In Battle to Recruit New Quants, Hedge Funds Outpay Banks

Hedge funds are paying top dollar to bring in new employees with quantitative skills, underscoring the desperation some funds face to bulk up their abilities around big data and algorithms. A new survey from Baruch College’s financial engineering program found that...

The decade of the very poor and the super rich

The 2010s may be remembered as the decade when the global 1% accumulated unfathomable wealth, but it was also perhaps the best decade ever for the world’s poorest people. The big picture: The rate of extreme poverty around the world was cut in half over the past...

Say Goodbye to Banking as We Know It

So is China readying its own Bitcoin? Banish the thought. It’s far bigger than that. Yes, just like any other cryptocurrency — or for that matter, cigarettes in prisoners-of-war camps — the upcoming digital yuan will be “tokenized” money. But the similarity ends...

How whistleblowing became an industry in the wake of #MeToo

Advising companies on setting up whistleblower services has become a burgeoning industry in the wake of the #MeToo movement and a high-profile scandal at Barclays, with businesses spending up to £100,000 to establish services for concerned staff. Demand for...

2019 Was the Year of the CEO Exodus

CEO departures through November rose 12% year-on-year to 1,480, according to executive outplacement firm Challenger Gray & Christmas. That was only four exits shy of the record set in 2008, during the turmoil of the global financial crisis. Since November, five...

The future of banking is basically robots running everything

Banks will have to convince robots – rather than humans – that their deal is the best in the market Financial institutions are already using artificial intelligence to cut costs and deliver new services. But what about the customers? In 2020, we will start to see more...