Archive for the ‘Financial Services’ Category

Jed McCaleb: pioneer of cryptocurrency

Wednesday, April 11th, 2018

Jed McCaleb is the founder of Stellar.org, a development foundation. He started the organization in partnership with Joyce Kim. The foundation was established in 2014. McCaleb’s significant role in the organization is overseeing technical developments as the chief technology officer.

McCaleb has been a developer of cryptocurrency for an extended period. He foresees the technological changes in worldwide financial exchange. At Stellar McCaleb together with his department are focused on coming up with a cryptocurrency system for making international financial transfers. In an interview, Mr. McCaleb stated that with time cryptocurrency would like to be embraced and used by many across the world.

He states that it is also likely to be a universal payment system. The system would have a record system which would be available to the public. Additionally, the system will not be able to be randomly changed by anyone. This system will as well allow people to change the universal “currency” into their currencies.

Mr. McCaleb also said that the use of initial coin offering is an indication of markets which are not yet in the financial system. Initial coin offering involves the sales of tokens. In four years this exchange has brought in almost $9 billion.

The token exchange works in such a manner that to make contributions to a project, the investors buy digital coins. McCaleb is confident that the same system can be employed for the stock exchange.

McCaleb goes on to predict that probably in the coming ten years every financial transaction including trade will be done using digital coins. He states that for this to be possible, there must be the use of a decentralized system as using one central management for every form of exchange would be hard to manage.

Several companies are coming up with their digital coins. For instance, Currency is trying to enable the stock exchange to be done using bitcoins. Stellar has also come up with their own, known as lumens; it is one of the most extensive cryptocurrency networks.

Michael J Burwell Brings His Experience To Willis Towers Watson

Wednesday, March 28th, 2018

Willis Towers Watson, a renowned global brokerage, solutions and advising company which has announced Mike J Burwell will be the CFO. Mike will be succeeding Roger Millay who is going to voluntarily retire in October.

 

A former employee and high-level manager at PwC, Michael brings well over three decades of background in the finance and professional service industry. Mike served in several leadership and executive roles at PwC for 11 years. Michael was the Manager of U.S. Transformation for PwC and served as CFO and COO of the U.S. division and was the manager of the Transaction Services division. Also, Mike brings over a decade of auditing knowledge and over 12 years of knowledge in Transactional Services advisory. Mike helped firms with their pre-merger evaluation and the due diligence process.

 

Commenting on this recent news, Mr. John Haley, the CEO of the company declared, “We are very thrilled to have Michael to join the leadership of our company at this important stage of development. Michael has a good understanding of leadership and driving sustainable results in a sophisticated, global firm with a enormous concentration towards satisfaction of clients. I’m assured that Michael’s vast knowledge of transaction, transformations and financial services will be a key factor in the growth efforts and integration efforts of the company, allowing us to attain our very best potential.”

 

“I have to thank Roger Millay’s strong leadership skills and contribution to Willis Towers Watson. He is leaving the company much stronger thanks to his wisdom and has truly placed us in the path of success for our foreseeable future.’’

 

Refer to This Article for related information.

 

‘’I am truly honored for having the opportunity to join Willis Towers Watsons team,” stated Michael. “In every encounter with the company, I am delighted with the firm dedication to clients, comprehensive and collaborative vision and direction. I honestly cannot wait to help the company succeed.”

 

Before he worked at Willis Towers Watson, Mike spent 30 years at PwC. Mike strategically drove innovation in his Transformation role, optimizing organizational strength while overseeing a wide variety of internal positions including the Finance and Human capital, Global Sources division, and the Technological branch. Mike also served as the relationship management executive of various clientele while working at Price Waterhouse Coopers. Michael Burwell is a chartered CPA who earned a Bachelors degree for Administration in Business at Michigan State.

 

See Also: https://www.reinsurancene.ws/willis-towers-watson-hires-cfo-replacement-burwell-pwc/

Ricardo Guimaraes’ Strategy to Making BMG Successful

Sunday, January 7th, 2018

Among the Brazilian entrepreneurs, Ricardo Annes Guimaraes is recognized for investing more in sports. He has received the diploma of Honor to merit from the City Hall for his help and support for sports in Brazil. Ricardo has also been awarded the Great Collar of Legislative Merit. His contributions towards development of sports in Brazil are invaluable seeing that he was able to stand in the financial gap of the Atletico Mineiro Club.

