Michelle Abrego
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Articles by Michelle Abrego
How Wall Street’s rising stars are networking beyond the golf course Original
Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads An icon in the shape of a lightning bolt. Impact Link When Kate Casey had to choose between golf and mahjong as an activity at a work conference, she tried her hand at the popular Chinese tile game. "It's become really important to relationship building," the KKR principal and infrastructure investor told Business Insider. Casey has since become a regular player.
AI zmienia zasady gry na Wall Street. Tych umiejętności szukają dziś liderzy
Zapytaliśmy najnowszą grupę wyróżnionych przez Business Insider w zestawieniu Rising Stars of Wall Street, jakie umiejętności osoby wybierające ścieżkę kariery w finansach powinny opanować w erze AI. Z ich odpowiedzi wynika, że technologia nie tyle zmieniła zestaw kompetencji potrzebnych do odniesienia sukcesu na Wall Street, ile sprawiła, że stały się one ważne na wcześniejszym etapie kariery.
Wall Street's rising stars say these skills matter more than ever in the AI era Original
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Business Insider's Rising Stars of Wall Street include KKR's Kate Casey, Evercore M&A banker David Oppenheim, and private equity investor Asher Hecht from General Atlantic. Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads An icon in the shape of a lightning bolt. Impact Link AI is raising the bar for entry-level Wall Street workers.
By Alice Tecotzky, Alex Nicoll Verified, Bradley Saacks Verified, Ben Bergman Verified, Ashley Stewart Verified, Jennifer Sor Verified, Michelle Abrego Verified
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Business Insider
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The paths to Wall Street success: Where 25 rising stars went to school and started their careers Original
Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads An icon in the shape of a lightning bolt. Impact Link While there's no single route to the top of Wall Street, some paths are more well-trodden than others. Of the 25 rockstar professionals on Business Insider's Rising Stars of Wall Street, 11 attended Ivy League universities — more than double the five in last year's class.
Business Insider's 2026 Rising Stars of Wall Street
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1 / 25 Maya Venkatraman is helping create the blueprint for Wall Street's data-center debt boom. Venkatraman, a managing director, played a leading role in structuring a novel $3.2 billion bond for data center developer TeraWulf, with credit support from Google. "There wasn't really a playbook that existed," said Venkatraman, Morgan Stanley's US head of transportation and infrastructure leveraged finance.
By Michelle Abrego Verified, Bradley Saacks Verified, Alice Tecotzky, Ben Bergman Verified, Jennifer Sor Verified, Ashley Stewart Verified, James Faris Verified
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Business Insider
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Bank of America employee killed in Times Square stabbing Original
A Bank of America employee was killed in a stabbing in Times Square on Monday afternoon by a woman armed with two knives. Erin Piacenti, 32, was pronounced dead at a nearby hospital from stabbing injuries, the New York City Police Department confirmed Tuesday. Piacenti was a vice president of business selection and conflicts at the bank, according to her LinkedIn profile. "We are shocked and deeply saddened by the tragic loss of our colleague," a Bank of America spokesperson said in a statement.
LAST CALL: Nominate an up-and-comer for Business Insider's Rising Stars of Wall Street
Business Insider is putting together a power list of the young talent on Wall Street. • We want to spotlight the standouts in investment banking, investing, and sales and trading. • Please submit your ideas by September 9th. We're seeking nominations for Business Insider's list of rising stars on Wall Street, and we want to hear from you.
Everything we know about how biggest Wall Street banks are using AI Original
The nation's biggest bank is putting a lot of effort toward making sure it's an early mover in AI, with the help of a nearly $20 billion annual technology budget. Dimon has previously said he's out to win the AI arms race, and he thinks JPMorgan's $2 billion AI investment has already matched its cost in savings. The firm is keeping close tabs on how its tens of thousands of engineers are using AI, Business Insider reported.
Nominations for Business Insider's Rising Stars of Wall Street list are now open
We're seeking nominations for Business Insider's list of rising stars on Wall Street, and we want to hear from you. Submit your suggestions below or via this form. We're looking for the leaders of tomorrow, those making notable contributions or accomplishments and setting themselves apart from their class in investment banking, investing, and sales and trading.
LAST CALL: Nominate an up-and-comer for Business Insider's Rising Stars of Wall Street Original
We're seeking nominations for Business Insider's list of rising stars on Wall Street, and we want to hear from you. Submit your suggestions below or via this form. We're looking for leaders making notable contributions and accomplishments, setting themselves apart from their peers in investment banking, investing, and sales and trading.
