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Life at Wall Street headhunting firm Durlston Partners appeared picturesque, but some insiders say that wasn't the reality


It’s almost Friday. Dan DeFrancesco checking in from NYC. I’d like to personally thank Steve Cohen, or “Uncle Stevie” to us Mets fans, for all-star Carlos Correa, the latest in a string of signings for the Mets this offseason that have totaled more than $800 million.

For more on how Cohen went from hedge fund shark to beloved sports owner (at least among his own fanbase), check out our profile

Today, we’ve got stories on book recommendations that make a perfect last-minute gift for the Wall Streeter in your life, why some hedge funds are feeling generous with their clients, and what to do if you get bumped from your flight home over the holidays

But first, inside a headhunter’s rapid ascent. 


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Durlston Partner founder Vax Bahram surrounded by quotes from various communications with company employees


Source; Marianne Ayala/Insider



1. Life at Durlston Partners.

Insider’s Alex Morrell has a gripping report on life at Durlston Partners, a headhunting firm that places talent at some of Wall Street’s biggest buy-side firms.

Durlston Partners, or “DP” as it was known within the company, promoted an unbeatable culture. But some employees who worked there allege CEO Vax Bahram also created a culture of fear.

Sometimes you just need to let the story (and the text messages) speak for itself.

Click here to read more about life inside Durlston Partners and allegations about the leadership of Bahram.


In other news:

Celebrities who went viral on TikTok in 2022.


Celebrities made their mark on TikTok in 2022.

TikTok: @henry.winkler, Henry Winkler, @lizzo, Lizzo, @megangrass12, Megan Grass



2. These books don’t suck. If you’re still scrambling to sort out some last-minute holiday gifts, we’ve got you covered. We asked our past few classes of Wall Street rising stars to recommend books. Here are the 35 they picked that’ll be the perfect stocking stuffer for the banker or trader in your life. (And if I might add a personal suggestion, “Going Public” by Insider’s own Dakin Campbell is a terrific read as well.)

3. Top hedge funds are up so big they’re sharing the wealth with clients. While bankers aren’t sure if they’ll even get a bonus, hedge funds are doing so well they’re planning to return some profits to their clients, The Wall Street Journal reports. Here are the funds who are feeling generous after a banner year

4. What to expect in healthcare in 2023. We asked 7 bankers and investors to make some predictions about the space next year. From big bets being placed on AI to a rise in direct-to-consumer startups, here’s how they see 2023 shaking out.

5. JPDimon. Jamie Dimon’s 17-year tenure on the top of JPMorgan has made him the face of Wall Street. But, as this profile from Bloomberg digs into, who will take the throne at the bank when Dimon finally decides to step down? Here’s more on JPMorgan’s succession plan

6. SBF arrives in the US to face fraud charges. The FTX founder was extradited on suspicion of committing “one of the biggest financial frauds in American history,” authorities said. Meanwhile, US attorneys say two of Bankman-Fried’s top associates, Caroline Ellison and Gary Wang, plead guilty to fraud and are cooperating with authorities. Ellison, the former CEO of Alameda Research, is facing up to 110 years in prison.

7. Learning TikTok dances could help you close some deals. Consolidation is coming to the creator economy, which means more dealmaking (and fees!). Here are a rundown of the 22 deals this year, along with top trends set to define the space in 2023, according to experts

8. The secret to your success could be a parasite in your brain that’s found in cat poop. The microorganism Toxoplasma gondii, or Toxo, leads to an elevated appetite for risk in its host. More on why this brain parasite could be what causes some people to start their own companies

9. Your best investment might be the one on your wrist. Rolex watches have outperformed gold, real estate, and stocks over the past decade. Here’s why a luxury watch is still a good bet in 2023

10. In case your travel plans hit a snare, here’s how you can get some money back. We break down how much money you’re entitled to if your airline bumps you from an overbooked flight. Don’t settle for a penny less.


Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) in London. 

 





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