Why Morgan Stanley wants Eaton Vance — Goldman's COVID testing plans — Newest hot spot in real estate

Happy Friday!

The big news of the day was Morgan Stanley announcing plans to acquire investment manager Eaton Vance for $7 billion. We've got some great analysis on the news, so no point wasting any more time up here!

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James Gorman, the chief executive of Morgan Stanley.Joshua Roberts/Reuters

It's been a big year for Morgan Stanley. 

Less than eight months after announcing plans to acquire discount brokerage E-Trade for $13 billion — and not even a week after closing the deal — the big bank has already pinpointed its next acquisition target: Eaton Vance.

Rebecca Ungarino has some great analysis on what acquiring a storied asset manager like Eaton Vance means for Morgan Stanley.

In short, it's a move that indicates the bank's desire to continue to differentiate its lines of revenue beyond the volatile business of sales and trading.

Click here to read the entire story.

A leaked Goldman Sachs memo reveals the steps Wall Street is taking to bring bankers back to the office

Blake Dodge with a great scoop here on memo Goldman Sachs sent to employees detailing its reopening and testing strategy to get workers back in the office. Check out the entire note here. 

Booming demand for lab space is a rare bright spot for real-estate developers. But a steep learning curve means some 'stupid money' investors could get burned.

Life sciences real estate — essentially space for pharmaceutical and biotech companies — is hotter than ever. Alex Nicoll analyzed the current industry boom, speaking to eight experts about what it means for the larger real-estate market (hint: it's still going to hurt). Click here for the full read.

An inside look at Harbor, a new disaster prep app developed by Headspace and GoodRx alums that helps you get your home ready for hurricanes, wildfires, and other catastrophes

Take a peak inside Harbor, a disaster preparedness app. Alex Nicoll spoke to Harbor CEO Dan Kessler, who gave us a tour of the app. Read the full story here. 

After expensing $5,100 in Dior bags, SoulCycle's CEO was suddenly out. Now, an executive exodus and a culture war threaten to send the company off a cliff. (BI)

At least 60 Coinbase employees are quitting after the CEO declared an 'apolitical culture' at the $8 billion unicorn startup (BI)

A Corporate Sleuth Claims Squarepoint Capital Took Her Content. The Hedge Fund Is Threatening Action. What Actually Happened? (Institutional Investor)

A Columnist Makes Sense of Wall Street Like None Other (See Footnote) (NYT)

Vatican used charity funds to bet on Hertz credit derivatives (FT)

Want to hear from the leaders of digital transformation in finance? Insider Intelligence is hosting two free webinars called “The Bank Insider Panel – Acting on Consumers’ Accelerating Digital Adoption.” Click here to reserve your spot.Learn more about the financial services industry

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