Jamie Dimon is throwing a party to woo SpaceX employees who just struck it rich Original
A SpaceX-branded tomahawk steak carving station. That's the kind of extravagant detail JPMorgan put into a celebration for Elon Musk's rocket-making company's record-breaking public debut. JPMorgan is set to host around 250 SpaceX employees at its new Park Avenue headquarters for an intergalaxy-inspired evening with dinner and cocktails Friday, a source familiar with the bank's plan told Business Insider.
What bank execs are saying AI is doing to their workforces, from 'human assembly lines' to redeployment plans
David Solomon's most definitive statement about how AI will affect Goldman came in a memo he released in 2025 alongside the firm's president, John Waldron, and CFO Denis Coleman. The memo, announcing the third iteration of the bank's cross-bank initiative OneGS, said that AI will drive efficiency at the firm, which will mean slowing hiring and reducing roles.
What bank execs are saying AI is doing to their workforces, from 'human assembly lines' to redeployment plans
Bank CEOs have praised the pivotal efficiency changes promised by AI. Some have said AI will cut jobs, and others say it will create more employment opportunities. We looked at the public record to see what banking's top executives are saying about head count. Is AI coming for Wall Street's jobs? Not yet. Some 60% of the 240 financial services CEOs surveyed by EY said they think investing in AI will maintain or even increase their current head count in 2026.
The AI data center boom is moving closer to cities — and this Texas developer just raised $2 billion to bet on it Original
Texas has become a hot spot for jumbo-sized data centers in far-flung locations that provide the heavy computing for artificial intelligence training. Loading audio narration... The next phase of the AI boom is taking shape closer to where people live. DataBank, a Dallas-based data center developer and operator, is capitalizing on growing demand for facilities built closer to population hubs, where they can deliver AI models to users more quickly.
How the next gen of Tiger Cubs did in a rough quarter for hedge funds
The Tiger Cub network — made up of hedge funds connected to the late billionaire Julian Robertson's legendary Tiger Management — has added notable new launches in recent years. Neither the old guard nor the new was able to escape March's pain, however. Loading audio narration... Funds run by former executives and investors of hedge funds Viking Global and Lone Pine lost money last month, according to investor updates and people close to the managers.
One of the most stressful jobs in finance right now: private credit sales Original
The private credit boom created a lucrative job on Wall Street: selling the asset class to wealthy individuals hungry for returns. Loading audio narration... Now, as redemption requests climb and concerns about credit quality spread, the sales, fundraising, and business development professionals who helped fuel that growth are facing a new reality. They're focused less on bringing new money in and more about keeping it from flowing out.
Two Jump Trading stars are leaving the quant giant, exiting one of its most profitable units Original
Two top researchers at Jump Trading Group are leaving the quantitative trading firm. Loading audio narration... Yiming Zhang and Darko Kirovski, who joined the proprietary trading firm in 2009 and 2011, respectively, resigned this week, the company confirmed. Both were influential researchers in one of the largest and most profitable units at the firm, Jump Core Strategies, known for its prowess in high-frequency trading.
Wall Street CEOs keep getting pressed on AI — here's what banks have said about how they're using it
Citigroup has taken a bottom-up approach to embedding AI throughout the business, with 4,000 employees trained as something of AI stewards. The firm's AI tools are now available to 182,000 employees in 84 countries, and CEO Jane Fraser said on a fourth-quarter earnings call in January that adoption of the proprietary tools is above 70%.
Citadel's chief people officer leaves the firm as hedge funds battle for talent
Less than two years after leaving tech giant Apple for Ken Griffin's $67 billion hedge fund, Sjoerd Gehring has left Citadel. Loading audio narration... Gehring was the hedge fund's chief people officer, starting in late 2024 after stints at Apple, Johnson & Johnson, and Accenture. "We appreciate Sjoerd's time with us and wish him the best.
Banks were promised deregulation. Now they could have to spend billions to log citizenship data. Original
An executive order that's "in progress" could cost banks billions of dollars — and millions of hours. Loading audio narration... This week, Treasury Secretary Scott Bessent teased a coming executive order requiring banks to obtain citizenship data for new and existing account holders. When asked about potential pushback, he said banks should be ready to comply. "If Treasury and the banking regulators say it's their job, it's their job," Bessent said on Wednesday.
