Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.
10 years after the financial crisis, Wall Street pessimist Albert Edwards thinks we're at risk of another major meltdown
It's been 10 years since the bankruptcy ofLehman Brothers triggered a devastating financial crisis, and not everyone is convinced we're in a much better place.
The outspoken Societe Generale strategistAlbert Edwardsis one of those people. Known for his long-running, often outlandish bearish forecasts, Edwards is not impressed with the progress we've made. Or, perhaps more accurately, he's skeptical of the progress we
)
)
)
Drawing much of Edwards' ire are central bankers. Sure, their accommodative policies helped dig the US out of the hole it dug for itself in and before 2008, but Edwards argues that they're culpable in causing the ordeal. They ignored warning signs and dismissed anyone who raised concerns, he says.
Goldman Sachs announces major leadership shakeup as incoming CEO David Solomon picks his team
Goldman Sachs announced a big shakeup to its leadership team Thursday as incoming CEO David Solomon moved to put his management team in place before taking over from Lloyd Blankfein.Goldman named John Waldron, one of three co-heads of the investment banking division, to president and chief operating officer, and effectively Solomon's No. 2, according to memos the firm sent to employees today. Waldron's new role will become effective Oct. 1.Stephen Scherr, the head of the consumer and commercial banking division, will become as chief financial officer, as CFO Marty Chavez shifts to become one of three co-heads of the securities division.Upstart exchange IEX snags its first listing from Nasdaq
The ex-Barclays CEO once dubbed the 'unacceptable face of banking' thinks banks should be taking more risks today
With the 10-year anniversary of the collapse of Lehman Brothers just two days away, many key figures from the financial crisis have taken the opportunity in recent days to reflect on their part in it.
Most have spoken of their regrets from the time, but largely struck a positive tone on the changes to the financial system that have occurred since then to make the world safer.
Former Barclays CEO Bob Diamond has struck a slightly different tone, however. He said in an interview on Thursday that banks need to be taking more risks today, not fewer.
Citigroup has found a new way to offer hedge funds obscure data that can give them an edge
Alternative data sets aren't so alternative anymore.At least according to Citigroup, which last week started giving clients access to data collected and analyzed by Thinknum, a four-year old startup which provides insights into a company's health that aren't readily available from conventional sources like financial reports and economic indicators.
The banking giant becomes one of the first on Wall Street to give its clients access to one of the myriad vendors that have sprung up in the last few years selling obscure data sets.
In markets news
- A fund manager who's crushing nearly all of her peers breaks down 3 under-the-radar stocks driving her strong performance
- Wall Street is turning its back on a crucial part of the tech industry — and it's threatening to tank stocks across the sector