Fintechs fight for Gen Z — Inside Citi's $900 million blunder — Bridgewater exec shakeup

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

  • Startups are leaning on TikTok stars like Charli D’Amelio to attract Gen Z onto their banking apps. 
  • Get all the details behind Citi’s $900 million mistaken wire. 
  • These are the people leading crypto efforts at top payment companies. 

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Fintechs are desperate to reach Gen-Z. Here’s how they’re using influencers like Charli D’Amelio to tap into what’s soon-to-be the largest generation of US customers.

Gen Z-focused fintechs are using social media, and its biggest stars, to attract young users onto their app. Here’s how startups like Step are using megastars like Charli D’Amelio to appeal to the group set to be the biggest segment of US consumers by 2026.

Click here to read the entire story.

Inside Citigroup’s $900 million error – one of the biggest blunders in banking history

Larry French/AP

Get all the juicy details on Citibank’s mistaken $900 million wire to Revlon lenders. Read more here.

In Texas, Citigroup has set up warming centers for thousands of workers while Schwab is directing staff to lodging and transport. Here’s how Wall Street is reacting to the disaster in the Lone Star State.

Here’s how financial firms are looking to help their Texas-based employees in the midst of one of the worst storms in the state’s history. Read more here.

Read the memo Bridgewater’s CEO sent staff about a leadership shake-up at the world’s largest hedge fund

Big changes coming to the world’s largest hedge fund. See more here. 

Meet the people at Visa, PayPal, Square, and Mastercard driving the payment giants’ embrace of crypto

Meet the leaders of crypto initiatives at the largest payment companies in the world. Get the full rundown here.

Wall Street people moves of the week: Here’s our rundown of promotions and new hires at firms like Goldman Sachs, Morgan Stanley, and Bridgewater

Goldman Sachs

Shawn Joshi departs from Morgan Stanley. Goldman Sachs’ Michael Daffey retires. Peter Engel and Erik Oken get promotions at JPMorgan. These are the people moves you need to know across the Street. Find out more here.

Odd lots:

Michael Klein Hits the SPAC Jackpot With Reddit-Adored Lucid (Bloomberg)

Learn more about the financial services industry.


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