Welcome back to another issue of Career Guides Weekly.

We’re like the spice rack of finance news - we’ve got all the flavours you need.

Today’s Riddle: I'm the person responsible for making buy and sell decisions for a portfolio of financial assets. Who am I? (Scroll all the way down for the answer).

Ever wondered what a career investing money for the rich looks like? Find out everything you need to know in our latest career guide ’Introduction to Private Wealth Management’.

Alright, small talk done, let’s dive in!

TODAY’S MENU

• Investment Banking: Exxon in Advanced Talks for $60Bn Acquisition of Pioneer, Metro Bank Secures $400Mn Capital Raise, Barclays Begins Culling 3% of It’s Dealmakers, And More

• Asset Management: European AMs Reject Plans for Tighter Liquidity Rules, US Bond Funds Suffer Outflows; MM Funds Gain Traction, Citygroup to Sell China Consumer Wealth Business to HSBC, And More

• Sales & Trading: Oil Up But Restrained on Middle East Jolt, ECB's De Guindos Sees Inflation Slowing Down, FTSE 100 Rises as Energy and Defence Stocks Jump, And More

• Private Equity: The New Kings of Wall Street Aren’t Banks, Swedish PE Firm EQT to Acquire VetPartners for $1bn+, And More

• Hedge Funds: HFs Sell Energy Stocks Before Middle East Conflict, Volatility is Back - Here’s What HFs Are Doing, And More

• Venture Capital: Global VC Deals Decline in Q3, For Second Quarter in a Row, The Week’s 10 Biggest Funding Rounds, Rishi Sunak’s Wife to Wind Down VC Fund, And More

INVESTMENT BANKING (GET THE 100-PAGE GUIDE HERE)

Barclays initiated layoffs this week targeting 3% of its global investment banking workforce, people familiar with the matter said, as it attempts to streamline its franchise after a tumultuous year.

Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60 billion.

• J.P.Morgan Investment Banking Outlooks and Insights (JPM)

• Exxon in Advanced Talks for $60Bn Acquisition of Pioneer (RT)

• Metro Bank Secures $400Mn Capital Raise (RT)

• How Corporate and Investment Banks are Tackling Gen AI (MCK)

• Jefferies' CEO Accepts Risks to Recent Big MD Hiring (EFC)

• Barclays Begins Culling 3% of It’s Dealmakers (RT)

ASSET MANAGEMENT (GET THE 71-PAGE GUIDE HERE)

Proposals to force open-ended investment funds to hold more liquid assets to cope with a surge in redemptions are "fundamentally flawed" and would bump up costs for investors.

Citigroup has agreed to sell its China consumer wealth portfolio, including clients, assets under management and deposits, to Asia-focused HSBC Holdings. The deal covers total deposits and investment AUMs of about $3.6 billion, and is expected to close in the first half of 2024.

• European AMs Reject Plans for Tighter Liquidity Rules (RT)

• Citygroup to Sell China Consumer Wealth Business to HSBC (RT)

• Japan’s PM Seeks to Shake Up $5Tn AM Industry (RT)

• US Bond Funds Suffer Outflows; MM Funds Gain Traction (RT)

• Wall Street is Racing to Manage Your Wealth (ECO)

• Indian AM Tata Sees Value in Large-Cap Stocks (RT)

SALES & TRADING (GET THE 107-PAGE GUIDE HERE)

The weekend's Middle East shock adds another confusing twist to an already complicated global markets picture, but the initial jump in oil prices has been relatively modest so far as investors assess the geopolitical implications.

Both headline and core inflation are expected to continue their downward trend in the coming months, the European Central Bank's Vice-President Luis de Guindos said, but he urged for caution due to the uncertainty surrounding the evolution of oil prices.

• Oil Up But Restrained on Middle East Jolt (RT)

• ECB's De Guindos Sees Inflation Slowing Down (RT)

• European Airlines Stocks Fall Amid Middle East Conflict (RT)

• FTSE 100 Rises as Energy and Defence Stocks Jump (RT)

• German Industrial Output Falls, Spurring Recession Fears (RT)

PRIVATE EQUITY (GET THE 127-PAGE GUIDE HERE)

• The New Kings of Wall Street Aren’t Banks (WSJ)

• Swedish PE Firm EQT to Acquire VetPartners for $1bn+ (FR)

• U.S. Investors are Seeking an Edge Investing in Football (CNBC)

HEDGE FUNDS (GET THE 116-PAGE GUIDE HERE)

• HFs Sell Energy Stocks Before Middle East Conflict (RT)

• Trend HFs Come Out Winners in Bond Market Rout (RT)

• Volatility is Back - Here’s What HFs Are Doing (CNBC)

VENTURE CAPITAL (COMING SOON. GET NOTIFIED)

• Global VC Deals Decline in Q3, For Second Quarter in a Row (VB)

• The Week’s 10 Biggest Funding Rounds (CB)

• Rishi Sunak’s Wife to Wind Down VC Fund (TG)

WEEKLY RECOMMENDATION

The Little Book of Common Sense Investing (Book)

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