JPMorgan, Salesforce Join Growing List of Firms Dumping Office Space [WSJ]
At the end of 2020, 137 million square feet of office space was available for sublease across the U.S., according to CBRE Group Inc. That is up 40% from a year earlier and the highest figure since 2003…. JPMorgan started marketing 700,000 square feet of office space in lower Manhattan earlier this year. That is the largest block of space available for sublease in Manhattan, according to real-estate services firm Savills Inc…. Salesforce has listed space for rent in one of its San Francisco office buildings. Uber Technologies Inc. and Wells Fargo & Co. are also adding to sublease availability in that city, though the companies have indicated that decision was unrelated to work-from-home policies….
Amazon-Backed Deliveroo Secures $10.5 Billion Valuation in London IPO [WSJ]
The company, the U.K.’s answer to DoorDash Inc., said Tuesday it would sell shares at £3.90 apiece, below its initial target of as much as £4.60…. DoorDash Inc. priced its IPO at $102 a share in December, surpassing the San Francisco-based company’s expected price range of $90 to $95, but its shares have fallen by more than a quarter since. Shares in Just Eat Takeaway.com NV, which bought U.S. rival Grubhub last year for $7.3 billion, have declined by a third since their record high in October.
Florida Investor Commits $100 Million Toward Potential Bid for Tribune Publishing [WSJ]
Mason Slaine, a technology investor and minority shareholder in Tribune, told The Wall Street Journal he is willing to put up $100 million toward a bid being put together by Stewart Bainum, chairman of Choice Hotels International Inc.
Mr. Slaine, who owns a 3.4% stake in Tribune, said he would make the personal investment in order to acquire the publisher’s two Florida newspapers, the Orlando Sentinel and the Sun Sentinel in Fort Lauderdale…. Over the weekend, Mr. Bainum’s effort received a major boost when Swiss billionaire Hansjörg Wyss said he was committing $100 million to the potential bid with the intention of ultimately taking control of the Chicago Tribune.
GameStop shakeup rolls on, hires Amazon executive as chief growth officer [Reuters]
[Elliott] Wilke, who has spent nearly seven years at Amazon and last led its Fresh Stores business, will oversee growth strategies and marketing at GameStop…. The shakeup proliferated the company’s board as it announced the expected retirement of eight directors at its annual meeting this year…. The company on Tuesday also named former Chewy.com executives Andrea Wolfe and Tom Peterson to lead brand development and merchandising, respectively.
Morgan Stanley Executive Named Deputy at Turkey Central Bank [Bloomberg]
[Mustafa] Duman joins the central bank just over a week after the Turkish president sacked the third governor in less than two years in a decision that shocked investors and sent the currency tumbling. As deputy governor, Duman will be one of the seven members of the central bank’s monetary policy committee that sets the nation’s borrowing costs…. Another member of the policy committee, Omer Duman, was also removed during Tuesday’s shareholders’ meeting at the bank’s headquarters in Ankara….
The lira declined as much as 2.9% on the news of further upheaval at the bank….
Millennium Management has been quietly hoovering up London quant talent [eFinancialCareers]
Millennium's recent people acquisitions include Lawrence Barwick, a new short term systematic portfolio manager who arrived this month from Bainbridge Partners…. Other contemporary Millennium quant hires include Stephane Fischhoff, the former head of systematic macro at hedge fund Marshall Wace, who arrived in January.
Xinzhuo Huang, a former Morgan Stanley quant researcher, also joined in London this year, as did Tahina Randrianalijafy, a senior quant researcher from JPMorgan….
The inflow of London quants is occurring as Millennium builds headcount and adds new trading pods. Last year it had 265 in total.