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Freddie Mac Appoints James Whitlinger as Chief Financial Officer
Freddie Mac, a force in the housing finance sector, has announced the appointment of James Whitlinger as its new Executive Vice President and Chief Financial Officer. Whitlinger, who has served as the company’s Senior Vice President and Single-Family CFO since 2014, took over as interim CFO in June 2024 following the departure of Christian Lown...
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AI Projected to Boost Revenues 12% by 2028
PwC's 2024 Asset & Wealth Management Report highlights the significant role disruptive technologies, particularly AI, are playing in transforming the asset and wealth management sector. With 80% of firms predicting significant revenue growth driven by these innovations, CFOs should consider how adopting ‘tech-as-a-service’ models could contribute to potential a 12% increase in revenues by 2028...
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Ashima Ghei Appointed CFO of Broadridge Financial Solutions
Broadridge Financial Solutions, a technology solutions provider for the financial services industry has appointed Ashima Ghei as its Chief Financial Officer. Ghei, who had served as Interim CFO since July 2024, has been pivotal in shaping the company’s financial strategy and execution during the first half of FY25...
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Michael Holt Appointed CFO of Morningstar
Morningstar, a provider of independent investment insights, has appointed Michael Holt as its new Chief Financial Officer, effective January 1, 2025. Holt’s appointment follows the announcement that Jason Dubinsky, the current CFO, will step down at the end of the year and transition into a consulting role...
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BIS Warns of Fiscal Risks Amid Rising Sovereign Debt
The Bank for International Settlements (BIS) has raised alarms over the destabilizing potential of surging government debt levels, emphasizing the urgency for policymakers to act preemptively. In its latest quarterly report, the BIS highlighted that global sovereign debt could increase by a third to $130 trillion by 2028, driven by persistently large budget deficits...
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Monzo Appoints Tom Oldham Group CFO and Mark Newbery UK CFO
Digital banking leader Monzo has announced the appointments of Tom Oldham as Group Chief Financial Officer (CFO) and Mark Newbery as UK CFO, further bolstering its executive team during a pivotal year of growth. Oldham will spearhead Monzo’s global financial strategy, operations, and investor relations, while Newbery will focus on UK-specific financial management, including balance sheet oversight...
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Leading Tax Technology Transformation
As the demand for entry-level finance and accounting talent remains high, technology is increasingly seen as a solution to labor gaps and budget constraints. According to the 2024 Global Tax Transformation report by Vertex, tax functions are at the forefront of digital transformations within finance. Seventy-seven percent of the 600 respondents indicated that their tax teams lead in adopting new technologies...
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MassMutual Announces Leadership Transition with New CFO Appointment
Mutual life insurance company Massachusetts Mutual Life Insurance Company (MassMutual), founded in 1851, has planned significant leadership changes that will begin in 2025. Betsy Ward, Chief Financial Officer (CFO) for the past three decades, will retire at the end of this year. Ward has been instrumental in driving transformative growth, strengthening the company’s financial position, and delivering value to policyowners...
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Corporate Bond Issuance Surges Amid Strong Economic Growth
Corporate bond issuance in the United States has exceeded $1.4 trillion in 2024, marking a near-record year, with projections suggesting even higher volumes in 2025. Four monthly issuance records were broken, driven by companies leveraging favorable market conditions to secure financing. Investment-grade bond spreads relative to Treasury yields have dropped to their lowest levels in nearly two decades, reaching just 79 basis points in October...
FASB Mandates Enhanced Expense Disclosures for Public Companies
The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update requiring public companies to provide more detailed expense disclosures in their financial statements. Published on November 4, the update addresses long-standing investor demands for greater transparency into companies’ cost structures...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...