Data center executives fret over the industry's increasingly toxic public image Original
A swell of backlash against the data center development boom has left the industry struggling to reboot its image. Loading audio narration... The mounting opposition over issues such as rising power costs, water usage, and AI's broader impact on the job market and environment could threaten trillions of dollars of projects backed by Big Tech, Wall Street investment giants, and a growing collection of developers. Large and prominent projects have already become casualties of the blowback.
From cockroaches to 'comfortable': How bank leaders are now playing it cool on private credit Original
On an earnings call in October, after two high-profile bankruptcies sent the market reeling, JPMorgan CEO Jamie Dimon issued a blunt warning about the health of the credit market: "When you see one cockroach, there's probably more." Loading audio narration... Six months later, that now-infamous metaphor has taken on a life of its own amid growing investor jitters over the opaque private credit industry.
Private credit funds faced a $20 billion redemption rush. Here are 3 charts showing how much investors got. Original
Investors asked to take out $19.5 billion from private credit direct lending funds in the first quarter, according to a Business Insider analysis of SEC filings. Loading audio narration... However, firms only paid out 53% of requests, or $10.4 billion, across the 17 investment vehicles Business Insider analyzed. Nine funds decided to cap investor withdrawals to the maximum amount they are required to pay out per quarter (either 5% or 7%).
There will be losers from the rush into hedge funds. BlackRock explains how not to be one of them. Original
The hedge fund industry is expected to grow by hundreds of billions of dollars over the coming years — exceeding $6 trillion by 2030 — but not every investment will be a winner. Loading audio narration... Hedge funds will experience a "wider range of possibilities" than in the past, BlackRock states in a new report, due to choppy markets and the uncertain geopolitical environment.
ゴールドマンSは、強力なAIモデルによるサイバーリスクに対抗し、アンソロピックと協力している | Business Insider Japan
「プロジェクト・グラスウィング」と名付けられたイニシアチブを通じて、少数の組織がAnthropicの新モデル「Mythos」へのアクセスを得ている。 Samuel Boivin/NurPhoto via Getty Images ゴールドマン・サックスは、世界で最も強力なAIモデルの一つをいち早く検証する機会を得るとともに、そのモデルがもたらしうるリスクへの対策を迅速に進めている。 ゴールドマン・サックスCEOのデイビッド・ソロモン氏は、Anthropic（アンソロピック）の最新システムの公開が業界全体に警戒感を呼び起こしたことを受け、同行はアンソロピックと緊密に連携してサイバーセキュリティ上の脅威を評価していると述べた。ソロモン氏は、同モデルの能力を「強く意識している」とし、潜在的な脅威に備えるためアンソロピックおよび自社のセキュリティベンダーと協力していると言う。...
JPMorgan exec says the bank is 'broadly comfortable' with its $50 billion private credit exposure Original
As several Wall Street banks reported first-quarter earnings on Tuesday, executives had to answer for their exposure to the private credit market, which has been under a microscope recently. Loading audio narration... CFO Jeremy Barnum estimated the bank's exposure to private credit funds was $50 billion. "We're broadly comfortable with it," Barnum said on a call with analysts.
Investors were caught 'flat-footed' by the 'grit' of the Iranian people, Citadel's Ken Griffin says Original
As Ken Griffin said, hedge funds are paid to deal with market volatility, and for the most part, his firm and several peers managed March's chaotic markets reasonably well. Loading audio narration... But what caught the investing community "flat-footed" was the "grit and perseverance of the Iranian people," said Griffin, the CEO of $69 billion Citadel, at Semafor's World Economic Forum on Tuesday.
BlackRock says the private credit 'shakeout' is an opportunity for the $13.9 trillion fund giant to dominate Original
Less than a year after BlackRock's $12 billion acquisition of private credit powerhouse HPS Investment Partners, one of Wall Street's hottest asset classes is now showing signs of strain. Loading audio narration... But the world's largest asset manager sounds calm about current concerns.
Citi is betting its costly hiring spree will pay off Original
In a January memo to employees, Citigroup CEO Jane Fraser urged bankers to move faster and aim higher as she pushed the firm beyond its yearslong revamp. Loading audio narration... Now, the costly reality of hiring the dealmakers to realize that vision is showing up in the numbers.
