Average fintech salaries are in the six figures. …read more

Source:: Business Insider

      

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