Happy hump day!
Really interesting story out of Bloomberg regarding Blackstone's plans to sell data from companies in its portfolio.
The story touches on two major themes on Wall Street. The first is alternative data, or the use of obscure, non-traditional data sets in order to gain an edge investing. We're written quite a bit on the topic, and how crowded the market is for selling such data, but it's interesting to see Blackstone contemplate dipping its toe in the water.
Blackstone's data plans also highlight the push from investors to generate revenues streams outside of investing. The best example of this in the industry is BlackRock's Aladdin, the widely-used risk and portfolio management tool.
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Meet the key people recruiting and poaching financial advisors across the industry.
Rebecca Ungarino with a great look at the recruiters and executives who are tasked with luring in talent, and the deep-pocketed clients that come with them, to firms like Wells Fargo, JPMorgan, and UBS.
The whole process took an interesting twist in 2020, as the world went virtually, making these roles even more important.
Click here to read the entire story.
Here's how much banks handling DoorDash's $3.4 billion IPO received in fees
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Struggling to get a handle on all your rewards and loyalty programs? Bakkt has got you covered. Carter Johnson has the rundown on how the startup wants to help consumers manage all their digital assets. Read more here.
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