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Insider finance: Crypto's stumbling block

Business Insider logo Business Insider 5/10/2021 ddefrancesco@businessinsider.com (Dan DeFrancesco,Jordan Parker Erb)
a bird flying over a city: Mark Lennihan/AP © Provided by Business Insider Mark Lennihan/AP

Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:

  • RBC dealmakers explain how increased interest in ESG-focused deals has changed how investment banks are operating.
  • Goldman Sachs is rolling out a new crypto trading team.
  • Asset managers are building crypto offerings to meet investor demand, but high carbon emissions are a "stumbling block."

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RBC dealmakers explain how investment banking is transforming as ESG becomes a hot topic with clients

a couple of people posing for the camera: Lindsay Patrick, left, and Vito Sperduto, right. RBC Capital Markets © RBC Capital Markets Lindsay Patrick, left, and Vito Sperduto, right. RBC Capital Markets

Corporates are stepping up their demands for sustainably focused deals, and banks are responding. Vito Sperduto and Lindsay Patrick, two dealmaking execs at RBC Capital Markets, detail how investment banks need to adjust.

Here's how dealmakers are changing as a result of ESG.

Investors love crypto but worry about its carbon footprint. Here's how asset managers like Fidelity and Invesco are addressing their concerns.

a sign over a fire: Marianne Ayala/Insider © Marianne Ayala/Insider Marianne Ayala/Insider

Crypto's high carbon emissions are a "stumbling block" for some, one exec told Insider. Here's how asset managers are addressing concerns.

Goldman Sachs announces a new crypto trading team in an internal memo

a close up of a hand holding a coin: Bitcoin miners are seeing gold despite the cryptocurrency's recent fall. NurPhoto/Getty Images © NurPhoto/Getty Images Bitcoin miners are seeing gold despite the cryptocurrency's recent fall. NurPhoto/Getty Images

Goldman Sachs has informed employees of a new cryptocurrency trading desk, the bank confirmed. Here's what we know.


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JPMorgan just promoted 2 CIOs to newly formed groups focused on improving employees' experience using the bank's tech

H├ęctor Luna and woman posing for a photo: Melissa Goldman and James Reid JPMorgan © JPMorgan Melissa Goldman and James Reid JPMorgan

James (JR) Reid and Melissa Goldman were both named chief information officers to newly formed groups at JPMorgan focused on internal tech. Learn more about the promotions.

I took the personality test Ray Dalio helped design and uses at Bridgewater. The results were mortifying.

Ray Dalio wearing a suit and tie: Founder of Bridgewater Associates Ray Dalio AP © AP Founder of Bridgewater Associates Ray Dalio AP

Insider's Rebecca Knight took a new personality test that Ray Dalio, the billionaire founder of Bridgewater Associates, helped design. Here's what it said.

The hedge fund manager who blew up his career in a single day after a years-long spat with a bankrupt retailer just got handed a 6-month prison sentence

a man wearing a suit and tie smiling at the camera: Marble Ridge founder Dan Kamensky ruined his career in a single day last July. Ross Lavern/Reuters © Ross Lavern/Reuters Marble Ridge founder Dan Kamensky ruined his career in a single day last July. Ross Lavern/Reuters

Marble Ridge founder Dan Kamensky received a sentence of 6 months in prison and 6 months home confinement on Friday. Get the full rundown here.

Must-know promotions, exits, and hires at firms like Blackstone, Russell Investments, and Viking Global

Richard Cordray wearing a suit and tie in front of a curtain: Consumer Financial Protection Bureau Director Richard Cordray speaks in Washington, October 17, 2014. REUTERS/Larry Downing © REUTERS/Larry Downing Consumer Financial Protection Bureau Director Richard Cordray speaks in Washington, October 17, 2014. REUTERS/Larry Downing

Guggenheim poached two leveraged finance leaders from Natixis. Divya Nettimi left Viking. Paget MacColl will head Blackstone's hedge fund solutions. Here are all the big people moves across the Street.

Odd lots:

Goldman Sachs internal memo unveils new cryptocurrency trading team (CNBC)

Health Advocate or Big Brother? Companies Weigh Requiring Vaccines. (NYT)

Black Banking Executives on How to Sustain Post Floyd Changes (Bloomberg)

Green Dot joins corporate exodus from California as fintech firm moves to Austin (CNBC)

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