The competition for junior talent between private equity and Wall Street banks reached a new peak this summer. That’s thanks to a controversial recruiting practice that is causing both industries to find talent earlier and earlier.

Now, powerful figures such as JP Morgan Chase CEO Jamie Dimon are publicly decrying the strategy. The FT’s Wall Street editor Sujeet Indap and banking editor Ortenca Aliaj explain the origins of this friction and what it says about the future of Wall Street and private equity’s top firms.

Clip from the Psaros Center for Financial Markets and Policy

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For further reading:

Wall Street vs private equity: can anyone stop the grad recruitment creep?

Is investment banking still a jewel in Wall Street’s crown?

Private equity abandons early recruiting after Jamie Dimon fightback

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Follow Ortenca Aliaj on X (@OrtencaAl) and Bluesky (‪‬‪@ortenca.bsky.social‬), and Sujeet Indap on X (@sindap) and Bluesky (‪@sindap.bsky.social‬‪‬). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Can Tim Cook save Apple from the trade war? Has Mark Zuckerberg really been a fan of Donald Trump all along? And is the bromance between Elon Musk and the president really over?

In a new season of Tech Tonic, Murad Ahmed explores the relationships between Trump and some of the titans of the tech world. What is really driving those relationships, and what might they mean for the future of technology in the US and beyond?

Free to read:

‘He is power’: billionaires line up for Donald Trump’s inauguration

Donald Trump lashes out at Apple over plan to ship US iPhones from India

How Jeff Bezos made peace with Donald Trump

What has Elon Musk’s Doge actually achieved?

How Joel Kaplan became Mark Zuckerberg’s most trusted political fixer

How Peter Thiel and Silicon Valley funded the sudden rise of JD Vance

This season of Tech Tonic is presented by Murad Ahmed and produced by Josh Gabert-Doyon. The senior producer is Edwin Lane and the executive producer is Flo Phillips. Sound design by Breen Turner and Samantha Giovinco. Original music by Metaphor Music, Manuela Saragosa and Topher Forhecz are the FT’s acting co-heads of audio.

Hosted on Acast. See acast.com/privacy for more information.

Top consulting firms have repeatedly found themselves facing a reputational crisis. The most recent example was in early July, when a Financial Times investigation revealed that Boston Consulting Group had modelled a plan to ‘relocate’ Palestinians from Gaza after entering into a multimillion-dollar contract to help launch an aid scheme for the enclave.

In this week’s episode, the FT’s US accounting editor, Stephen Foley, explains his reporting and examines what these events say about how effective the consulting industry’s ability to avoid reputational scandals is.

Clips from the UN

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For further reading:

BCG modelled plan to ‘relocate’ Palestinians from Gaza

Inside Gaza’s ‘death traps’

The little-known group poised to take over Gaza’s aid

BCG gets caught up in a scandal in Gaza

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Follow Stephen Foley on X (@stephenfoley) and Bluesky (‪@stephenfoleyft.bsky.social‬). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.