We’ve been tracking big hires and exits across Wall Street. Here’s a look at this year’s must-know people moves.

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There’s been a mad dash for talent as Wall Street firms quickly overhauled their 2020 playbooks.

Equity and debt trading have surged as a result of the financial turmoil caused by the coronavirus outbreak. Hedge fund managers are responding to investors’ expectations to outperform amid the chaos by aggressively hiring experts to fine-tune their strategies. 

While many banks pledged not to cut jobs during the pandemic, it is expected those guarantees will wear off soon. While upper-middle-management roles might be at risk, firms are likely to want to hold on to senior executives and bankers in hopes of an eventual rebound in business. 

The upheaval of normal life due to the pandemic has also put a huge focus on digitalization, accelerating plans for firms across industries to upgrade or build out new tech. 

Here’s a roundup of some of the biggest appointments, exits, and hiring initiatives across the world of finance:

Trading 

Trader moves have been happening left and right. 

Another Deutsche Bank credit-trading exec just resigned, adding to a slew of senior departures at the firm

Inside an exodus at Deutsche Bank’s vaunted credit-trading desk, where even rock stars are feeling a pay squeeze that shows nothing’s off limits from the struggling bank’s cutbacks

A top credit-trading exec is out at Wells Fargo. The exit comes as the bank is pursuing billions in cost cuts.

Exclusive org chart of the most powerful people in Bank of America’s equities division, which just shook up senior leadership

Bank of America is shaking up its global equities division and its European regional head is leaving, according to an internal memo

JPMorgan’s top Treasuries trader Rob Allen has been placed on leave amid a compliance review of his electronic messages

Bank of America has poached a top junk-bond trader from Deutsche Bank, leveling up in one of 2020’s red-hot trading markets

Goldman Sachs just hired Kurt Hoffman, an expert in distressed situations and bankruptcy, to join a trading unit known for some of the bank’s most lucrative dealsRBC is snapping up key hires in distressed-credit trading as Wall Street preps for a feeding frenzyMorgan Stanley hired a top trader away from Deutsche Bank in distressed credit — an area primed for a boom as corporate debt gets crushed

Banking

Banks have been busy hiring for different initiatives, from chief marketing officers to teams to build out tech projects. Dealmakers have also reshuffled to lean into hot coverage areas. 

Wells Fargo’s longtime CMO will leave her role as part of a bigger marketing shakeup across the bank

After flashy hires and a big buildout, Perella Weinberg’s media and telecom team has been gutted. We tracked the exodus — and what it says about the landscape for blockbuster M&A deals.

Bank of America is shaking up its financials dealmaking group and just poached a senior Credit Suisse banker as it preps for a wave of bank M&A

Citi just poached a top operations and anti-fraud exec from Wells Fargo as it continues to build out its consumer bank

Citi just launched a new team that will apply data science to dealmaking. It shows how much tech is changing investment banking.

Goldman Sachs’ top tech exec explains how a fresh slew of senior hires are transforming the bank’s approach to building products

JPMorgan and Bank of America are reassigning staff to focus on troubled loans and companies amid a wave of pandemic-driven disruptions

Read the full memo Goldman Sachs just sent naming 4 execs to lead its private-equity investments across the merchant-banking division

2 coheads of Goldman Sachs’ private-investing business are retiring, in a blow to David Solomon’s fundraising plans

Read the full memo Goldman Sachs just sent to staff announcing its new head of regulatory affairs. The former White House counsel will be tasked with helping clean up the bank’s 1MDB drama.

Goldman Sachs just hired 2 senior recruiting execs focused on luring top talent from other firms —and it’s a huge departure from the firm’s traditional promote-from-within mentality

Hedge funds

There’s been a shuffle of quant leadership in at big-name shops in recent months, as firms rethink their data plays while the markets are upside down. They’re also hiring in hot areas like bond trading. 

$33 billion Citadel just poached an AQR exec for a new leadership role to supercharge billionaire Ken Griffin’s bond trading team

The head of Point72’s Cubist quant-trading unit is joining one of billionaire Steve Cohen’s top competitors

$60 billion quant fund Two Sigma just hired Goldman Sachs’ first-ever chief data officer to lead its massive tech team

$7 billion hedge fund WorldQuant is bringing on the former top quant at Goldman to help create the ‘future of quantitative investing’

Citadel just poached Two Sigma’s data chief for its tech team — and it’s the latest sign of how aggressively the $30 billion firm is pursuing top talent from Wall Street and Silicon Valley2 portfolio managers featured in ‘The Big Short’ are set to join the new hedge fund being set up by Steve Cohen’s former right-hand man

Wealth 

Wells Fargo has been shaking up its wealth management leadership team, including finding a new head who previously oversaw JP Morgan’s adviser unit. 

Wells Fargo CEO Charlie Scharf just hired another JPMorgan alum — this time, to run wealth management. Here’s how Jamie Dimon’s one-time protege has been building up his team.A veteran Wells Fargo Advisors exec who helped navigate sweeping regulatory changes to the wealth industry just retiredWells Fargo is moving a wealth exec into its scandal-plagued consumer bank to fill a new ‘accountability’ role as it seeks to appease regulatorsWealth management giant Merrill Lynch wants its worst-performing markets to catch up and just created a new role to oversee their progress

Cloud providers

Google and IMB  have been bringing on Wall Street talent in order to attract more clients from the finance sector to their cloud services. 

Google Cloud just poached a long-time Citi exec. Here’s why public-cloud giants keep adding Wall Street veterans to their ranks.IBM’s new head of cloud says there’s a $1 trillion opportunity in luring Wall Street firms and other holdouts onto the public cloud. Here’s his plan to take on AWS, Google, and Microsoft.

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