Morning Coffee: Barefoot Lloyd Blankfein has interesting new friends. Senior M&A banker's wild home
If you'd ever wondered how things can be when you've spent years in banking, earning plentiful millions, before retiring aged 64, let Lloyd Blankfein be your guide. The former CEO of Goldman Sachs isn't just spending his time bitching with Bernie Saunders, he's also hanging out. Hanging out with celebrities, on yachts.
Following a Tweet by journalist Yashir Ali, Blankfein has been spotted frequenting the $400m super-yacht belonging to David Geffen, founder of the record company that signed the Eagles, Guns N'Roses and Aerosmith. You can see Blankfein in Ali's photo below.
While Blankfein on a yacht might be enough to get some Goldman Sachs bankers interested, it's his companions who've been causing excitement elsewhere. Blankfein is pictured with his arm around Oprah Winfrey, not far from model Karlie Kloss and Joshua Kushner (brother of Jared).
While Blankfein isn't exactly your average ex-banker, the implication is that a career in finance is no longer the fast-track to becoming a social pariah that it appeared to be after the financial crisis. Blankfein's blossoming Oprah friendship might be read as a proxy for the social rehabilitation of senior finance professionals everywhere. If Jamie Dimon doesn't want to run for President, he could yet go to Hollywood.
Seperately, the Sunday Times has belatedly highlighted the lavish London residence of Ravi Gupta, the global head of industrials banking at Rothschild. The paper notes that Gupta's Hampstead home appeared in a London magazine last summer, in which said he'd approached the interior with a view to conjuring an "Indian palace," that wasn't actually a palace.
Accordingly, Gupta - who has spent over two decades at Rothschild - has jewel-covered sofas, a rug woven from vintage saris, tables made from 1,000 year-old petrified wood, a Steinway grand piano, hand-painted silk Fromental wallpaper, a Hollywood style walk-in wardrobe, and an alcove lined with 23.5 carat gold...
Goldman Sachs has got a new high speed trading project called Atlas, which targets quant funds, run by Mike Blum. It's been hiring researchers and quants to improve its algorithms. (CNBC)
Deutsche Bank set aside $1.1 billion to cover the cost of offloading derivatives in its bad bank. (Reuters)
Deutsche Bank chairman Paul Achleitner spent €992,380 on Deutsche Bank stock. This might be taken as an indication that the bank's restructuring won't get any deeper. (Financial Times)
Valdis Dombrovskis, the EU's financial regulation chief, says banks need to get ready for a no-deal Brexit. (Financial Times)
Citadel hired Jonathan Bayliss, former head of macro rates and a partner at Goldman Sachs Asset Management, Vishnu Kurella from Caxton and Eric Rains from Bluemountain. It wants to, 'capitalise on the market opportunities thrown up by dramatic central bank shifts towards looser monetary policy.' (Financial Times)
Citadel traders Michael Rockefeller and Karl Kroeke are setting up a new fund, Woodline Partners. (Bloomberg)
SocGen's investment bank has now entered the 'execution phase' of its restructuring plan. (Financial Times)
Are you sure you want to do an MBA? The average MBA student has $39,900 in loans from the government. MBA students from Northwestern University’s Kellogg School of Management have an aveage of $116,420, and New York University’s Stern School have an average $105,931. (Wall Street Journal)
You might find outgoing RBS chief executive Ross McEwan in South London cafe Flotsam & Jetsam, which is owned by his daughter. (Sunday Times)
A Labour government in the UK would launch a public inquiry into Britain’s financial industry to “reveal and root out corruption.” (Financial Times)
Hong Kong bankers joined a flash mob as part of anti-government protests. (South China Morning Post)
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