☕ NYC bonuses

Good morning. As expected, a New York State Comptroller report showed that 2022 was a tougher (but not quite that tough) year for finance pros in NYC.

Good morning. As expected, a New York State Comptroller report showed that 2022 was a tougher (but not quite that tough) year for finance pros in NYC.

The report showed that the 2022 bonus pool for NYC securities industry workers fell by 21% to US$34bn — from $43bn in 2021. The average securities worker still netted a US$176k bonus. (more below)

Enjoy the weekend ✌

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MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: Zip sold off a bunch of businesses it acquired in peak BNPL mania (aka the 2020-2021 era) which will net them $20m.

The only thing we know is that Zip originally paid around $140m for Twisto. No idea how much they paid for Payflex.

The company is simplifying down to focus on just the ANZ and US markets.

THE QUICK SYNC

  • The banker Switzerland trusts to stop the bleeding. (SMH)

  • Wall Street bonuses tumbled 20%+ last year amid dealmaking slump. (FT | USN)

  • Australian banks in better shape now than before the GFC: Chalmers. (AFR)

  • Why McKinsey says M&A isn’t dead. (AFR)

  • The $382b Alibaba split that could heal old wounds. (SMH)

  • Russia arrests WSJ reporter and accuses him of espionage. (TG)

TRADING FLOOR

M&A:

  • Quadrant acquired a trio of Kiwi cybersecurity businesses, including Quantum, ZX Security and Helix Security. (AFR)

  • Allegro is understood to have talked with BWX about a deal. (AFR)

  • Mapletree buys Sydney warehouse, capitalising on logistics demand. (The Australian)

  • Wyloo's takeover talks have been hit by a product quality problem at Mincor Resources. (AFR | The Australian)

  • Morgan Stanley Infrastructure is believed to be weighing a rival offer for Healius. (The Australian)

  • Accent is considering a sale of its Glue apparel chain. (The Australian)

  • Paine Schwartz Partners has lifted its stake in Costa Group to 15%. (The Australian)

  • West End’s Parched Craft Brewery has appointed administrators who are seeking to sell the business. (The Australian)

Capital Markets:

  • JPM and MacCap are calling for bids into two separate bookbuilds: $320m into the HealthCo REIT and $125m into HMC Capital. (AFR)

    • MoneyMe, HMC Capital and its satellite fund have released terms of their equity raisings. (The Australian)

  • CEFC tipped in $25m at Artesian’s green and sustainable bond fund, led locally by David Gallagher. (AFR)

  • BofA, HSBC and JPMorgan ramp up Northern Star Resources' US bond talks. (AFR)

  • BC Invest kicks off RMBS talks for its first deal of 2023. (AFR)

VC:

  • BiVACOR, an artificial heart group has raised an $18m round led by OneVentures. (AFR)

Others:

  • Banks involved in the Newcrest Mining/Newmont talks dominate the top five spots in the first quarter league table. (AFR)

TOGETHER WITH ARCHIE ROSE

Archie Rose is giving away an $8K custom whisky cabinet from Eclipse Furniture, complete with a selection of our award-winning whiskies!

To celebrate the launch of Tailored Whisky, which gives whisky lovers around the world the opportunity to customise their own individual bottle or case of Single Malt Whisky, we're giving away a prize that also includes...

  • Archie Rose’s award-winning Single Malt Whisky, Rye Malt Whisky and Single Paddock Whisky Harvest 2018 along with two bottles of Archie Rose Tailored Whisky.

  • And that's not all – the winner will also receive a cocktail barware set and four matching Glencairn glasses.

The custom whisky cabinet will be handcrafted by the team at Eclipse Handcrafted Furniture in Sydney using solid Australian hardwood and available in a colour and finish of your choice.

THE WATERCOOLER

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