JPMorgan Offers Crypto to Wealthy Millenium All-In on Blackstone Eyes Hotels Cloud

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Hello and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:

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JPMorgan just became the first major bank to give private clients access to cryptocurrency funds Mike Blake / Reuters

The bank has given the green light to its financial advisers to give all of its wealth management clients access to cryptocurrency funds, making it the first major U.S. bank to do so.

Here is what it means.

IBM is banking on quantum computing. Here’s how he tries to boost Wall Street’s access to complex technology. Ross D. Franklin / ASSOCIATE PRESS

As quantum computing, which can quickly solve complex calculations, gains momentum on Wall Street, the technology requires significant resources that prevent some companies from using it. Take a look at how IBM is trying to change that.

JPMorgan plans to double the size of its financial advisor force to take on wealth giants like Merrill Lynch and Morgan Stanley Getty / John Lamparski

Although the bank is the largest in the United States, its wealth activity seeks to catch up with its larger competitors. Take a look at how he plans to do just that.

Millennium uses its AWS-hosted cloud technology as a key weapon to attract and retain top portfolio managers Phil McCarten / Reuters

As the war for talent rages among hedge funds, Millennium Management is using technology as a key element of value for recruitment and retention. We spoke with his chief cloud manager, who detailed how he uses technology as an essential tool for recruitment and retention.

Amazon, investment banks and even big tobacco are spending millions of dollars trying to get favorable marijuana laws AP Photo / Julio Cortez, File

Wall Street analysts say the legal cannabis market could be worth more than $ 100 billion by the end of the decade, with companies in the medical, consumer and financial services industries clamoring for a share. Here’s what you need to know.

Wells Fargo builds restaurant finance team ahead of expected wave of mergers and acquisitions Wells Fargo

Wells Fargo has chosen Meghan Hinds as the new restaurant finance manager, just two months after MUFG recruited eight bankers to the bank’s catering team. More on that here.

Top Family Office Experts Ask 4 Questions Billionaires Should Ask When Deciding to Start a Family Office Courtesy of Prostano; Courtesy of Melcher; Courtesy of McGee

Most advisors agree on a few common questions clients should ask themselves before setting up a single-family office, including how much they’re willing to spend. Find out what other things to consider before starting your own store.

Here is the 11-page pitch deck of a blockchain startup looking to revolutionize private market investing used to raise $ 48 million from investors like Morgan Stanley Securitize.

Securitize, which just raised $ 48 million from Morgan Stanley, Sumitomo Mitsui Trust Bank and others, is bringing blockchain technology to private markets to simplify investments. See his pitch deck here.

Blackstone’s Jon Gray considers hotels as travel recovers, reversing lowest ever exposure to tourism-related properties Mike Segar / Reuters

The president of Blackstone wants to increase exposure to hospitality-related real estate now that vaccinated passengers are returning to the skies. Get the full rundown here.

Odd lots:

How a Black Owned OCIO More Than Doubled Assets in One Year (Institutional Investor)

China weighs unprecedented penalty for Didi after US IPO (Bloomberg)

Wells Fargo Appoints Derek Ellington as Head of Small Business Banking Services (Business Wire)

Sololearn, an educational coding app, used this 22-page pitch deck to raise a $ 24 million Series B (Insider)

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