Anything For You All: A $500 billion money manager has built an Amazon Alexa for Wall Street

May 07, 2018

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"She always beats me into the office."

Gavin Romm, a portfolio manager at financial giant AB, isn't talking about a senior executive at the firm or the new summer intern. He's talking about Abbie, the 12-week-old AI-powered personal assistant that is quickly taking over fixed income trading at the $500 billion money manager.

Abbie, which is like Amazon's Alexa but for Wall Street, is today used to complete mundane and repetitive tasks that might otherwise fall on junior level employees.

The ultimate goal for Abbie is to negotiate million dollar trades with other financial firms. Here's our story.

Elsewhere in finance news, Goldman Sachs says it will restart stock buybacks in the third quarter. And hedge fund Soroban is shutting its master fund and returning $4.1 billion in capital.

In deal news, Starbucks is rallying after Nestlé agreed to pay $7.15 billion to sell its coffee around the world. And AthenaHealth is soaring after Elliott Management made a $6.9 billion buyout offer.

In markets news:

Warren Buffett's Berkshire Hathaway had its annual meeting over the weekend. Here are the highlights: