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...The debt is split between $6.5bn of term loans, as well as $6bn of senior and junior bonds and a $500mn revolver....
...On Thursday, Morgan Stanley, one of Odey Asset Management’s biggest prime brokers, moved to cut ties with the business....
...They join from Morgan Stanley and Citi, respectively. Coatue Management managing director Aaron Weiner is leaving the group to start a new hedge fund, Bloomberg reports....
...A junior lawyer who manages to secure the title of general counsel in a start-up could struggle to move to a bigger firm if their prospective employer learns the reality of their actual role....
...Part of the more recent drive to bring back senior staff in particular more frequently is that banks are finding it harder to train junior workers if their managers are not with them in the office....
...Colleagues “were quite shocked”, she recalls, when they realised she would offer this for anyone, however junior. “People were like, how do I get a slot? And I’m like, well, just ask me.”...
...A junior colleague from that time recalls that he was noticeably warmer than most partners....
...It also highlights the scale of the opportunity banks such as JPMorgan and Citi, as well as Goldman Sachs and Morgan Stanley, see in wealth management....
...If companies default, the CLO distributes losses in a waterfall hierarchy: equity gets wiped out first, then junior debt, then senior. The senior investors get safety, the juniors get better yields....
...Those losses would balloon further if the remaining debt, including $3bn of junior loans, was sold by the banks into the market....
...When a junior banker working late for Goldman Sachs collapsed in 2016, management told staff at the investment bank to look after their health more seriously....
...“Lawyers need to hone their leadership skills,” says Jami McKeon, chair of Morgan Lewis....
...But providing organised cover can be a positive experience, for example for junior staff to step up. Some companies offer external placements....
...He made several “battlefield promotions” of junior staff that enabled a nimble response....
...That gave them leverage to hold out for a higher price even as Hotel Chocolat’s stock has lost about a third of its value since it listed on the junior London stock market in 2016....
...GDP for April “bounced back after a weak March”, said Darren Morgan, ONS director of economic statistics....
...However, the Syngenta IPO prospectus is available only in Mandarin, and no western banks have been publicly appointed even to junior roles. Syngenta and the banks declined to comment....
...Jane Fraser at Citigroup is the only woman running one of the major US banks and the leading contenders to take over as chief executive of another major Wall Street firm, Morgan Stanley, are all men....
...That figure was ahead of Goldman Sachs and Morgan Stanley, demonstrating Centerview’s pre-eminence in blockbuster situations....
...In 2019, an anonymous email outlining details of a harassment incident involving a senior dealmaker and junior female employee was sent to at least some members of the firm’s executive committee, according...
...Grace Speights, a partner in Morgan Lewis’s labour and employment practice, noted the impact of the court’s decisions would not be felt immediately, as lower courts would first need to establish how the...
...“Today juniors who join us think ‘I can start in Paris and build a career there’,” said Thierry Sancier, one of the co-heads of Goldman Sachs’s office by the Arc de Triomphe....
...Even better-performing banks like Morgan Stanley appear to be vulnerable to bonusmageddon....
...Morgan Stanley, Odey Asset Management’s other big prime broker, began cutting ties last week and has not softened that stance....
...The line was so good that he used it again when Mirror Group decided not to call former journalists including Piers Morgan to testify. The theatre matters....
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