Finserv Reading - Week ending September 15, 2024

Bijon Mehta Bijon Mehta

Bijon Mehta

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

Published Sep 15, 2024
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Banking

High pressure, long days, crushing workloads: why is investment banking like this?

Megamerger of European banks still wouldn't challenge Wall Street

UniCredit's Andrea Orcel swoops on Commerzbank

JPMorgan shares fall after warning on 'too high' earnings outlook

Goldman's credit-cards exit hampered by lax lending standards

HSBC consider cost-cutting merger of commercial and investment banking units

European banks set for slowest mortgage lending growth in a decade

Lloyds Banking Group plans 292 branch closures in 2025

The challenge of phasing out fossil fuel finance in the banking sector

Standard Chartered creates new banking team as it bids for big cross-border deals

US banks extend slide as investors weigh executives' sovereign forecasts

How core modernization can revitalize US regional banking

57% of Americans trust financial institutions to protect their data

Three critical factors for a successful digital transformation strategy

Smartly connecting business and technology to unlock banking value

How banks can optimize customer dispute resolution

BoA sees weak investment banking, modest trading revenue gain

Revolut says it can debank customers without 'good reason'


Wall Street

Is Wall Street's big trading boom over?

Election betting is going mainstream after major brokerage gets on board

Criminal charge against outspoken short seller unsettles Wall St.

Is the market made by Michael Milken turning full circle?

Companies issue record level of US debt to avoid market turbulence and election risk

Fixed income increases outsourced trading


Economy

American's are falling behind on their bills. Wall Street is alarmed.

Why a Fed rate cut won't solve the housing wealth gap

Maldives hunts for bailout to avoid first Islamic sovereign debt default

Is the surge in US auto loans defaults to 15-year highs a reason to panic?

The big question is what comes next after the Federal Reserve's rate cut

ECB cuts interest rates to 3.5%

Biden's 15% minimum tax on big companies gets 603 page rulebook

Mario Draghi calls for EUR 800 billion investment boost


Geopolitics

Vladimir Putin hints at curbing uranium exports

World's largest uranium miner warns Ukraine war makes it harder to supply west

China harnesses a technology that vexed the west, unlocking a treasury chest

We need to know where the risks in supply chains really lie

Jumptuit introduces global sensory intelligence (GSI) to reduce geopolitical and environmental event risk

The battle to secure economically critical metals

Why business students are getting to grips with geopolitics

The biggest cyber warfare attacks to global geopolitics

How can companies manage geopolitical threats?


Asset Management

How do you fix Schroders?

Global ETF flows on course to soar past previous records

What's left to be ETF'd

Hedge fund investors in hedge funds extract lower fees for subpar returns

Multi manager hedge funds suffer outflows as investor frenzy fades

Cliff Asness has steered hedge fund AQR through not one, not two, but three quant crisis


Wealth Management  

The fanatic amateur investors behind Palantir

Private markets seem out of reach for individual investors. Blackrock thinks it has an answer.

What does Robinhood want to be when it grows up?

Apollo is selling $1 billion a month of products to the wealthy

Schwab trading activity gauge slips in August, stays at moderate levels


Insurance

Swiss Re foresees rising demand for reinsurance amid increasing global risks

Munich Re dismisses 'nonsense' calls for property reinsurance price cuts

Insurance industry cries 'roof claims hitting new high'

How to be an insurer in an increasingly chaotic economy


Real Estate   

Why. a Fed rate cut won't solve the housing wealth gap

Mortgage rates are plummeting but will sales grow?

Fed rate cuts aren't even here yet. Wall Street's booming commercial real estate business isn't waiting

Rent, utilities rose faster than home values for first time in a decade


Payments 

How to inoculate the world against a payment fraud pandemic

Stripe-backed fintech warns of Europe's over-reliance on US payment systems

Mastercard agrees $2.65 billion deal to buy threat intelligence giant Recorded Future

Digital wallet transactions set to grow, while card payments shrink

Global Payments CEO reshapes the business 

Barclays struggling to sell stake in UK in payments business, sources say


Venture Capital / Private Equity

Apollo and State Street join forces on public-private credit fund

Britain is building a new sovereign wealth fund - what can it learn from the others?

The college dropout who invested billions to cozy up with Elon Musk

Outward VC raises GBP 51 million fintech fund

$15 trillion retirement prize at stake as private equity fights insurers

Brookfield to offer private equity product for retail investors


AI / ML

OpenAI acknowledges new models increase risk of misuse to create bioweapons

The $200 billion man: Larry Ellison's wealth rebounds as Oracle joins AI boom

The AI bill driving a wedge through through Silicon Valley

Jumptuit's Net Gen AI-Anticipatory Intelligence: Forecasting the Unexpected 

OpenAI aims to raise at least $5 billion at $150 billion valuation

UBS has an AI tool that can scan 300,000 firms in 20 seconds

The AI spending spree, in charts

AI exuberance masks broad weakness in tech sector, say investors

"Death of a Salesforce"; Why AI will transform the next generation of sales tech

The AI future is already here, it's just not productized yet

Vanguard: Investors should "temper expectations" on AI

How a fund manager is using AI to get an edge

Insurance insiders say AI has not met expectations yet but still holds future potential

