Robinhood interviews IPO bankers — Goldman analysts pitch top execs — The asset manager of the future

It's been a busy November on the IPO prep front, with DoorDash flipping its S-1 last week and Airbnb unveiling its financials on Monday. 

Now Robinhood is looking to hire bankers to gear up for an IPO that could happen as soon as the first quarter of 2021, Bloomberg reported on Tuesday.

The zero-commission stock trading app has played a part in upending the traditional discount brokerage model. And it's soared in popularity during the pandemic — but also left some users frustrated by outages during volatile trading sessions. 

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The asset manager of the future looks like a consultant

More than ever, asset management firms are offering advice- and technology-oriented services and positioning themselves as wide-ranging consultants. 

"In the past, asset managers had a fairly narrow mandate: manage clients' portfolios and investments," said Andrew Schwartz, an analyst with management consultant Oliver Wyman's financial services division Celent.

But as investors shift to cheaper passive products and fees come under more and more pressure, asset managers are primed to take on more of a partner relationship than one of a manager.

Here's how asset-management giants like BlackRock, PIMCO, and Invesco are looking to stand out.

Meet 4 Goldman Sachs analysts who pitched top execs to win the bank's annual charity competition

At a Manhattan restaurant in 2018, four Goldman Sachs summer analysts gathered for a routine Friday night dinner. At the table were Zander Cowan, Arthur Jacobs, Aditi Sundaram, and Claire Thompson, who harbored big dreams of a career at one of Wall Street's most prestigious firms.

At the dinner, the four agreed that, if they were invited back to join Goldman as full-time analysts, they would partake in the firm's annual Analyst Impact Fund competition, a showdown where young employees have the chance to compete for grants of up to $250,000 to advance social causes and the missions of nonprofit organizations.

Two years after their intern dinner in New York City, the four — all of whom have since been hired full-time into the firm — joined forces and, last week, won the top prize.

Julian Salisbury, Goldman's global merchant banking division head, told Business Insider that analysts are challenged to bring an "analytical approach" to their pitches, in order to convince a senior audience that "this is going to be a good return on their investment."

Read more about the winning pitches here. 

Recruiters from The Carlyle Group, Apollo, and Bain Capital will break down how to get hired in private equity

Landing a job in the ultra-competitive world of private-equity is a challenge, even for the most prepared candidates.

That's only been complicated by a chaotic and unpredictable 2020, in which the private-equity associate hiring timeline has been upended by the coronavirus pandemic, and the traditional rites of recruiting — coffee-chats, gatherings with headhunters, and fierce superdays — have been delayed instead of shifting online.

Join us on Thursday, December 3, at 1 p.m. ET, as Business Insider's Wall Street reporter Reed Alexander moderates a panel featuring Sara Diniz, vice president in human resources, Bain Capital; James Cherubim, head of talent acquisition, The Carlyle Group; Matt Breitfelder, global head of human capital, Apollo; and Anthony Keizner, co-managing partner, Odyssey Search Partners.

Odd lots:

PwC just supercharged its cloud-consulting efforts with a new acquisition as it seeks to be clients' go-to in digital-transformation services (BI)

Sheldon Solow, the legendary billionaire New York City developer, dies at 92, leaving a multi-billion-dollar portfolio of trophy assets in flux (BI)

SoulCycle's top instructors had sex with clients, 'fat-shamed' coworkers, and used homophobic and racist language, but the company treated them like Hollywood stars anyway, insiders say (BI)

Goldman Sachs Goes on AWS Hiring Binge to Boost AI, Cloud Efforts (The Information) 

HBO's 'Industry' Recap, Episode 2: What's the Competition All About? (WSJ)

Learn more about the financial services industry.

Get the latest Goldman Sachs stock price here.


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