Monday’s Headlines: How One Wall Street Firm Hires, Houses and Trains Returning Vets

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A number of Wall Street firms have initiatives in place to help returning American servicemen and women get jobs. But one of them spends a full 20 percent of expenses on housing veterans and training them for finance careers. A New York Times story details the work of Drexel Hamilton, an institutional brokerage firm with offices in New York and Philadelphia, and co-founder of the Wall Street Warfighters Foundation, which aims to prepare 24 veterans each year for jobs in finance and banking. Those who can’t find suitable jobs are hired by Drexel Hamilton. The story writes:

Michael Steigerwald, 49, a decorated former Air Force pilot, works in sales at Drexel Hamilton with his former navigator, Fred Phelan, 42. Their plane took a direct hit from a rocket attack in Iraq. “We spent a lot of time in conflict management leading good people into difficult situations,” Mr. Steigerwald said. “Wall Street is not that different for us.”

 

Other News:

Rajat K. Gupta, former Goldman Sachs board member, is found guilty of insider trading. [DealBook]

More community banks are looking for deals in the face of new regulation. [WSJ]

J.P. Morgan global equity trading head Depak Gulati is deciding whether to leave the bank with a team of traders to start a hedge fund. [Bloomberg]

The financial advisor’s guide to social media. [Investment News]

France’s AXA private equity arm attracts $8 billion for a fund to buy bank assets. [Reuters]

Fairfax’s RiverStone insurer will buy Brit Insurance Limited of London for $300 million. [Reuters]

Former Citi head of proprietary trading Sutesh Sharma will start a London-based Portman Square Capital this fall with $500 million. [Financial Times]

Ten best U.S. cities for startups. [CNN Money]

Eric Kelly, a trainer at Church Street Boxing Gym in New York's Financial District, whips Wall Street bankers into shape—one insult at a time. [Businessweek]

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