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Wall Street people moves of the week: Here’s our rundown of promotions, exits, and hires at firms like Goldman Sachs, JPMorgan, and Third Point

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Eric Lane _ Goldman Sachs
Eric Lane is leaving Goldman Sachs for a job at Tiger Global Management.

  • Eric Lane, co-head of the asset management division at Goldman Sachs and a 25-year veteran of the bank, is leaving the bank, according to a memo viewed by Insider. The news was first reported by Bloomberg. Lane is joining Tiger Global Management as its new president and COO, according to the Financial Times. Lane’s co-leader, Julian Salisbury, will assume sole responsibility for the division.
  • Goldman Sachs has seen a slew of other notable senior exits in recent weeks. Karen Seymour, Goldman’s general counsel, is departing the firm to re-join as a partner at powerhouse law firm Sullivan & Cromwell, as first reported by Bloomberg. In a company memo viewed by Insider, Goldman Sachs CEO David Solomon said Seymour will be replaced by Kathy Ruemmler, Goldman’s head of regulatory affairs, who joined the firm last year.  
  • The nascent consumer business at Goldman Sachs’ Marcus also saw a major shakeup in leadership this week just months after new executives took the helm of the retail bank. Partners Omer Ismail, who headed Marcus, and Adam Stark, who helped launched Goldman’s Apple-branded credit card, are both leaving the bank to join Walmart’s upstart fintech venture, as first reported by Bloomberg.
  • Another executive in Goldman Sachs’ equities business is parting ways with the bank. Jason Matthews, a partner who heads US equities derivatives sales at Goldman, is departing, according to eFinancialCareers.
  • MUFG’s hiring spree continues as it looks to grab market share in the US, particularly within the junk bond markets. The Japanese bank has hired a top Goldman Sachs banker, Ryan Munro, as head of its leveraged finance syndicate in the US, according to an internal memo viewed by Insider.
  • JPMorgan has hired away a top mergers and acquisitions banker from Goldman Sachs to head a newly announced strategic investments M&A group. Managing director Haidee Lee, who’s been at Goldman since 2018, will join JPMorgan and focus on dealmaking within family offices and private equity, according to Bloomberg.
  • Goldman Sachs partner Stephanie Smith is reportedly leaving the bank to join BlackRock. Smith, a longtime Goldman executive who most recently was head of operations for consumer wealth management, has been one of the few Black female partners at the firm. The asset manager had “tried and failed to recruit her about five years earlier,” per a New York Times report on Friday.
  • Amid Goldman Sachs’ raft of recently announced exits, the firm did announce it’s looking to hire around 100 people in Singapore as it builds out its technology team there, Bloomberg reported. The hires will push Goldman’s headcount in Singapore to its largest ever.
  • A leadership shakeup in equity and fixed-income research at JPMorgan will see Marko Kolanovic promoted to chief global markets strategist amid a slew of exits from the bank, according to an internal memo viewed by Insider sent by Jeremy Barnum, head of global research. Noelle Grainger, head of global equity research at JPMorgan, Matt Jozoff, head of fixed income research, and Sunil Garg, head of international equity research, are all leaving the bank.
  • Naureen Hassan, the chief digital officer of Morgan Stanley Wealth Management, is headed to the Federal Reserve Bank of New York, according to a release from the bank. At the Fed, Hassan will assume the role of COO and be the second-highest placed executive at the central bank, where she’ll also sit as an alternate voting member of the Federal Open Market Committee.
  • The co-head of Bank of America’s global oil trading unit is leaving the firm, according to reporting in Reuters. Charles Sussman, a managing director at Bank of America Merrill Lynch, had been with the firm since 2011. 
  • Also at Bank of America, a promotion will see managing director Laura Chepucavage take a seat on the global markets leadership team at the bank, reporting to sales and trading head Jim DeMare. Chepucavage will oversee Bank of America’s global financing and futures desk, according to a company memo seen by Insider.
  • The venture arm of Dan Loeb’s hedge fund Third Point has poached a top tech research analyst from Goldman Sachs, according to reporting in Reuters. Heath Terry, the head of TMT global investment research at Goldman, is joining Third Point Ventures as a managing director reporting to Loeb and longtime Third Point ventures head Robert Schwartz.
  • Holly Snyder Nichols is leaving billionaire Chase Coleman’s Tiger Global, sources tell Insider. Nichols was an analyst at the hedge fund and venture capital manager for more than four years, according to her LinkedIn, and also worked as a consultant for the firm before that. Her resume includes stops at Barclays, Aquiline Capital, Luxor Capital, and Eminence Capital as well. It is unclear where she is heading next; Nichols did not respond to requests for comment, and Tiger Global declined to comment.
  • The asset management division of PNC Bank will have a new chief investment officer come April, per reporting in Pensions & Investments. Amanda Agati, currently the chief investment strategist at PNC, has been with the bank since 2015. She will replace Mark McGlone, who is retiring.
  • Wells Fargo Advisors is reshuffling top leadership and its business divisions, according to Financial Advisor IQ. Wells will focus on adding leadership across major market areas. In October the bank announced it was bringing together its private wealth management and brokerage businesses into one, client-facing unit, Financial Advisor IQ reported
  • Evercore Wealth Management has promoted three employees to partner and two to managing director, according to a press release issued by the firm. Ruth Calaman, general counsel and chief compliance officer at Evercore Wealth Management, Howard Cure, the director of municipal bond research, and Ashley Ferriello, a wealth and fiduciary advisor, are all now partners. Paulo Coelho and Jennifer Tse, both wealth and fiduciary advisors, are both now managing directors.
  • Citadel has hired away a top credit trader from Apollo Global Management, according to Bloomberg. Zachariah Barratt, who was the head of corporate credit trading at Apollo, will be a portfolio manager at Citadel in New York and report to head of global credit Pablo Salame.
  • In January, Kim Rosenblum was appointed Betterment’s first chief marketing officer in several years, Insider has reported. Rosenblum spent more than two decades at Viacom, most recently as chief creative officer and head of marketing at Nickelodeon. She left the company in December 2019. Prior to joining Betterment, Rosenblum also served in a leadership position with Women for Biden Harris 2020, from March to December 2020. She joins Betterment CEO Sarah Levywho joined the robo-advisor in December to replace founder Jon Stein in that post.
  • Financial data startup MX, which last raised money in January from the likes of TPG Growth, has two new business and finance leaders. The company announced that James Dotter, currently MX’s CFO, will now serve as its first chief business officer. Brian Kinion, formerly CFO at Upwork, will also join MX and fill the CFO role Dotter vacated. 