Ricardo has contributed to the construction of one of the best equipped Training Centers in Brazil. Apart from football, he also supports other games as his way of giving back to the community. He has also invested in several hospitals to promote the health sector and create a healthy population in Brazil.

In his speech at the event when he was receiving the Honor, Ricardo was happy to recognize his grandfather who he started the tradition of investing in sports and he was continuing with the tradition. As the president of the BMG bank, Ricardo confesses that as a family bank, it highly invests in sports (https://www.cmbh.mg.gov.br/comunicacao/noticias/2016/11/).

Ricardo Guimaraes has been fortunate in that he came from one of the richest families in Minas Gerais. He has been the president of Atletico MG and during his tenure, he was passionate about the world of sports and after taking the leadership of the BMG bank, he was able to maneuver with ease in the market (http://maquinadoesporte.uol.com.br/bio/ricardo-guimaraes.html).

By creating ease of access to funds by the football clubs, Ricardo has made BMG bank to have higher returns and he continues to increase investing in sports. After taking the leadership of the bank, he has been able to lead in sponsorships of football through the bank, taking most of the Serie A clubs. The bank maintains the privacy of the clubs that it invests in and does not share their information to any third party for any purpose (http://esporte.ig.com.br/futebol/bmg+se+torna+investidor+mais+influente+nos+clubes+brasileiros/n1237962700977.html)

As a businessman, Ricardo is always keen on opportunities he gets. He always weighs the opportunities and picks one that will give the best results. He also take chances and invests in areas that analysts have raised concerns about but shows a promising return (http://esporte.ig.com.br/futebol/bmg+se+torna+investidor+mais+influente+nos+clubes+brasileiros/n1237962700977.html).

According to Ricardo, the talents of athletes and footballers should be given support so that they can be trained to professionals who are committed to their goals and driven by discipline. This creates more creativity in him to make sure that sports become successful and in the process, his company gains recognition and promotes the livelihood of its employees (http://pt.wikipedia.org/wiki/Usu%C3%A1rio(a):Ricardo_Guimar%C3Aes_BMG).

Follow Ricardo:youtube.

An Example of Successful Capitalization through Senior Notes

Monday, March 6th, 2017

Nexbank Capital Inc. is a privately owned financial services provider involved in banking and financial services. Recently, NexBank Capital raised additional capital through unsecured senior notes, realizing a total of $155 million. The private placement was hugely successful and the notes oversubscribed. The notes are stable attracting a BBB investment rating from the Kroll Bond Rating Agency. The elements of the offering include a five-year 5.5% fixed rate interest and subsequently a floating rate.

Speaking at the announcement, the CEO and President of NexBank Capital, John Holt, reiterated that the recognition of the senior notes from the rating agency is a testament to their strong position in the market. The oversubscribed state of the placement demonstrates investor confidence in NexBank to succeed and deliver long-term benefits. Sandler O’Neill & Partners advised the offering, and the unsecured notes would require registration before being used for trading.

NexBank’s business success was validated by the extensive institutional support the placement enjoyed. The capital is intended to go towards clearing cumulated obligations, operational business growth, and strategic future capital investments. NexBank Capital achieved a 71% year-on-year growth rate in 2016 in total assets and over $83 million in net income the same year.

NexBank Capital is a subsidiary of NexBank SSB, a financial and banking services provider founded in 1922 and based in Dallas, TX. NexBank Capital has operations in commercial banking, investment and mortgage banking, and institutional financial services. Its major clients include financial institutions, corporate and institution-based customers, real estate investors, brokerages and small and medium enterprises. NexBank SSB was previously known as Heritage Bank with the name change taking place in 2005.

NexBank Capital has realized tremendous growth with John Holt as CEO and President. It has expanded its operations with over $4 billion in assets to date to become one of the largest banks in Dallas, TX. In 2014, Bank Director recognized NexBank Capital’s rapid growth in core deposits ranking at number one in the second quarter of the same year. In addition, The Independent Banker ranked NexBank SSB at number five on its list of the community banks with more than $1 billion in assets.