The reason why Joseph Huli is few people know is related to the usual low-key style of State Street Group. The low-key style of State Street Group, especially its recent period, is actually related to their development in the past two years, which is indeed somewhat behind.

In recent years, although those guys on Wall Street have dug up subprime mortgages for themselves, which can bury them all, they have actually done some work.

For example, the asset management industry has made great progress in recent years. After acquiring Merrill Lynch’s asset management business, Heiyan, which has become the leader in the industry, has also made great progress in the industry. Only State Street performs very unsatisfactory when the industry is showing booming growth.

Among the four most well-known trusteeship giants in the United States, State Street Group can only stay at the last place at this time, and the gap with the top three has been further widened.

On the other hand, Feng Yiping, in terms of growth rate, existing achievements, and future development potential, is currently in the global business world.

It is also for this reason that State Street has no idea about the projects under Feng Yiping?

However, to them, Feng Yiping's company was like a hedgehog, and he couldn't find a place to go.

Feng Yiping's proactive goodwill this time finally saw hope.

Therefore, after receiving a call from Feng Yiping's office, the State Street management felt a little overjoyed.

Logically, whether it is out of reciprocity or attention to this opportunity, the chairman of State Road should have personally visited the appointment, but now he is the COO, and the reason behind this is hard to describe.

The American financial industry represented by Wall Street has gained its current leading position in the global financial field through fierce competition.

But their fierce competition is not only aimed at the company's opponents, but also fierce and cruel within the company.

The most famous example in the past two years is the battle between Morgan Stanley, a well-known investment bank on Wall Street, in 2005. That battle was called "sweet revenge."

Philip Purcell, CEO of Morgan Stanley once forced Morgan Stanley to leave, and had to switch to Credit Suisse's first Boston, but was forced to be a witness by a coalition of executives composed of eight former Morgan Stanley's executives.

The Executive Alliance fully utilized the kind of campaign in the US political circles, advertised in newspapers and criticized on TV. In the end, it successfully expelled the arrogant Pei Xiliang, and the new CEO was Mai Jinheng, who was forced to leave in 2001.

Behind the scenes of such a perfect story of revenge, the fierce confrontation between the two sides must be beyond everyone's imagination.

And such a thing is currently being staged by State Street Group.

American financial institutions have very strict requirements on the returns of the companies they invest in, and naturally they have stricter requirements on their own companies.

Due to the losses related to subprime mortgages, State Street's profit this year will be a new low in many years. Therefore, the current chairman has successfully accumulated enough resentment from major shareholders.

The State Council is therefore planning a similar eviction.

And all of them knew that Feng Yiping's voluntary release of kindness symbolized an opportunity. Therefore, they refused to give the current chairman such an opportunity, and gave them this opportunity, or in other words, successfully won the favor of Joseph Huli.

This is also why Joseph Hooley is so excited and anxious. This time he was able to come to Palm Beach on behalf of State House, which was an opportunity he had worked hard to win.

Joseph Huli naturally couldn't mention the reason for this to Feng Yiping.

Therefore, how to explain to Feng Yiping has become the main problem he is thinking about throughout the journey.

As for what Feng Yiping might have talked to him, he was not worried, because no matter what, what Feng Yiping wants to talk to them this time must be a good thing.

What Joseph Hooley, who was getting closer to the destination Brex Hotel, didn't know that just as he set out for Palm Beach, Lawrence Fink of Black Rock had already arrived in Boston in a low-key manner, and the person he was going to meet was the current chairman of State Street Group, which seemed to be about to become abandoned children.

Although State Street's development in recent years has not been satisfactory, Fidelity, which is in the same city as State Street, will not be careless.

The peers are enemies, and the peers who sleep soundly beside your bed are enemies who are like thorns in their eyes.

So, one of the initiators of this plan, Edward Johnson of Fidelity, did not bring State Street in too. Why should I share such a good opportunity with him?

However, after the example of John Berger, Pioneer Group two days ago, he and Lawrence Fink of Black Rock almost thought of this asset management giant that they also left behind.

Originally, they were reluctant to take a ride with a peer like State Road, but now, this peer must be the target they are trying to win over.

However, no matter what, Edward Johnson could not take the initiative to show goodwill to State Street, so he had to let Lawrence Fink take action.

When Joseph Huley was about to meet Feng Yiping, in Boston, Lawrence Fink was already shaking hands with the chairman of State Street Group.

…………

On the beach not far from the Brex Hotel, Feng Yiping asked John with some curiosity, "Do I know this person?"

It’s not that he is proud, but he really feels that at least 14 years ago, as long as he wants to do it, even Buffett cannot be compared with him in terms of investment returns, because he is cheating!

He also believed that John would not speak nonsense in this regard, so he was really interested in the guy John mentioned who was as good as himself in terms of return on investment.

John pointed to one of the yachts in the sea and said, "You probably don't know that yacht,"

"That?" Feng Yiping looked at John's hand. It was a yacht about forty or fifty feet long. It was naturally luxurious for ordinary Americans, but for Feng Yiping and Palm Beach, it was really average.

"Should I know each other?" Feng Yiping asked.

"Everyone on the island knows this yacht, and everyone on the island wants to get on that yacht," John said.

Feng Yiping glanced at John, "The owner of the yacht is the one you said that in the investment field, can you get high returns?"

Because for these rich people on Palm Beach, no beauty of any kind is a problem. Then, the only thing that can attract them is naturally the green US dollar.

"Yes, that's his yacht here, but not everyone can board that yacht. Only investors he accepts will have the opportunity to board the boat,"

“But even those members who joined the Palm Beach Country Club may not necessarily become his clients,” he said.

This is Feng Yiping once again heard from the Palm Beach Country Club, "This club is very high in specifications?"

“Yes, the Country Club is the most demanding club in Palm Beach. To be a member, you must have a very good record in charity, in addition to having a very high status and strength.”

"It is also the most confidential club. The membership list is absolutely confidential. If you want to determine whether a person is a member, you will usually only know when the club publishes its member obituary."

"At present, most of its members are Jewish, or in other words, the Jewish rich community, being able to join a country club has become a symbol of identity,"

"And if you can strengthen that gentleman in the club, it will be a symbol of your identity..." John said with a look of yearning.

"Sorry," Feng Yiping interrupted John. He always felt that John was like an advertisement. "Can I ask, what kind of return can this gentleman who makes everyone rush to invest?"

"Only you can get a 1% return on your investment every month, and it is said that there are even higher ones," John said.

"There is no upper limit for the investment amount?" Feng Yiping asked.

"I haven't heard of the upper limit, only the lower limit, and the minimum limit cannot be lower than $10 million,"

Feng Yiping was really surprised. There was no upper limit on the investment amount and he could get at least 10% return in a year. This is really good. He believes that few people dare to make such a promise to investors.

However, every month is rewarded? He felt that this seemed a bit familiar.

“You should know him,” John said, “he is the former chairman of the board of directors of Nasdaq, Madoff,”
Chapter completed!