Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:
- Wells Fargo executives explain why they believe the future of small-business lending will be digital.
- Jane Fraser is planning a Citi Reset Day and the bank is prepping all-virtual internships.
- Robinhood has confidentially filed for an IPO.
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Wells Fargo’s head of small business details lessons learned from the PPP rollout and the bank’s digital-first approach to SMB lending going forward
Wells Fargo’s small business head Steve Troutner took the role just one day after PPP was rolled out. Since then, banks have lent more than $700 billion. We spoke with Troutner and David Miree, Wells’ head of consumer and small-business diverse customer segments, about the bank’s PPP rollout.
Here’s what they said.
Corporate-card startup Ramp just scored another big hire, nabbing Uber’s global payments partnerships lead
Rohit Sabnis, Uber’s global payments partnerships lead, is leaving to join corporate-card startup Ramp. He joins a high-profile, growing staff. Read more here.
A 23-year-old college dropout and general partner at Polychain shares how to land a crypto job without a 4-year degree
We spoke with Niraj Pant, a general partner for Polychain’s investment team, about how he got a job without a degree. Pant explains how he did it — and how you can, too.
Citigroup’s 10-week internship program is going virtual for the second year in a row as Wall Street prepares for another summer of remote work
Citigroup’s interns based in North America can expect to start their programs remotely on June 7, a spokesperson said. Here’s what else you need to know about this year’s internship. We’ve also compiled a running list of the rest of Wall Street’s 2021 summer internship plans. Take a look.
The boom in sustainable investing has reached the junk-bond market. Some say it’s a theme ‘in the early innings,’ while others say it’s greenwashing.
Sustainability-linked bonds are finally hitting the US high-yield market, with $1.4 billion raised in 2021. Read more about the growing trend, and what investors think.
Robinhood has filed confidentially for a US IPO
Trading app Robinhood has filed confidentially for a US IPO. Read more here.
Melvin Capital Is Facing Nine Lawsuits Related to the GameStop Frenzy (Institutional Investor)
Professional services face losing junior staff to burnout (Financial Times)
These are the 9 new restaurant SPACs to know, as they raise millions to take restaurant chains and hospitality tech brands public (Insider)
Exclusive: Business payments firm AvidXchange preps for IPO, eyeing $7 billion valuation – sources (Reuters)
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