The third season of Industry picks up several months after the explosive finale of the second season. Harper Stern, now a successful freelance trader, is operating from a rented desk at a smaller firm, having been cut loose from Pierpoint & Co. Her star has risen due to her risky but profitable bets, but she operates without the safety net of a major bank, making her financial position precarious. Meanwhile, Yasmin Karaman, having inherited her father’s wealth, attempts to reinvent herself as an ethical venture capitalist, though she struggles to escape the shadow of her family’s legacy and her own sense of emptiness.
At Pierpoint, the old guard is under threat. Eric Tao and Jesse Bloom have joined forces at a new hedge fund, leaving a power vacuum. In their place, a new, more corporate leadership arrives in the form of Petra Koenig, a shrewd and politically astute managing director. Her mandate is to modernize the bank, emphasizing teamwork and decorum over the cutthroat, lone-wolf culture that defined the previous era. Robert Spearing finds himself surprisingly aligned with this new vision, thriving in a role that leverages his interpersonal skills as he climbs the managerial ladder.
The season’s central conflict revolves around a hostile takeover attempt of Pierpoint by a rival investment bank, led by the enigmatic and ambitious CEO Henry Muck. This corporate raid forces everyone to choose sides. Harper sees an opportunity to leverage her knowledge and connections to secure a permanent seat at the table, potentially by aiding Muck. Her former colleague and longtime rival, Yasmin, is pulled back into the finance world as her family’s holdings become entangled in the deal.
Personal and professional lines blur further. Harper rekindles a complex, volatile relationship with Eric, their dynamic now shifted as she is no longer his subordinate. Yasmin grapples with her sexuality and engages in a risky affair with Petra, her new boss, a relationship fraught with power imbalances. Robert’s ascent is tested by his loyalty to his friends and his own moral compass as he becomes a key player in the internal war for Pierpoint’s future.
The season builds to a dramatic shareholder vote that will decide the fate of the bank. All characters are forced to make final, defining choices about their allegiances and what they are willing to sacrifice for success. In the end, the outcome reshuffles the deck once more, leaving characters in unexpected new positions of power, isolation, or exile. The finale underscores the show’s enduring theme: in the high-stakes world of finance, reinvention is constant, trust is a liability, and the only true currency is the deal itself.