Insider Finance - Business - Wall Street: Ken Griffin’s next move

The latest in finance.
View in browser
INSIDER
Subscribe

10 THINGS ON WALL STREET

And we're back! Dan DeFrancesco in NYC.

On tap we've got stories on some brutal year-end bonuses at Goldman Sachs, why one fintech is still on the hunt for tech talent, and an army of ducks that help keep you drunk.

But first, a king considers unconquered lands. 


If this was forwarded to you, sign up here. Download Insider's app here.


Ken Griffin, the founder and CEO of Citadel.

1. Ken Griffin's next move.

It's good to be Ken Griffin. 

Plenty of people find success on Wall Street that most can only dream of. But Ken Griffin seems to be winning in ways that even his peers can't fathom.

2022 was another banner year for both Griffin's hedge fund (Citadel posted $28 billion in revenue and a 38.1% return on its main fund) and trading firm Citadel Securities nabbed $7.5 billion in revenue, per The Wall Street Journal).

So where do you go when you've already reached the top? Insider's Dakin Campbell profiled Griffin, including his increased push into politics via eye-popping donations to conservative candidates. The story, which includes a conversation with Griffin himself, is a fascinating look at how one gets to, and stays at, the top of one of the most competitive industries in the world.

With all due respect to Jamie Dimon, Larry Fink, and Stephen Schwarzman, I think it's fair to say Griffin is the most powerful person on Wall Street. I realize that's an ambiguous term, but Griffin's empire spans two different worlds — hedge funds and trading — that makes him ubiquitous in ways others could only dream of. 

Click here to read more about Ken Griffin rise to the top of Wall Street and what could be next for the billionaire.


In other news:

a group of friends drinking wine in a restaurant

2. You're hiring? In this environment! It's not all bad news on Wall Street. Alt investment marketplace iCapital is looking to add 100 new technologists to its staff this year. Here's what the fintech, which is backed by a bevy of top Wall Street firms, is looking for.

3. The rise and fall of Charlie Javice. For years investors and the media lauded Javice's accomplishments, culminating in a deal with JPMorgan for her startup. Now the two sides are at odds. The inside story on how we got here.

4. Jamie Dimon didn't get a raise in 2022. His total comp stays at $34.5 million. And you thought your year-end bonus was bad! Imagine how the JPMorgan CEO feels. Hope he manages OK.

5. Meanwhile at Goldman... Some junior bankers saw their year-end bonuses slashed by as much as 90%, the New York Post reports. So much for that summer share in Montauk. More bad news here.

6. Mark Cuban backs another healthcare startup. Truepill is an online pharmacy that helps other healthcare startups send medications through the mail. Here's why the Cubes keeps betting on healthcare.

7. Would anyone like to give Robert Smith some money? The billionaire dealmaker remains on the hunt to fill out a $20 billion tech-focused fund for his firm, Vista Equity Partners. But the fundraising process hasn't been a breeze, Bloomberg reports. More on why it's been a hassle.

8. The case for the five-day work week. As much as it pains me to do so, in the spirit of being fair and balanced, I present to you the case for why a four-day work week is a bad idea. You can click here, I guess.  

9. That shiraz you're drinking could be courtesy of an army of ducks. A South African winemaker relies on more than 1,000 Indian runner ducks to patrol its fields from pests. Check out the video.

10. What if Dry January never ended? If you've almost made it all the way and are considering quitting booze for good, we've got some tips. Here's some advice from a former moderate drinker who has been sober for six years.


Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) in London. 

 

Key phrases

Older messages

Big Tech wipeout — No more Fridays — Founder fraud

Sunday, January 22, 2023

A selection of our best stories from the past week, as chosen by a top editor. Subscribe to Insider View in browser INSIDER WEEKLY Hi, I'm Matt Turner, the editor in chief of business at Insider.

The world's most powerful passports

Saturday, January 21, 2023

Plus: Spotting the green comet, and is it time to pay parents? View in browser Subscribe January 21, 2023 Hello, Insiders. It's Saturday! So you know what that means — time for a newsletter edition

Starbucks lids keep falling off

Friday, January 20, 2023

Plus: Google's slashing jobs, and your voice can be cloned. View in browser Subscribe January 20, 2023 Hello, Insiders. The World Economic Forum is coming to a close. The consensus among the

Wall Street: Big banks’ succession plans

Friday, January 20, 2023

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET The weekend is here! Dan DeFrancesco in NYC. Fun fact Friday: The only current member of the band ZZ Top who

‘I got away with working from Vegas’

Friday, January 20, 2023

Plus: Gen Z is souring on Democrats, and FTX investors to be wiped out. View in browser Subscribe January 11, 2023 Hello, Insiders. The main way to make money with crypto has been to own some and see

🥷 Time to get tactical

Sunday, February 5, 2023

The US is over-employed | The IMF told China to up its game | TOGETHER WITH Hi Reader, here's what you need to know for February 6th in 3:13 minutes. 📝 We all need a refresher from time to time,

🚀 IG's founders unveil their next act

Sunday, February 5, 2023

Plus, why does every app have a subscription now? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Tech’s new era — Fraud reckoning — China’s grim omen

Sunday, February 5, 2023

A selection of our best stories from the past week, as chosen by a top editor. Subscribe to Insider View in browser INSIDER WEEKLY Hi, I'm Matt Turner, the editor in chief of business at Insider.

The DINKWAD trend taking over TikTok

Saturday, February 4, 2023

Plus: Tips for preserving your memory, and working on a cruise ship. View in browser Subscribe February 4, 2023 Hello, Insiders! Welcome to our Saturday edition, filled with fascinating reads for your

The job market won’t quit

Saturday, February 4, 2023

Bloomberg Weekend Reading View in browser Bloomberg The US job market just won't quit. While that's a sign of underlying strength for the economy and great news for American workers, it's

‘Apocalypse postponed’

Friday, February 3, 2023

Bloomberg Evening Briefing View in browser Bloomberg Forget all that talk of falling inflation, moderating wages, record-low unemployment and possible soft landings. Wall Street says 2023 will likely

The Art of Short Selling

Friday, February 3, 2023

Plus: Deutsche Bank, Custodia Bank, Late Fees ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

ChatGPT may be coming for our jobs

Friday, February 3, 2023

Plus: A new era in tech, and why some packages take strange journeys. View in browser Subscribe February 3, 2023 Hello, Insiders. Steve Jobs used to talk about how humans are one of the slowest animals

Wall Street: Exodus at ExodusPoint

Friday, February 3, 2023

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET TGIF! Dan DeFrancesco in New York, but I'll be on my way to China shortly to pick up my new Porsche that

[New post] Does the bonus cap work?

Friday, February 3, 2023

BankUnderground posted: " Qun Harris, Ieva Sakalauskaite and Misa Tanaka After the 2007–08 Global Financial Crisis (GFC), several jurisdictions introduced remuneration regulations for banks with