Financial meme king Litquidity is taking on recruitment
Litquidity is partnering with executive-search firm Whitney Partners to launch Litney Partners.
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The backstory: Litquidity, a finance meme account launched on Instagram in March 2017 by an anonymous ex-investment banker and private equity employee who goes by the name "Lit," is known for giving an inside look into Wall Street. The account quickly blew up and now has over a million followers across Instagram and Twitter. It wasn't too long before Lit went from shitposting to expanding into a full-blown digital media company.
The development: Now, Litquidity is partnering with executive-search firm Whitney Partners to launch Litney Partners, a new venture on a mission to connect young, ambitious talent with top private equity firms, hedge funds, venture capital firms and other finance jobs. The recruitment firm will be led by Whitney managing director and "The Bachelorette" star Bennet Jordan, who was on the show in 2020. Lit said that most of the company's millennial and Gen Z followers spend huge amounts of time networking on social media – but not on LinkedIn. Instead, they use hip platforms like Instagram and Twitter.
Litquidity has a large following in New York and London, so Litney Partners will focus on roles in the US at first and may expand to the UK in the future. To take advantage of Litquidity's massive social media following, it will share job opportunities with its over 200,000 newsletter subscribers, giving Litney Partners a pretty undeniable edge over traditional headhunters.
Key comments:
"Litquidity's following is so powerful with the younger generation, and we think there's a massive opportunity to leverage it for recruitment and to disrupt how top junior talent is connected with financial institutions," said Bennett Jordan in an interview. "Given the revolving door of juniors moving in and out of firms will continue throughout the recession, it is natural for us to bring recruiting to the digital media spaces that are most efficient and en vogue among Gen Z and millennials."
"Junior recruitment remains a huge challenge for firms," said Jordan, referring to the venture's focus on recruiting junior investment professionals. "Juniors are not as loyal as they used to be – they can easily move laterally for a compensation bump, so there is an ongoing void."
"Lit is part of this next generation of media entrepreneurs, like Packy McCormick, who has the popular Not Boring newsletter, that are leveraging their online platforms for investing," said Christina Melas-Kyriazi, a Bain Capital Venture partner, referring to the Litquidity's founder. "They have unique insights, and they can leverage their online presence in interesting ways."
"Comedy's always been my form of expression," said Litquidity founder, Lit, about his inspiration for the Litquidity IG account. "I saw parallels between the boot camp of interning on Wall Street and pledging a fraternity."
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