Day: September 17, 2020

After Jane Fraser at Citigroup, Who’s Next to Break Banking’s Glass Ceiling?

Want this delivered to your inbox each day? Sign up here.

Citigroup made history by appointing Jane Fraser as its next chief executive, making her the first woman to lead a major Wall Street bank when she takes over early next year. That makes us wonder: Who’s next? Here are some of the top contenders to break the glass ceiling in banking:

Executives who might take over their current companies:

Marianne Lake: A two-decade veteran of JPMorgan Chase, she now heads the firm’s enormous consumer-lending business. She was previously C.F.O., and after an executive shake-up last year has been considered a top contender to succeed Jamie Dimon.

Jennifer Piepszak: She succeeded Ms. Lake as JPMorgan’s C.F.O. last year as part of the executive reshuffle. Previously, the 25-year veteran of the firm ran Chase’s credit-card business. Like Ms. Lake, she is seen as a leading

Read More

UK court to hear compensation case of London Capital & Finance bondholders

LONDON, Sept 8 (Reuters)A British court has given the green light for a compensation case brought by bondholders suffering losses from the collapse of London Capital & Finance (LCF) to be heard, lawyers said on Tuesday.

The bondholders are seeking a judicial review of how their claims for compensation have been largely rejected.

LCF went into administration in early 2019 with losses of up to 237 million pounds ($311.6 million) after the Financial Conduct Authority (FCA) directed the firm to withdraw promotional material for so-called mini bonds.

The Administrative Court has given permission for the case to be heard, said Thomas Donegan, a partner at law firm Shearman & Sterling, who is acting on bondholders’ behalf.

“We feel confident in our arguments and look forward to presenting them to the Court,” Donegan said.

Britain’s Financial Services Compensation Scheme (FSCS) said in January it could only help 159 of

Read More

Insurance Services Market Procurement Intelligence Report with COVID-19 Impact Analysis


Morgan Stanley Bets on These 3 Stocks; Sees Over 40% Upside

Did the stock market’s epic rally just need a little breather? The last few weeks have seen stocks experience their first meaningful correction since the bull market kicked off in March. Now, the question swirling around the Street is, will the rally pick back up again, or is more downside on the way?According to Morgan Stanley’s chief U.S. equity strategist Mike Wilson, uncertainty regarding the presidential election and stalemate on the next stimulus package could lead to declines in September and October. “On the correction, there’s still downside as markets digest the risk of congressional gridlock on the next fiscal deal. While we think something will ultimately get done, it will likely take another few weeks to get it over the goal line,” he noted.However, Wilson argues the recent volatility in no way signals the end of the

Read More

This Ex-Israeli Commando Is Betting $16 Million Of His Own Money That People Will Use His App Rather Than Calling The Cops

Once second-in-command of Israel’s version of Delta Force, Doron Kempel built and sold two tech companies for a combined $850 million. Now he sees financial opportunity in public safety.

Hazel Carrasquillo was riding the bus home from work late one night in March when a distressed seeming man began shouting at her. When she got off her stop, in a Chicago suburb, the man also got off, making her feel unsafe.

Rather than call the police, she used an app on her phone to video-call a private security service that stayed on the line with her until she got home. If something did happen, the video was being recorded, and the agent could call the police to her location. 

At a time when people are on high alert, yet possibly hesitant to call the police, a new app called Our Bond is aiming to provide a sense of security

Read More