Finserv Reading - Week ending May 5, 2024

Bijon Mehta Bijon Mehta

Bijon Mehta

Chief Operating Officer I Enterprise Software I Adjunct Professor @ Fordham University

Published May 5, 2024
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Banking

Wanted: Megabank chief willing to work for half pay

GM in talks to move credit-card business from Goldman to Barclays

How to resolve the debanking debate

Banks pay savers more as 'higher-for-longer' rates hit interest income

How American Express keeps millennials and Gen Z in its digital sights

The inside story of Chime: America's biggest digital bank

Singapore DBS' digital services hit after central bank ban ends

All Macquarie Bank branches go cashless in shift to 'digital only'

Lazard leads NY investment banks heralding surge in M&A and debt

Barclays moves to cut 'a few hundred' investment bank underperformers

UBS nears major investment bank restructuring

US regional banks grow deposits but net interest margin pressure persists in Q1

Why hundreds of US banks may be at risk of failure

Open banking and APIs: What IT leaders need to know

There is no next big thing in banking

Deutsche Bank's topsy-turvy history with Postbank

Small banks 'feel like hostages' to their core systems: OCC's Hsu 


Wall Street

How Goldman Sachs grew up: 25 years since Wall Street's elite firm went public

Morgan Stanley banker sees 10-15 more tech IPOs in 2024

Industry experts tackle t+1 settlement challenges in FX

Stock market outlook and valuation for May 2024

Clear Street launches US futures clearing and execution


Economy 

The perils of the Fed's vast bond holdings

America's war machine run's on rare-earth magnets. China owns that market.

The economic slowdown is here. Welcome it.

Gazprom plunges to worst loss in decades as sales to Europe collapse

Houthis extend attacks on shipping to wider Indian Ocean

Mediterranean ports warn of overflowing storage yards in latest threat to supply chain

How BHP's 'meticulous Mike' planned his Anglo American approach

How Europe solved its Russian gas problem

Even if the Fed cuts, the days of ultralow rates are over


Asset Management

Nine key observations of the European asset management industry

Elliott's coolheaded copilot

Berkshire Hathaway's cash pile hits record as Buffett cuts stake in Apple

Berkshire after Buffett: prized energy business faces upheaval

Blackrock's plan for your retirement: A 401(k) with a monthly check

Blackrock to launch Saudi investment firm after $5 billion deal with Riyadh

Jane Street is big. Like really, really big.

Asset managers examine product ranges in cost-cutting bid


Wealth Management  

Retail investors snap up triple-leveraged US equity ETFs

IPO investing is risky. Here's how to find the likeliest winners.

Taxes, tariffs and debt: Investors start to fear the Presidential election

A wealth shift that could leave some younger Americans behind

How tech is propelling RIA growth


Insurance

The crippling home insurance costs hitting America

The future is collaborative: The embedded insurance ecosystem

Prudential to shut down Assurance, the insurance tech startup it acquired for $2.35 billion in 2019

Insurance sector moves digital-first to support shifts in buyer behavior


Real Estate   

The mortgage reform that could unleash the next big US stimulus

Office-loan defaults near historic levels with billions on the line

WeWork agrees restructuring deal that shuts out Adam Neumann's comeback bid

Here's what goes into your mortgage rate

Wall Street has spent billions buying homes. A crackdown is looming.


Payments 

Apple, Google and Venco fight new US plan to monitor payment apps

Chase adds a pay-per-use real-time payments option for SMBs

Nacha rule changes to fight authorized payment scams

Retailers ask judge to reject 'drop in the bucket' settlement over Visa and Mastercard 'swipe' fees

Can open banking increase consumer trust in new payments tech?


Venture Capital / Private Equity

SVB Financial to sell VC business, SVB Capital

Private equity firms step up plans to edge banks out at low-risk lending

The case for addressing private equity prejudice

Saudi Arabia to create $40 billion AI fund

Silicon Valley's General Catalyst closes in on $6 billion fund for tech startups

Clean-tech fund bets on growing demand for batteries


AI / ML

Machine learning's role in the hunt for alpha

Five myths about generative AI that leaders should know about

AI's trust problem

Four startups lead China's race to match OpenAI's ChatGPT

Military is the missing word in AI safety discussions

AI startups have plenty of cash. They often don't yet have a business.

AI startups face a rough financial reality check

In race to build AI, tech plans big plumbing upgrades

The Algorithm by Hilke Schellmann - why AI really is coming for your job

AI-centered businesses make up quarter of Q1 insurtech deals

GenAI is coming to bond trading

Artificial intelligence in the fintech sector

Rethinking card issuing in an age of fintech disruption

Financial services' deliberate approach to AI

Why cyber risk managers need to fight AI with AI

How AI can dictate wealth management strategies for millennials and Gen Z


ESG / Climate Change

Calstrs reveals problems calculating carbon footprint of its $331 billion portfolio

In America's biggest oil field, the ground is swelling and buckling

Copper prices demand green energy transition

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UAE Minister says JPMorgan calls for reality check on energy transition is sensible

Can private equity accelerate the green transition?