Reed Alexander, Shannen Balogh, Dakin Campbell, Dan DeFrancesco, Meredith Mazzilli, Alex Morell, Bradley Saacks, and Rebecca Ungarino contributed reporting.

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Genesis Celebrates Official Launch In China, Unveiling Its All-new Vision Of Automotive Luxury To Chinese Consumers

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  • Genesis announced its arrival in China with an extraordinary event, introducing the brand to a new generation of Chinese consumers seeking true distinction in luxury
  • Athletic Elegance, the distinctive Genesis design philosophy was showcased with an unveiling of the Genesis G80 and Genesis GV80
  • To deliver the unique Genesis Experience, a new business model will be introduced in China aiming to design authentic relationships with Chinese consumers

SHANGHAI, April 3, 2021 /PRNewswire/ — Global luxury automotive brand Genesis marked its official entry into China with a spectacular Brand Night held on April 2 at Shanghai’s International Cruise Terminal, where Genesis showcased its unique Genesis brand identity, design and experience philosophy. With a stunning drone show titled the “Genesis of Genesis” sweeping over the Bund, Genesis signified its exceptional beginning in the Chinese market.

Genesis performing dazzling drone show, titled with “Genesis of You”

Jaehoon (Jay) Chang, Global Head of Genesis, said, “Today marks the beginning of another audacious chapter for Genesis. The Chinese market serves a critical role in the development of our global business, and we are very excited to present the next generation luxury for China.”

“We are excited to showcase our globally recognized products, Genesis G80 and Genesis GV80, known for the highest quality and distinctive design. We are driven by a purpose to design authentic relationships with Chinese consumers. This is our promise and our differentiator in China to deliver meaningful and stress-free experiences,” said Markus Henne, Chief Executive Officer of Genesis Motor China. “To do that, we will be implementing an all-new business model that will bring our commitments to life.”

New Luxury Defined by A Unique Brand Identity and Design Philosophy

Genesis is a brand that aspires to make true positive impact in our customers’ lives. With a fresh perspective, Genesis audaciously challenges expectations and brings a progressive attitude in order to build emotional bonds with customers based on new ideas in design and innovation. Genesis also desires to provide customers with a sense of thoughtful hospitality throughout the entire journey. More than an automotive brand, Genesis represents a lifestyle and an experience.

Every Genesis presents an intimate opportunity to explore the extraordinary Genesis vision. The distinctive design of Genesis was showcased through a special Brand Night unveiling of the Genesis G80, its mid-sized luxury sedan, and Genesis GV80, the first SUV in the lineup. Defined by their symbolic Two Lines architecture, both models are the expression of Athletic Elegance, Genesis’ design philosophy that achieves the perfect balance between two opposing characteristics: Athleticism and Elegance. Inside the cabin, the Beauty of White Space philosophy is expressed through a harmony of personal space and state-of-the-art technology.

