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Morgan Stanley's WhatsApp woes a?? How to get hired at Blackstone a?? Private equity comp, revealed

Happy Saturday!It was a busy week for Wall Street news, with fines, exits, pay cuts, and more. Here's what you need to know:

2 top Morgan Stanley commodities execs have left after the bank discovered the group was improperly using WhatsApp to communicate. A source familiar with the matter told Business Insider the two had displayed a "failure to supervise use of the communications within the commodities business."



Goldman Sachs is paying billions in fines over the 1MDB scandal and cutting exec pay. Here's what's been going on inside the bank.



JPMorgan is considering hiring as many as 4,000 financial advisors in the next five to six years, wealth boss Kristin Lemkau told Business Insider. The firm has already hired large teams of experienced FAs from rivals including Merrill Lynch and UBS in recent months.



Wells Fargo is exploring a sale of its asset management business, Reuters first reported.

How to ace an interview at Blackstone

Reed Alexander and Casey Sullivan chatted with Blackstone President and COO Jon Gray, industry headhunters, and Blackstone's global head of human resources to learn what it takes to stand out and get hired at the firm. Here are some of the highlights:

There were 19,000 applications for Blackstone's 2020 first-year analyst class, and just 94 were hired, according to data Blackstone shared.



"At a place like this, we have relatively few people. And we really need people who care," Gray said.



"I look for too many references to 'I' versus 'we,'" Paige Ross, Blackstone's global head of HR, told Business Insider. "Most people do things as part of a team, and I want to see candidates accurately reflect that."



You can read the full story here: Blackstone insiders reveal how to land a job at the ultra-competitive private-equity giant

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Morgan Stanley's WhatsApp woes a?? How to get hired at Blackstone a?? Private equity comp, revealed


Sawyer Click/Business Insider

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