Here are the 30 most powerful people in Bank of America's $8 billion bond-trading division, which just had a big shakeup

COO Tom Montag oversees one of the most formidable FICC divisions on Wall Street. Here are his top executives and lieutenants.

January 17, 2020   |   View Online »

Here are the 30 most powerful people in Bank of America's $8 billion bond-trading division, which just had a big shakeup Alex Morrell,Yutong Yuan | COO Tom Montag oversees one of the most formidable FICC divisions on Wall Street. Here are his top executives and lieutenants. Read More »

House-flipping iBuyers have nabbed waves of VC funding, but have only gained traction in a handful of markets. Here's how they work and what's keeping them out of places like Boston and New York. Alex Nicoll | Phoenix is the hub of iBuyer activity, with startups like SoftBank-backed Opendoor gaining traction. The model's expansion has centered around the Sunbelt. Read More »

A big reorg is underway in Bank of America's bond-trading division, and the global head of credit is leaving the firm. We have the memo with all the moves. Alex Morrell | The bank is forming two units and appointing new leadership. Frank Kotsen, the global head of credit trading, is leaving the company. Read More »

Charles Schwab pulled the plug on a nearly $100 billion program that distributed rivals' ETFs — and it's a direct result of axing trading commissions Rebecca Ungarino,Bradley Saacks | The move underscores the tug-of-war going on between asset managers desperate to cut costs and distribution platforms racing to be the cheapest. Read More »

Mortgage trading had its hottest year since the Great Recession, helping Wall Street investment banks blow past revenue estimates Alex Morrell | Industry experts say Wall Street mortgage-bond trading topped $2 billion in 2019 — the largest tally in a decade and a more than 550% gain from 2018. Read More »

Larry Fink, CEO of the world's biggest asset manager, says BlackRock's massive Aladdin platform is really just a tech startup Bradley Saacks | Fink told analysts that he was proud Aladdin will soon top $1 billion in revenue. He cited stats that only 3% of tech startups reach that point. Read More »

Digital-only banking is super buzzy, but consumers don't think branches are going away any time soon Shannen Balogh | A survey of US consumers showed that the majority still think the future of banking will include at least some brick-and-mortar locations. Read More »

The CEO of a startup that raised $40 million from Goldman Sachs without a pitch deck explained why companies should hold out on funding as long as possible Dan DeFrancesco | George Azih told Business Insider he waited nearly 10 years before raising money to prove out the business model. Read More »

Here's a look at how SoftBank's dotcom era investments played out — it's a crucial history lesson if you want to understand the Vision Fund Bani Sapra,Dakin Campbell | SoftBank raised more than $1 billion for SoftBank Capital Partners in 1999 and plowed it into tech startups, including Webvan and Kozmo, before suffering a 50% failure rate. Read More »

Elon Musk keeps traveling to Texas to work on SpaceX's new Starship rocket. A local thinks the CEO now uses a historic home as a crash pad — take a look inside. Dave Mosher | The SpaceX founder is pushing workers to develop a revolutionary rocket launch system at a breakneck pace in a hamlet called Boca Chica, Texas. Read More »

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