China-tailored Strategy to Provide An All-New Experience

Genesis intends to inspire its customers of what new luxury can be. It addresses what the brand calls Generation Genesis, a generation with bold new perspectives in style and everyday life, whose refined taste in aesthetics and appreciation for distinctive design cultivates resonance with the brand spirit of Genesis. To underline this, Genesis unveiled its brand manifesto at the heart of which sits the  “Genesis of You” message-Every touchpoint with Genesis is designed to fuel the confidence of these consumers, as they embark on new beginnings, break boundaries and progress in their every endeavor. 

Genesis is establishing an all-new business model for the Chinese market, aiming to design authentic relationships with Generation Genesis and deliver meaningful, stress-free experiences centered on human-touch, convenience, trust and transparency. Genesis will gradually develop its presence in China through an omnichannel approach based on direct sales, supported by trusted agents and online sales. 

Furthermore, Genesis will ensure that every person interested in the brand receives the best one-to-one experience from a dedicated companion with the introduction of the Genesis Partner Concept. 

A transparent pricing model under the Genesis One Price Promise will be implemented to ensure a unified price across all sales channels. This unique and uncompromising brand experience will be enabled by the Genesis Digital Ecosystem.

Focus on Brand Building and Designing Genesis Experience

An essential part of the Genesis is lifestyle. Aesthetic ambition with the love for beautiful things are at the core of the brand. That’s the reason Genesis is never compromising anything on design and open to collaborate on a variety of canvases, where the Generation Genesis can be naturally met.

One of these forthcoming brand experiences, for instance, will be held in collaboration with the Shanghai Fashion Week, to create an elevated and in-depth exploration of progressive luxury style through world-class fashion concepts. Comprehensive and touchable Genesis Experience will come to life at Genesis Studios, a luxury lifestyle oasis where people can experience our cars, the arts and culture combined with Genesis hospitality. The first of Genesis Studio will soon launch in downtown Shanghai.

Markus Henne, Chief Executive Officer of Genesis Motor China, added, “Launching the brand in China represents a significant, perhaps the most important, new chapter in our brand’s history. Genesis will focus on brand building in the early stage. We will continue to reveal more highlights of how we plan to appeal to our Chinese audience. I am confident to deliver this promise and invite everyone to be a part of this journey.”

About Genesis

Genesis is a global luxury automotive brand that delivers the highest standards of performance, design, safety, and innovation. The Genesis brand is one of the highest-ranked brands in the automotive industry by respected, third-party experts including North American Car of the Year, Consumer Reports and J.D. Power and more. For more information on Genesis and its new definition of luxury, please visit https://www.genesis.com.cn

Speech of Markus Henne, CEO of Genesis Motor China, at Genesis Brand Night

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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Qell Acquisition Corp. – QELL

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NEW YORK, April 2, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Qell Acquisition Corp. (“QELL” or the “Company”) (QELL) relating to its proposed merger with by Lilium GmbH. Under the terms of the agreement, QELL will acquire Lilium through a reverse merger, with Lilium emerging as a publicly traded company.

The investigation focuses on whether Qell Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Click here for more information: https://monteverdelaw.com/case/qell-acquisition-corp. It is free and there is no cost or obligation to you.

Monteverde & Associates PC Logo

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.

If you own common stock in Qell Acquisition Corp. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2021 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

 

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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of BowX Acquisition Corp. – BOWX

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NEW YORK, April 2, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating BowX Acquisition Corp. (“BOWX” or the “Company”) (BOWX) relating to its proposed merger with WeWork. Under the terms of the agreement, BOWX will acquire WeWork through a reverse merger, with WeWork emerging as a publicly traded company.

The investigation focuses on whether BowX Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Click here for more information: https://monteverdelaw.com/case/bowx-acquisition-corp. It is free and there is no cost or obligation to you.

Monteverde & Associates PC Logo

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.

If you own common stock in BowX Acquisition Corp. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2021 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Millendo Therapeutics, Inc. – MLND

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NEW YORK, April 2, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Millendo Therapeutics, Inc. (“MLND” or the “Company”) (MLND) relating to its proposed merger with Tempest Therapeutics, Inc. Under the terms of the agreement, MLND shareholders are expected to own 18.5% of the combined company.

The investigation focuses on whether Millendo Therapeutics, Inc. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Click here for more information: https://monteverdelaw.com/case/millendo-therapeutics-inc. It is free and there is no cost or obligation to you.

Monteverde & Associates PC Logo

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.

If you own common stock in Millendo Therapeutics, Inc. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2021 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

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