Goldman está trabajando con Anthropic en los riesgos cibernéticos de la IA tras la preocupación con Claude Mythos
El CEO de Goldman Sachs, David Solomon, y líderes bancarios se reunieron con altos funcionarios la semana pasada sobre el riesgo. El ejecutivo del banco abordó la reunión en una conferencia con accionistas y dijo que la ciberseguridad era una prioridad principal. Las habilidades avanzadas del nuevo modelo de Anthropic han alarmado a funcionarios y expertos. El ejecutivo de Goldman aseguró tras la presentación de resultados de este lunes que el banco estaba redoblando la protección cibernética.
Goldman is working with Anthropic on AI cyber risks after new model sparks concern
mabrego@businessinsider.com (Michelle Abrego,Reed Alexander) Anthropic's new Mythos model has alarmed officials and AI experts for the advanced abilities it's touted. Goldman Sachs CEO David Solomon and banking leaders met with top officials last week about the risk. Solomon addressed the meeting in a call with shareholders and said cybersecurity was a top priority.
Goldman CEO says bank is working with Anthropic on AI cyber risks after new model sparks concern Original
Goldman Sachs is getting an early look at one of the world's most powerful AI models — and moving quickly to guard against the risks it could pose. Loading audio narration... CEO David Solomon said the bank is working closely with Anthropic to assess cybersecurity threats tied to its latest system, after the rollout raised alarms across the industry.
M&A is still forging ahead in spite of the Iran conflict, Goldman's CEO says — for now Original
As tensions over the Strait of Hormuz raise the risk of oil market disruption, Goldman Sachs CEO David Solomon said Monday that the conflict in the Middle East has not yet slowed the dealmaking machine. Loading audio narration... "The environment for investment banking activity continues to be incredibly robust, particularly M&A activity," Solomon said during the bank's first-quarter earnings call, where Goldman reported about $17 billion in revenue.
Citi is stepping up its data center financing push — and aiming to close the gap with Wall Street rivals Original
Citi is eyeing the AI dealmaking frenzy as its moment to close the gap with Wall Street rivals. Loading audio narration... In late February, the bank established an AI Infrastructure group, noting in an internal memo that the build-out could require an estimated $3 trillion in capital by 2030 — and that Citi wanted to build a "leadership position" in the space.
Some hedge funds are expanding in Miami — but its share of prized portfolio managers has fallen Original
One takeaway from Miami's annual hedge fund week earlier this year was the lack of attendees with plans or desires to relocate to Florida, which has for years been talked about as a cheaper, warmer alternative to high-tax cities like New York and San Francisco. Loading audio narration...
BNY offers $6,500 for some homebuying employees, as even Wall Street workers struggle with housing costs Original
Even Wall Street workers are finding themselves priced out of housing. BNY is offering $6,500 to help. Loading audio narration... The bank said on Wednesday that US employees earning $100,000 or less may qualify for the payment toward the purchase of a first home. The program also includes home buyer education and access to mortgage benefits, part of a broader push to help workers build wealth as housing affordability worsens nationwide.
This hedge fund launched with billions, then cruised under the radar. It has quietly doubled in size. Original
2024 was a marquee year for hedge fund startups, producing a hefty crop of pedigreed funds, including two of the largest launches ever: Jain Global and Taula Capital, both of which started with $5 billion or more in investor commitments. Loading audio narration... The third-largest of that year, Freestone Grove, has cruised under the radar — even as it has doubled in size.
Jamie Dimon warns high taxes could push people out of New York — but Wall Street isn't leaving yet Original
Jamie Dimon warned that companies could leave high-tax cities like New York — but so far, they aren't. Loading audio narration... In his annual letter to shareholders, the JPMorgan CEO said New York City has "much going for it," but it also has high corporate and individual income taxes that are inhospitable to some businesses.
Jamie Dimon says if you want to win competitive battles, you need small 'Navy SEAL' teams to move faster Original
Jamie Dimon might run America's largest bank, but he's focused on assigning the firm's biggest competitive battles to small teams. Loading audio narration... In his annual letter to shareholders, Dimon, who has been JPMorgan's CEO since 2006, shared a range of management lessons he's learned, from organizing effective teams to creating company culture. Though JPMorgan employs some 320,000 people, Dimon said said that "the real competitive battles" are waged by small, laser-focused teams.