Coal power is accelerating despite the energy transition

Big asset managers silent over ESG backlash

Property insurance is in crises - and states are desperate to fix it

Will climate change drown mortgages?

Shell sold millions of 'phantom' carbon credits

Climate change is affecting hoe Canadians plan to buy homes, report says

Risk management as a competitive advantage

Climate risks to nine key commodities

A billion people are vulnerable to climate change and economic shocks. Can fintech solve for both?

World's largest wealth fund says it may benefit from ESG backlash


Bigtech 

Quantum computing breakthroughs draw investment back to sector

Amazon sales surge as company focuses on AI

Elon Musk fires Tesla's entire supercharger team

Amazon cloud sales growth accelerates as group prepares for more AI spending

Apple targets Google staff to build artificial intelligence team

How big data centers are slowing the shift to clean energy

The Everything War - taking on Amazon's march to monopoly

A comprehensive list of 2024 tech layoffs


Fintech  

Q1 sees almost 500 fintech deals

Monzo set to raise further GBP 500 million

Fintech's fight against oversight in the age of frictionless finance

IA launches blueprint for fintech engagement and onboarding

As fintech develops, strategic partnerships face more granular competition


Blockchain / Crypto 

Crypto is anything but strong right now

Coinbase posts soaring profit on jump in crypto prices

Stripe is bringing back crypto payments, citing real utility

Asia's first spot bitcoin and ether ETFs mae lukewarm Hong Kong debut

Winners and losers in the spot bitcoin ETF race

Oklahoma's Blockchain Basics Act sets the standard

Securitize's $47 million funding boost led by Blackrock signals a leap forward in asset tokenization

Democratizing investment - the power of asset tokenization in real-world assets


Regulation / Compliance  

How the EU AI Act will impact your business

BoE warns payment firms to be ready for new operational resilience rules

MAS lifts six month IT ban on DBS

CFTC names first Chief Artificial Intelligence Officer

Chinese regulators warn against Silicon Valley Bank-style meltdown


Corporate Venture / Innovation                                       

Former Levi's CEO on revitalizing a brand

How much does proximity influence startup innovation?

Will your nudge have a lasting impact?

What happened to innovation?


Personal Development / Leadership 

This is the accomplishment that matters most

Deiom Sanders' prime lessons for leading a team to victory

Less is more: The case for 'slow productivity' at work

A winner does...

8 simple rules to live by from the world's greatest deep sea diver

How to think about obstacles

How to be motivated every day

Stop thinking and start doing

This (simple) method removes all noise and distractions


Podcasts / Videos  

In Good Company: with Ken Griffin, CEO of Citadel

Norges Bank: Marc Andreessen, founder of a16z

The view from BCG: Leadership in uncertain times

When JPMorgan CEO Jamie Dimon speaks, the world listens

Jerry Seinfeld's 3 keys to a successful life

Dua Lipa - At your service: Apple CEO Tim Cook on what it takes to run the world's largest company

Lex Fridman: Chamath Palihapitiya on Money, Success, Startups, Energy, Poker & Happiness

TKP: Dr. Jim Loehr - Change the stories you tell yourself

How bad leaders get worse over time


Speeches / Communications

Denis BeauFirst Deputy Gov. of Bank of France: "CBDC and crypto"

Fabio Panetta, Gov. of Bank of Italy: "The future of Europe's economy amid geopolitical risks and global fragmentation"


Research Reports  

The Shape of Money Laundering: Subgraph Representation Learning on Blockchain

OW: Compliance playbook to accelerate bank ESG risk management

The Carbon Cycle and Climate Change

KPMG: The Human Side of Energy Transition

WEF: Energy Transition and Geopolitics 2024

2024 Global eCommerce Report

OW: Transformative Moments in a Time of Permacrisis

BCG: Creating Value Through Operational Excellence

Accenture: How GenAI will unlock big value in the Big Apple

Deloitte: GenAI- A (work)force multiplier for exceptional service 

HMT: Anti-money laundering and counter-terrorist financing

FTPartners: Global Fintech May 2024

GS: Generational Growth

BCG: Fixed Income Market Evolution

Bain: Accelerating corporate climate finance through carbon markets

ISDA: GenAI in the derivatives market

Deloitte: Getting real about GenAI

KPMG: AI Regulations - Present and Future

The 2024 Global Report on GenAI

NIST: AI Risk Management Framework

BCG: The State of GenAI in Global Financial Institutions

The Pressure is On: How  Geopolitical Tensions Impact Institutional Fiscal and External Stability Responses

Geopolitical Risk 2024

BCG: The benefits of data sharing now outweigh the risks

Visa: The Embedded Lending Opportunity

Franklin Templeton: Disruptive Technology Views

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