Hints and tips:
...Tracy Chapman’s “Give Me One Reason” is blaring out of a mud-splattered Bose speaker on the passenger seat....
...— Former Alphavillain Tracy Alloway moderates a panel on credit at Milken. — Is this the beginning of the end of NFTs?...
...Six years ago, I went to El Corte Inglés in Madrid, and I tried every pillow in the shop....
...Meanwhile, El Salvador’s government is planning a volcano-fuelled bitcoin city that will also function as a tax haven....
...Turmoil at the company began a little over a year ago when Mr Gross’s co-chief investment officer, Mohamed El-Erian, walked out of the company, in part because of strains with Mr Gross....
...Mr El-Erian left the bond manager in January following reports of friction with Pimco’s founder Bill Gross, who left the firm last month....
...Payoff has won backing from Mohamed El-Erian, the former Pimco chief executive, as well as Joe Saunders, the former chief executive of Visa....
...Mohamed El-Erian, former Pimco chief executive, was the lead investor in a $12m equity raising for a p2p platform called Payoff and sits on its board....
...[they] will lever every single risk factor [they] can find,” says Mohamed El-Erian, Pimco’s former chief investment officer....
...The circus reached the point where tabloid reporters planted themselves outside Mr El-Erian’s door....
...Mohamed El-Erian, the former Pimco chief executive, has led a $12m round of financing and joined Payoff’s board. Joe Saunders, the former Visa CEO, is chairman....
...There have been squabbles at the top with the high profile departure of Mr Gross’ right hand man Mohamed El-Erian, and now the company is under investigation by the Securities and Exchange Commission....
...He is a great group CIO for Pimco,” said Mohamed El-Erian on Saturday....
...Some see Mr Gross’s departure, and that of his former partner Mohamed El-Erian earlier this year, as evidence that the task of managing large bond funds tied to an industry benchmark has become harder due...
...The turmoil deepened after Mr Gross’s main lieutenant and heir apparent, Mr El-Erian, left Pimco early this year....
...Mr El-Erian says: “It makes sense to accumulate some dry powder ahead of a possible market correction. The trick, of course, is timing.”...
...Detractors labelled the El Paso deal as another example of banks operating against the interests of their clients....
...Though mergers and acquisitions activity slowed to create one of the worst first quarters in recent years, Evercore has nabbed some of the more high-profile deals in the period, advising El Paso and Kinder...
...Earlier this year a US judge criticised Goldman’s role on the $38bn merger between energy companies El Paso Corp and Kinder Morgan....
...Goldman advised El Paso on its merger with Kinder Morgan even though the bank’s private equity arm owned a 19 per cent stake in the latter company and held two seats on its board....
...In fact, the US market has long been seen as an El Dorado for capital market participants keen to introduce the covered debt to new markets....
...The firm’s revenues surpassed $500m for the first time in its 16-year history, after winning high-profile deals including advising Kinder Morgan on its $37.6bn takeover of El Paso Corp....
...More recently, Goldman’s M&A practice drew scrutiny following its work on a $38bn tie-up between El Paso Corp and Kinder Morgan....
...Additional reporting by Tracy Alloway in New York...
...Then came the merger between El Paso and Kinder Morgan, the energy companies, where Goldman was criticised by a judge this month for conflicts of interest....
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