The deflating AI bubble is inevitable and healthy

Now we know the risks of AI, here's how policy frameworks can mitigate them


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ESG / Climate Change

The fragmentation of carbon markets must be fixed

Euronext launches new ESG initiatives to propel sustainable finance

A landslide linked to climate change 'rang' the earth for 9 days, researchers say

Climate change and the case for nuclear fusion

An ESG backlash erupts in Europe on world's strictest rules

How to really end ESG

Norway wealth fund voices concern over 'fragmentation' of ESG

The unintended consequences of ESG investing - and how to prevent them

What role will 'new nuclear' play in the energy transition

How the US election could impact the energy transition

The pivotal role of LNG in the global energy transition

Top 10: Countries leading the energy transition

When climate change hits close to home

IFC launches initiative to help European banks manage climate risks

How sustainability is reshaping the Middle East financial landscape


Bigtech 

Google's breakup is starting to get priced in

Google and Apple face billions in penalties after losing EU appeals

Tech giants fight plan to make them pay more for electric grid upgrades

Big tech is lobbying to keep its stranglehold on local news

US argues Google created ad tech monopoly


Fintech  

FIS draws fintech  startups into accelerator

Polly secures $25 million to enhance mortgage tech innovation and growth

Bookkeeping startup Finally grabs $200 million as AI bolsters enterprise fintech

Banking-as-a-service focus turns to managing financial crimes risks


Blockchain / Crypto 

Janus Henderson to follow Blackrock and Fidelity into tokenization

The shadow dollar that's fueling the financial underworld

"Every major asset manager" working on tokenization

Crypto is betting it all on the 2024 elections

eToro to shut down nearly all crypto trading in settlement with US SEC

Crypto fraud increased 45% last year to $5.6 billion, FBI says

Asset tokenization could awaken a coming of age for investors

Binance warns of 5 major risks in real-world asset tokenization


Regulation / Compliance  

Basel III: The US has started a race to the bottom

How SEC mobile phones can signal an imminent stock price drop

Europe's privacy watchdog probes Google's use of data for AI models

Fed backpedals on plan to increase big bank capital

UK lays the groundwork for open finance era with completion of open banking roadmap


Corporate Venture / Innovation                                       

A better way to unlock innovation and drive change

Jack Ma urges Alibaba to trust in market forces and innovation

Europe confronts its tech dilemma: Regulate or innovate

The psychology of disruptive innovation

Embedding responsible innovation in corporate strategy


Personal Development / Leadership 

The indiscipline of overwork

15 questions that will make you a better parent (and person)

Believing in yourself is overrated. This is better.

To build resilience, CEOs need to become supply chain experts

The paradox of behavior change

How to get your brain to focus on what matters

How to be happy when everything goes wrong

How to build skills that are valuable

Make your life better by saying thank you in these 7 situations


Podcasts / Videos  

A history of stock market bubbles with legendary investor Jeremy Grantham

3 signs its time to transform your core business

How to manage breakthrough innovation

GS Exchanges: Private equity investing with Blackstone's Joe Baratta

Citi: AI in Software - A multiplier or subtractor?

Book event with David Rubenstein and Admiral James Stavridis


Speeches / Communications

Michael S Barr, Vice Chair for Supervision at FedRes: "The next steps on capital"

Rowan Street Q2 2024 Letter


Research Reports  

FBI: Cryptocurrency Fraud Report 2023

SIFMA: Primer on the Capital Markets

SIFMA: Primer on Global Equity Markets

SIFMA: Primer on Equity Markets

SIFMA: Primer on Fixed Income and Electronic Trading

Publicis Sapient: All in on AI

McK: Asia-Pacific's family office boom - Opportunity knocks

McK: Southeast Asia quarterly review - Holding up strongly

BCG: 2024 Insurance Value Creators

OW: Keys to improving supply chain risk and resilience

State of the world: economic crisis and geopolitical rivalries

IMF: Geopolitical proximity and the use of global currencies

The future of European competitiveness

GAO: Critical Materials

Barriers to Insurance Innovation

EU: State of the Energy Union Report

Bain: The Visionary CEO's Guide to Sustainability

UN: Resourcing the Energy Transition

BNY: Unified Capital Markets for Europe

PGIM: 3Q24 On The Markets 

Blue Owl: 2024 Market Outlook

KKR: Benefits of Multi-Asset Credit

KKR: Global Wealth Investment Playbook

Blackrock: Solving the private markets allocation gap

BCG: Creating value with your integrated sales tech stack

EY: Data and AI-driven Transformation in the Energy Sector

Deloitte: Future of CRM

KPMG: The Pulse of Fintech - 1H24

Banking Superapps are Inevitable

State of AI in Saudi Arabia

McK: Charting a path to the data- and AI- driven enterprise of 2030

OW: The New Growth Agenda

CG: Payments Velocity, Meet Value

The Complete Tokenization Process

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