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Jens Welter to Exit Credit Suisse for Citi
Credit Suisse Co-head of Global Investment Banking Jens Welter will be moving to Citigroup Inc., where he will be the new co-head of the European investment banking division and chair of the bank’s consumer, retail, and healthcare advisory business, Financial Times reported. The exit comes 11 months after Welter, a 27-year Credit Suisse veteran, began his most recent role...
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Google Buys Digital Forensics Firm Mandiant for $5.4 Billion
Google will acquire the publicly-traded cybersecurity firm Mandiant for $5.4 billion, the tech giant said. “We will retain the Mandiant brand and continue Mandiant’s mission to make every organization secure from cyber threats and confident in their readiness,” Google Cloud Chief Executive Officer Thomas Kurian wrote in a blog post...
Stonepeak to Acquire Intrado’s Public Safety Telecom Business
Alternative investment firm Stonepeak has entered into a definitive agreement with Intrado Corporation to buy its 40-year-old public emergency telecommunications services for $2.4 billion. Intrado’s Safety business has been the foundation for the U.S.’s 911 infrastructure, which connects callers with first responders and public safety dispatchers...
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Brookings Says Global Cooperation Is Critical for Combatting Multitude of Threats
Though many would say the idea is obvious, global cooperation is critical as the world tries to manage multiple and diverse threats to people, the environment, and the economy. The Brookings Institution, the century-old American think tank, says cooperation should be a top priority for preserving the world economy amidst an onslaught of shocks...
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India is “Best Bet,” Conglomerate Executive Says
If you listen to the chairman of an Indian conglomerate, India is the global economy’s safest place on Earth. “We see a recession coming in U.S., recession coming in U.K., in Europe, problems in China, [a] problem in Southeast Asia under the fear of China-Taiwan.
Goldman Sachs Takes Transaction Banking to the EU
The Goldman Sachs Group, Inc. will expand Transaction Banking (TxB), its cloud-based global transaction platform, to the European Union, the company said in a statement. Begun in the U.S. in 2020 and launched in the U.K. in 2021, the digital-first cloud-based TxB will establish a new location in Frankfurt, followed later by Amsterdam...
Judge Permits United Health to Merge with Change Healthcare, Frustrating DOJ
In a blow to the Biden administration’s efforts to protect competition in the healthcare industry, a Trump-appointed federal judge has allowed UnitedHealth Group to acquire Change Healthcare. The Department of Justice (DOJ) had attempted to intervene in the transaction...
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Corebridge Financial Is Year’s Biggest IPO, Highlighting Sullen Market
As the U.S. initial public offering (IPO) market endures a lackluster year, AIG spinoff Corebridge Financial looks to be its most significant prospect yet. The insurance company is seeking to raise $1.8 billion. The amount would constitute a quarter of 2022’s proceeds, Bill Smith, Co-Founder and Chief Executive Officer of Renaissance Capital...
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Illiquid Asset Tokenization on the Rise
The amount of money tied up in illiquid assets is climbing, and it could total $16.1 trillion by 2030, according to Boston Consulting Group (BCG). “A large chunk of the world’s wealth is locked in illiquid assets,” BCG Managing Director Sumit Kumar and digital exchange ADDX Co-founder Darius Liu wrote in a September report...
Pandemic Aid: A Necessary Evil, Perhaps
COVID-19 spending, which was essential for averting a global recession, has left new economic risks, according to research organizations including the International Monetary Fund and the Brookings Institution. While providing critical relief for Americans at the pandemic’s outset...
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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...