How JPMorgan and BlackRock are thinking of playing fund manager M&A

  • Top brass from JPMorgan and BlackRock, among the firms to kick off earnings season with their results, said Tuesday that they expect more consolidation in the wealth- and asset-management industries.
  • Pressures on money managers have fueled a flurry of acquisitions in those areas this year, and analysts questioned executives about their own deal ambitions, albeit coming from different corners of the market. 
  • JPMorgan boss Jamie Dimon said the bank would be “very interested” in deals in that space, and BlackRock finance chief Gary Shedlin said the firm was focused on targets that could expand its technology, global distribution, and private markets capabilities.
  • Last week, Morgan Stanley said it would buy investment manager Eaton Vance in a deal valued at $7 billion just days after it closed on its E-Trade acquisition. 
  • Visit Business Insider’s homepage for more stories.

Top brass at the world’s largest asset manager and largest US bank told

Read More

‘What Tech Calls Thinking’ Might Really Be Something Else

Dropping out of college is also, in Daub’s view, “elitism that very visibly snubs the elite … while nevertheless basking in its glow.” In the case of Elizabeth Holmes, the disgraced founder of the fraudulent blood-testing company Theranos, “dropping out” of Stanford actually meant dropping in to real money. After all, Holmes decamped from Stanford and coaxed $1 million out of a superrich family friend. Rather than turning to the loose freethinking that she might have found in books and liberal arts seminars, she made a beeline for the rat race of consumerism and greed that Leary and his ilk believed sucked the soul out of you. So much for “dropping out.”

Daub brings the same sharp eye for sophistry to other forms of palaver that move capital in Silicon Valley. He revisits the actual thinkers appropriated by TED bloviators, from the philosopher Marshall McLuhan to the French historian René

Read More