Finserv Reading - Week ending November 12, 2023

Bijon Mehta Bijon Mehta

Bijon Mehta

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

Published Nov 13, 2023
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Banking

Small steps toward digital transformation aren't enough

The perils of Citi's prolonged restructuring

Top four US banks grab a growing share of industry's profits

Big banks cook up new way to unload risk

Citigroup considers deep cuts

N26 to cease operations in Brazil

Banks look to fintechs to stave off threat from big tech

Why bank branding relies on a human touch

How a banking capital of the world botched its own banking rules

8 of the biggest issues facing the banking industry today

America embraces open banking

How banks can parlay technology into a competitive edge

Iowa community bank becomes 5th to fail this year

Taylor Swift may hand out bigger bonuses than many banks this year


Wall Street

MTS goes live for electronic trading of EU issued debt

ICE reports record open interest in commodity and energy markets

ICE completes rebuild of NYSE technology stack

Market data prices rise well above inflation


Economy 

Israel-Hamas war won't tear the world economy apart

Consulting firms freeze US starting salaries in bid to shore up profit

Global banking chiefs warn of geopolitical uncertainty and regulatory concerns 

Why Moody's cut its outlook for the US economy

BoA CEO Moynihan says US economy headed for soft landing


Asset Management

Ray Dalio ran Bridgewater like the global strongman he admired

Veteran investor Mark Mobius to step back from eponymous asset manager

Warring billionaires, a rogue employee, a divorce: One hedge fund's tale of woe

Ever had a horrible boss? 'The Fund' is the perfect rage-read.

Inside James Comey's bizarre $7 million job at Bridgewater

Inside Hunterbrook's plans for a 'news hedge fund'

Why the world's largest asset manager wants to work with European fintechs


Wealth Management  

Robinhood no longer looks like a steal

Charles Schwab's rocky year in five charts

How technology can help clients 'befriend their future selves'

RIAs sqeezed as volatility, inflation dampen asset growth

Your 401(k) is underperforming. Here's what you should do.


Insurance

Insurers double down on fossil fuel projects

Digital tools are transforming the insurance industry

Bridging the insurance industry's digital generation gap

The future is arriving fast in the insurance industry


Real Estate   

Overdue commercial property loans hit 10-year high at US banks

WeWork files for bankruptcy amid glut of empty offices

Turning empty offices into apartments is getting even harder

How the real estate broker business could change


Payments 

Buy now, pay later lender is surfing the private credit wave

Goldman moves to offload GM credit card 

Jack Dorsey's Block announces 1,000 layoffs

Klarna posts profit for first in 4 years

Cost concerns impacting the adoption of real-time payment


Venture Capital / Private Equity

Private equity faces a reckoning

Softbank posts $6.2 billion loss after WeWork bankruptcy

Private equity fortunes diverge as KKR prospers while Carlyle cuts jobs

Your next Airbnb host could be a private equity firm

Rough times ahead for VC funding in fintech


AI / ML

Tech start-ups try to sell a cautious Pentagon on AI

How leading consultancies can better manage AI risk

Microsoft's Chris Young on bringing AI to main street

OpenAI set to launch store as ChatGPT reaches 100mm users

Has generative AI peaked?

Visa launches AI advisory practice


ESG / Climate Change

Progress towards net zero is slow but steady

Blackrock to invest $550 million in Oxy project capturing carbon from air

Where are commodity prices headed?

The path to green energy is getting messier

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COP28 faces a giant communication challenge

Earth's hottest 12-month streak

Is CalPERS still a responsible fiduciary?

What AI means for ESG

Time to get realistic about net zero

Climate fintech: Building a thesis

Climate change and finance: The transition from TCFD to ISSB standards

From fintech to green finance


Bigtech 

Silicon Valley may never learn its lesson

Uber reports second-ever quarterly operating profit amid strong demand

How big tech companies really think about AI

Big tech ditched trust and safety. Now startups are selling it back as a service.

Big tech Q3 earnings showcase intense competition in cloud computing


Fintech  

Fintechs look to cost cuts and layoffs

9 lessons that banks have learned from fintechs

It's been a long time since we've seen such positive signals in fintech

Seven fintech predictions for 2024


Blockchain / Crypto 

Former NYSE President in talks to reboot FTX exchange

Michael Lewis is still defending Sam Bankman-Fried

SBF exposed the fragility of crypto

Crypto exchange Poloniex losses $125 million in hack

The crypto ATM business is somehow still booming

Elon Musk: None of my companies will issue 'crypto tokens'

Why institutional allocation to crypto is on the rise


Regulation / Compliance  

SEC faces fierce pushback on plan to police AI investment advice

Fed probes Morgan Stanley's international wealth management practices

CFPB wants to extend oversight to Big Tech

Blackrock argues SEC has no grounds to treat crypto futures and spot ETFs differently


Corporate Venture / Innovation                                       

How AI is affecting innovation management

A new approach to strategic innovation

IBM debuts $500 nillion enterprise AI venture fund

Mendoza Ventures closes Truist Ventures investments for its $100 million early growth fintech fund


Personal Development / Leadership 

Stoicism isn't pessimistic. It's boldly optimistic.

Seeing opportunities where others see obstacles

28 pieces of productivity advice I stole from people smarter than me

How to beat procrastination

5 thoughts on overcoming fear and self-doubt

The two types of inspiration

The fight is the reward

How to become a better strategic thinker

How to use setbacks as energy


Podcasts / Videos  

Acquired Interviews: w/ Charlie Munger

Robin Hood NYC 2023 Fireside Chat: Stanlet Druckenmiller and Paul Tudor Jones

Bloomberg New Economy: with Citadel's Ken Griffin

Prof G Markets: 3rd Quarter Review with Aswath Damodaran  

David Rubenstein interviews: Jon Gray and Ken Griffin

TKP Insights: Learning and Thinking

GS Exchanges: Blackrock's Tony Kim on the 'dawn of a new intelligence era'


Speeches / Communications

Andrew Bailey, Gov of BoE: "Openness beats fragmentation"

Lisa Cook, Mem of Board of Govs at FedRes: "Financial Stability: Resilience and Challenges" 


Research Reports  

OW: The New Monetary Order in the US

Deloitte: Digital Maturity

BIS: Platform lending and Innovation 

BIS: Challenges in supervising large bank exposure 

BIS: Profitability, valuation and resilience of global banks - a tight link

BIS: Will the real stablecoin please stand up

Deloitte: The Generative AI Dossier

ADL: Generative AI - Toward a new civilization?

The financing role of private equity

FTPartners: Fintech in India

Accenture: How leadership and culture can accelerate decarbonization

Deloitte: Data management trends in the financial services sector

The role of API-first approach in shaping the future of embedded finance in 2024

ADL: Embedded Payments

BCG: Responding to the new reality in banking

Evidence from banks' partnering with Zelle

Lazard: Geopolitics of AI

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