What you need to know on Wall Street today

Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

CEO departures can wipe out billions from a company’s value – here are the Wall Street banks most at risk

Big banks and software companies are among the most exposed to “key man” risk, according to a recent note from Morgan Stanley.

Morgan Stanley looked at the risks of having a hugely important executive such as a CEO or chairman – dubbed a key man – suddenly step down.

The bank found a rise in key-man turnover in recent years. Fifty-nine CEOs in the S&P 500 left their companies in 2017, and new data suggests an 11% increase year-on-year for key-man departures in the first half of 2018. PepsiCo CEO Indra Nooyi is the latest top executive to go, resigning Monday after 12 years in the role.

Goldman is about to move dozens of jobs out of pricey NYC to Utah

Goldman Sachs is planning to move dozens of compliance jobs out of New York City as part of an ongoing plan to move back-office staff to lower cost locales.

The investment bank has been moving staff to Salt Lake City for years and the proposed plans are another stage in that effort, according to people with knowledge of the matter. Affected employees may be told of their fate as soon as September, the people said. As the roles are shifted to Salt Lake City, New York-based employees will be given a chance to move or apply for other jobs in New York, one of the people said.

Banks and asset management firms have been moving employees out of high-cost locations like New York and London for years to curb expenses and this shift has continued into 2018. Earlier this year, asset manager AllianceBernstein said it would send 1,000 jobs to Nashville. Deutsche Bank AG, which has had a hub in Jacksonville, Florida for years, is once again hiring for front-office staff in the southern city.

Elon Musk just said on Twitter that he’s considering taking Tesla private

Tesla CEO Elon Musk said on Tuesday via Twitter that he’s considering taking Tesla private at $420 per share.

“Am considering taking Tesla private at $420. Funding secured,” he said .

Tesla did not immediately confirm if Musk himself sent the tweet or if it was the result of a hack. The company did not immediately respond to a request for comment on the likelihood that it will go private, potential timing for doing so, or the funding sources Musk referred to.

Tesla has been public since it filed an IPO in 2010. The company had a market capitalization of over $60 billion, as of Tuesday afternoon. Its share price reached as high as $371.15 per share after Musk’s tweet. It was trading around $361 in early afternoon trading.

Icahn says the $67 billion Cigna-Express Scripts merger among the worst in corporate history

Carl Icahn doesn’t want the health insurer Cigna’s $67 billion deal with Express Scripts.

Icahn, who recently took a stake in Cigna , wrote in a letter to Cigna shareholders Tuesday that the deal “may well rival the worst acquisitions in corporate history.” Icahn disclosed that he was also short Express Scripts.

Cigna, one of the US largest health insurers, announced the deal in March, offering $48.75 a share in cash for Express Scripts in a move aimed to cut soaring healthcare costs. The $54 billion price tag was a 31% premium to Express Scripts’ stock price at the time and includes about $15 billion worth of Express Scripts’ debt.

In markets news