Wall Street’s future will be dominated by firms that embrace technology from electronic fixed-income trading to blockchain and predictive algorithms, reducing the need for people in the front and back office, according to McKinsey & Co. Global investment banks that successfully adopt automated trading and other measures can increase profit by 30 percent, the consulting firm said in a report released Wednesday. [Bloomberg]
What Does McKinsey Have To Do To Make A Few Tens Or Hundreds Of Millions Of Dollars Around Here?
Having its involvement with ICE publicized is so not what the consulting giant needs right now.
McKinsey Has Either Assembled An Incredibly Conflict-Free Client Roster Or Is Hiding Something
A competitor has a sinking suspicion it’s the latter.
New McKinsey Conflict-Of-Interest Scandal Emerges Just In Time
It wouldn’t be right for the consulting giant not to have at least one giant question mark hanging over it.
McKinsey Tells Lebanon About The Economic Benefits Of Legalizing Marijuana. Marijuana Gets Legalized
"You guys export marijuana? It'd be a lot cooler if you did"
Former Madoff Employee Pleads Guilty To *A* Madoff Securities Scam Just Not *The* Madoff Securities Scam
You know what has got to suck? When you decide to start charging stuff that doesn't fall under "business expenses" to your corporate card and engage in a few other amateur hours scams that probably wouldn't have been found out (or, if discovered, not taken to the authorities because your boss had high tolerance for fraud) but then they are because the CEO of your firm had to go and engage in the largest Ponzi scheme on record, which shone an uncomfortable light on company personnel and all of the cheese, popcorn, and salsa of the month clubs you joined (for example). Craig Kugel knows what we're talking about. The son of a longtime trader for convicted Ponzi scheme operator Bernard Madoff pleaded guilty to conspiracy and other criminal charges Tuesday, but denied any involvement in the decades-long fraud. Craig Kugel, the son of David L. Kugel, a former supervisory trader in Madoff's proprietary-trading operation, admitted to filing false forms that claimed people were on the Madoff payroll when they didn't actually work for the firm and to not declaring as income personal expenses charged to the firm's corporate credit card. Those individuals were paid salary and benefits, but weren't actual employees, he said. "I am sorry for my lapses in judgment in committing these federal crimes, but I want to make clear I had nothing to do with the Madoff Ponzi scheme and I was never involved in the Madoff trading operation," Craig Kugel said at a hearing before U.S. District Judge Laura Taylor Swain in Manhattan. Ex-Madoff Employee Pleads Guilty to Conspiracy [WSJ]
Man With Obvious Vendetta Against McKinsey Says He Has No Vendetta Against McKinsey
Jay Alix isn’t saying that destroying the consulting giant wouldn’t be nice, just that he’s doing it for the right reasons.