Sang Zarrin’s Post

Big moves: Old Mutual’s financial performance Soars as it prepares to venture into banking sector. Old Mutual is gearing up to make waves in the banking sector with the launch of its new bank “by the end of this year”. South Africa’s second-largest insurer applied for a banking licence in 2022. Last week, when the group presented its 2023 results, chief executive Iain Williamson said Old Mutual completed building the bank’s core functionality at the end of last year, “within budget and on time – it cost us R1.75 billion to stand up the capability”. Read the full article to get further insights on the financial performance in 2023: https://buff.ly/4aFflOq #OldMutual #annualresults #IainWilliamson #massmarket #valueofnewbusiness #lifesales #moonstoneinfo #moonstoneupdate #industrynews

Big moves: Old Mutual’s financial performance Soars as it prepares to venture into banking sector. Old Mutual is gearing up to make waves in the banking sector with the launch of its new bank “by the end of this year”. South Africa’s second-largest insurer applied for a banking licence in 2022. Last week, when the group presented its 2023 results, chief executive Iain Williamson said Old Mutual completed building the bank’s core functionality at the end of last year, “within budget and on time – it cost us R1.75 billion to stand up the capability”. Read the full article to get further insights on the financial performance in 2023: https://buff.ly/3vIHcy3 #OldMutual #annualresults #IainWilliamson #massmarket #valueofnewbusiness #lifesales #moonstoneinfo #moonstoneupdate #industrynews

CT Group’s Abdul Malik Anwar Deen and Asli Arslan Tedeschi were quoted in The Business Times recently addressing the growing issue of de-banking which is often a logistical nightmare for individuals, their businesses and other types of organisations. This is echoed by the Financial Times earlier today in the below article: https://lnkd.in/eZ9YZctb We are experts in helping our clients build and maintain robust relationships with their banks and other key stakeholders. Our work assists financial institutions, regulators and potential business partners understand the background of our clients, including their history and origins of wealth. #debanked #sourceofwealth #privatewealth #banks #privatebanking #wealth #debanking #Singapore #sourceofwealth #sourceoffunds #bankingandcompliance #PEPdesignation Jon de Jager FCA, Abdul Malik Anwar Deen, Andrew Macintosh, Asli Arslan Tedeschi, David Phillips

How the evolution of secondaries is shifting the lending landscape. Lloyds Bank writes that for secondaries sponsors seeking banking support, deep market knowledge and insight born from experience – combined with a comprehensive product offering and capabilities – are key. Cassie Fisher | Jill Wilson #Secondaries #Secondary #SecondaryMarket #AlternativeInvestments #PrivateMarkets #PrivateEquity #PE https://lnkd.in/eTKRbxfg

Standard Chartered's Q1 2024 results demonstrate the value of our unique franchise. In particular, our Wealth Solutions and Deposits income are up 23% and 14%, respectively. This is on the back of our focus on NTB Affluent clients, International Banking to leverage our network and drive to bring in Net New Money. In Q1 we sustained our momentum in onboarding 62k new-to-bank affluent clients and doubling of affluent net new money. Continued innovation across our wealth product suite, building our advisory platform/journey’s as well as research capability enables us to fulfill clients' evolving wealth needs. I am also pleased that our own Signature CIO Funds launched late 2022 have crossed USD1 bn net sales as of April 2024. A big thanks to all my colleagues in Wealth and Retail Banking who have made it possible to deliver a strong start to 2024. #StanChartResults #HereForGood Standard Chartered Nicolas Rigois Sumeet Bhambri Gautam Duggal Lisa Fong Pamela Tseng Owen Young Eugene Puar Samrat Khosla Sachin Bhambani Saurabh Jain David Leung Alson Ho Usman Khalid Steve Brice Lay Choo Ong #wealth #wealthmanagement #affluent #internationalbanking #wealthcreation #wealthprotection #deposits #NNM #netnewmoney #HNW #UHNW #highnetworth

Great article here on how we are focused on delivering the very best service possible for our broker network. Bankwest #bankwestforbrokers

Four people with knowledge of the situation said on Thursday that Britain's finance minister, Jeremy Hunt, will meet with the leaders of the country's leading banks on Tuesday to get their assurances about their ability to continue lending to the economy. The following companies are anticipated to attend the meeting: Santander UK (SANS_pa.L), HSBC (HSBA.L), Barclays (BARC.L), Lloyds Banking Group (LLOY.L), NatWest Group (NWG.L), and Santander UK (HSBA.L), according to an earlier report from Sky News. Source - Reuters Follow us for daily updates 👍 #brandsandbusinessmagazine #business #businessnews #magazine #news #internationalnews

Coastal has joined the ranks in the prestigious ‘Bank Honor Roll’ list! KBW, a leading specialist investment bank to the financial services and fintech sectors, recently named Coastal as one of the top 18 U.S. banking institutions to the coveted 2024 KBW Bank Honor Roll. These 18 elite banks were selected to the KBW Bank Honor Roll based on two central criteria: 1. Consistent earnings growth over the past 10 years 2. Or top 5% Earnings Per Share & Growth Rate over the past 10 years. Only two banks, including Coastal, satisfied both criteria! Details here --> https://lnkd.in/gcumJivD #banking #bankinvesting #topbanks #growingbanks #communitybanking #profitability

With two of the UK’s biggest banking groups recently combining forces, James Wilson, Head of M&A and Transactional Risks at Factor Risk Management, tells us why he believes that the takeover of Virgin Money by Nationwide is part of a trend that is only likely to gather momentum over the coming months, with a wave of consolidation likely to hit the banking sector. #Banking