Jamie Dimon warns of a 'skunk at the party' for markets in his annual shareholder letter Original
Jamie Dimon is back with another animal metaphor — this time, a warning about a "skunk at the party" for the economy. Loading audio narration... The JPMorgan CEO warned in his annual letter to shareholders, released on Monday, that inflation could be rising instead of continuing to fall. "The skunk at the party — and it could happen in 2026 — would be inflation slowly going up, as opposed to slowly going down," he wrote.
The new investing edge might be hiding in firms' own data Original
For years, sophisticated asset managers gained an edge thanks to unique intel that didn't come from traditional market sources like stock exchanges. Now, the advantage is inside their own firms. Loading audio narration... Hedge funds and others were better able to predict quarterly earnings and commodity prices thanks to so-called alternative data from aggregated credit-card receipts, retail foot traffic tracked by cellphones, and satellite images of crop fields.
How Wall Street tries to keep junior hours in check, from weekly guidelines to 'pencils down' periods Original
JPMorgan CEO Jamie Dimon has said that people will probably be working 3.5 days a week within a few decades, but in the meantime, many of his own bankers are still logged on far more than the typical 40 hours. Loading audio narration... Junior bankers, known as analysts and associates, work notoriously grueling hours across firms, which have come under renewed scrutiny in recent years.
Blue Owl is facing $5.4 billion in redemption requests. Here are 6 things to know about the private credit firm. Original
The rush for the exits in private credit has reached a whole new level. Loading audio narration... Blue Owl received a record $5.4 billion in redemption requests across two of its retail-oriented funds on Thursday — the largest withdrawals yet in a wave of many that have hit the industry's biggest players over the last five weeks. They cement how private credit has quickly turned from one of the hottest assets on Wall Street to a growing source of anxiety.
Inside the data center financing boom — and the teams Wall Street is building to win it
Wall Street banks are racing to finance AI data centers, as deals swell into the tens of billions, forcing a rethink of how these projects are funded. Loading audio narration... "If you can't invest a billion dollars, we don't even want to talk to you," said Adam Lewis, a managing director at Citizens, a regional lender that has emerged as a key player in the sector. Just a few years ago, a $100 million financing was a milestone; today, it's a rounding error.
Hedge funds' first-quarter returns are rolling in. Here's how big names fared in choppy markets. Original
For the second year in a row, March wasn't pretty for many big-name hedge funds. Loading audio narration... Dmitry Balyasny's eponymous manager was down 4.3% on the month, a person close to the firm told Business Insider. For the year, the $33 billion firm is down 3.8%. London-based hedge fund LMR Partners lost 2.4% in its multistrategy fund, a source close to the manager said. Walleye Capital was down 1.3% in March. Some firms were able to mitigate the damage.
JPMorgan's investment in the 'American Dream' comes during a crisis of faith in capitalism Original
Jamie Dimon wants his bank to save the American dream at a moment when many Americans are losing faith in its economic promise. JPMorgan announced a sweeping initiative aimed at expanding opportunities for upward mobility on Tuesday. It's "American Dream Initiative" will focus on six key areas: small-business growth, housing affordability, financial literacy, skills-based training, healthcare, and local institutions, such as schools and hospitals.
10 power players behind the data center debt boom
Fang is familiar with 13-figure sums. In 2020, Bank of America put her in charge of an effort to lend $1.5 trillion by 2030 to projects with a sustainable theme, including renewable energy, clean transportation, carbon capture, and community development.
$50 billion Tiger Global just turned 25 years old. Here are some of the famous people who have given the firm advice over the years. Original
A quarter-century ago, Chase Coleman's firm started trading with $42 million and a name, Tiger Technology, that it would soon sunset. The now-$50 billion manager, known as Tiger Global, sent a letter to its backers at the start of March reflecting on its 25 years of investing.
Private credit pressure may be making headlines, but the plan to put it in your 401(k) isn't slowing down Original
Earlier this month, a leader of the agency tasked with regulating markets and protecting investors laid out the agency's priorities, tying plans to open retirement funds to private-market investments and to boost crypto to America's 250-year history of enabling the "pursuit of happiness." Loading audio narration...
Elliott's Paul Singer: Hedge fund talent war is 'exaggerated' by a good market and higher fees Original
Millennium's founder, Izzy Englander, called hedge funds' talent shortage a bubble. Citadel's Ken Griffin described portfolio managers and the like as a "scarce resource" within a "profitable value chain," noting that compensation would increase in such a situation because "that's where the money flows," in a 2025 talk. Loading audio narration...
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