Welcome to Dan DeFrancesco in New York.
Today, we have stories about what Wall Street executives are saying about the banking crisis, Goldman's push to make options trading easier, and why the clearing method is wrong.
But first I'm going to Miami.
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1. The big technological leap of the millennium.
Come for the sun, stay for the technology.
Wall Street firms that have moved to Florida are founding their startups, and a major hedge fund is already laying the groundwork for what will become a pipeline for tech talent.
Insider's Bianca Chan got the first look at Millennium Management's new engineering training program for the Miami office.
The program, led by former Goldman CEO Olga Naumovich, lasts 12 to 18 months and allows young engineers to try out for various positions at the $58 billion hedge fund. The launch of the program comes as the war for tech talent continues to rage across the region.
Bianca spoke with Naumovich about the program, the types of technologists Millennium is looking for, and the Miami company's broader tech ambitions.
Such training programs. rival Citadel runs a program for engineers with similar experience levels, giving hedge funds an interesting edge in finding technical talent.
Interest in learning finance, rather than knowledge in the field, tends to be the priority. Participants can usually change groups to get a feel for the organization and what they like. And perhaps most importantly, part of the program focuses on working with non-technical people.
The programs address the most pressing complaints often raised by technical staff at large banks. (More on that here.)
So, as multi-purpose hedge funds like Millennium become the banks of the new age, it's interesting to see how they try to avoid making the same mistakes as their predecessors.
Click here to learn more about Miami's new engineering education program.
In other news.
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2. The management of Wall Street talks about the banking crisis. JPMorgan's Jamie Dimon, BlackRock's Larry Fink, Citigroup's Jane Fraser and Wells Fargo's Charlie Scharf shared their thoughts on the banking crisis during their respective earnings calls. Here is a selection of their sharpest comments.
3. Options for kettles. Goldman Sachs recently updated a technical tool on its Marquee platform designed to make options trading easier for clients. As part of what the Goldman CEO is positioning as an Amazon-like options trading tool.
4. BlackRock is shopping. The world's largest investment manager is open for deals after the banking crisis. Learn more about what you can search for.
5. So you want to work at a hedge fund? Whether it's Citadel, DE Shaw or Point72, we'll tell you how to access all the elite funds. From internships and training programs to interview preparation tips, you'll find it all here.
6. Jamie Dimon on the US economy. Despite talk of the latest banking crisis, JPMorgan's CEO was still thinking about the overall state of the economy. He feels that way.
7. Goldman Sachs wants to get involved in artificial intelligence chatbots. According to Fortune, the bank is considering creating its own version of the Buzzy tool. To give you an idea of how one bank is thinking about AI use cases, here are three examples provided by its CTO.
8. A few high fives for the boys. From tummy tucks to liposuction, these are the most popular procedures among men today, according to one Miami plastic surgeon. Read more here.
9. Don't make these mistakes or Mr. Clean will be disappointed. We've identified all the common mistakes people make when cleaning. (Trust me, you've done a lot.) Read this and get your house in order.
10. Trader Joe's stuff is so good it's even been approved by culinary judges. We had a food judge rate the 14 best TJ's foods. Here's how they turned out.
Curated by Dan DeFrancesco in New York. Opinion or advice? Email [email protected], tweet @dandefrancesco or join LinkedIn. This was done by Jeffrey Cane (tweet @jeffrey_cane ) in New York and Hallam Bullock (tweet @hallam_bullock ) in London.
