Robin Saunders is a British financier and founder of Clearbrook Capital Partners, a private equity firm. She discusses her career path from studying finance and dance to becoming a pioneer in securitization deals in the 1990s at banks like Citibank and Deutsche Bank. She founded Clearbrook in 2000 to pursue private equity deals, investing in entrepreneur-led companies undergoing expansion. Saunders also talks about challenges she faced as a woman in the male-dominated finance world and her work-life balance as a mother of twin daughters.
Les media sociaux, la marque et le consommateurPascal Ollivier
Les media sociaux sont ils en mesure de réconcilier la marque et le consommateurs ?
Tout d’abord nous étudierons les origines de ce divorce et comment depuis 60 ans nous sommes passés d’une société de consommation à une société de contestation, passage facilité par la montée des nouvelles technologies. Ensuite nous aborderons la nécessité de repenser la communication dans ce nouveau contexte. Enfin, nous montrerons en quoi la montée du social impose aux entreprises de repenser leurs organisations. Au travers de ces trois parties, nous allons tenter de démontrer comment les media sociaux peuvent être une opportunité pour les marques et les entreprises à condition de changer fondamentalement leur façon de penser la relation aux consommateurs.
Brand content musical et digital : nouveau paradigme pour révéler la valeur "...TaliBoumandil
Ce mémoire de fin d'études s'interroge sur l'avenir d'un phénomène toujours en pleine expansion, le brand content musical, face aux méthodes de communication digitale. Nous nous attacherons à questionner l'apport, mais aussi les limites, des stratégies de communication digitale dans l'univers de la musique.
This document provides an overview of a project report on consumers' preferences between branded and non-branded jewelry. It includes sections on the objective of the study, what an internship is, a description of the problem, significance of the study, an introduction to jewelry in India, research methodology, and consumer buying behavior related to jewelry. The objective is to compare consumer preferences and perceptions toward branded versus non-branded jewelry.
Undang-undang ini mengatur tentang pembagian wilayah negara Republik Indonesia menjadi provinsi dan kabupaten/kota, serta mendefinisikan berbagai istilah terkait pemerintahan daerah seperti otonomi daerah, desentralisasi, dekonsentrasi, dan tugas pembantuan.
The Future Of Health 2014 www.psfk.com/future-of-health / #FutureOfHealth A Foreword PIERS FAWKES Founder & President, PSFK Labs labs.psfk.com Imagine a future where wearable technologies track key areas of your life to provide timely prompts about your health, and the data gathered can be uploaded securely to the cloud. Instead of going into the doctor’s office for a checkup, you would schedule a video consultation to discuss your recent readings. In instances when you need further care, your visits would be coordinated by medical records that flow seamlessly between key members of hospital staff and your care would be supported by relevant information that prepares you for what’s next. Your surgeon would be able to look at your results alongside the wider patient population or seek advice from specialists around the world to determine an optimal treatment plan; the effectiveness of which would determine their compensation. While the realities of the current model of healthcare tell a different story, we’re beginning to see exciting signs of change against daunting challenges. The World Economic Forum estimates that unless current trends reverse, five common ‘lifestyle’ diseases— cancer, diabetes, heart disease, lung disease and mental health problems—will cost the world $47 trillion in treatments and lost wages. Add that figure to a system that could see a shortage of 90,000 doctors in the US alone by the end of the decade, and the picture becomes bleak. Rather than view these as insurmountable obstacles, we choose to see a landscape full of opportunity. Despite a slow regulatory process a host of new mobile and social tools, sensor technologies and devices are being developed for an industry in need of change. These innovations are poised to improve health lifestyle choices and change the way care is delivered. We’re excited to share this patient-centered vision in our latest report.
Les media sociaux, la marque et le consommateurPascal Ollivier
Les media sociaux sont ils en mesure de réconcilier la marque et le consommateurs ?
Tout d’abord nous étudierons les origines de ce divorce et comment depuis 60 ans nous sommes passés d’une société de consommation à une société de contestation, passage facilité par la montée des nouvelles technologies. Ensuite nous aborderons la nécessité de repenser la communication dans ce nouveau contexte. Enfin, nous montrerons en quoi la montée du social impose aux entreprises de repenser leurs organisations. Au travers de ces trois parties, nous allons tenter de démontrer comment les media sociaux peuvent être une opportunité pour les marques et les entreprises à condition de changer fondamentalement leur façon de penser la relation aux consommateurs.
Brand content musical et digital : nouveau paradigme pour révéler la valeur "...TaliBoumandil
Ce mémoire de fin d'études s'interroge sur l'avenir d'un phénomène toujours en pleine expansion, le brand content musical, face aux méthodes de communication digitale. Nous nous attacherons à questionner l'apport, mais aussi les limites, des stratégies de communication digitale dans l'univers de la musique.
This document provides an overview of a project report on consumers' preferences between branded and non-branded jewelry. It includes sections on the objective of the study, what an internship is, a description of the problem, significance of the study, an introduction to jewelry in India, research methodology, and consumer buying behavior related to jewelry. The objective is to compare consumer preferences and perceptions toward branded versus non-branded jewelry.
Undang-undang ini mengatur tentang pembagian wilayah negara Republik Indonesia menjadi provinsi dan kabupaten/kota, serta mendefinisikan berbagai istilah terkait pemerintahan daerah seperti otonomi daerah, desentralisasi, dekonsentrasi, dan tugas pembantuan.
The Future Of Health 2014 www.psfk.com/future-of-health / #FutureOfHealth A Foreword PIERS FAWKES Founder & President, PSFK Labs labs.psfk.com Imagine a future where wearable technologies track key areas of your life to provide timely prompts about your health, and the data gathered can be uploaded securely to the cloud. Instead of going into the doctor’s office for a checkup, you would schedule a video consultation to discuss your recent readings. In instances when you need further care, your visits would be coordinated by medical records that flow seamlessly between key members of hospital staff and your care would be supported by relevant information that prepares you for what’s next. Your surgeon would be able to look at your results alongside the wider patient population or seek advice from specialists around the world to determine an optimal treatment plan; the effectiveness of which would determine their compensation. While the realities of the current model of healthcare tell a different story, we’re beginning to see exciting signs of change against daunting challenges. The World Economic Forum estimates that unless current trends reverse, five common ‘lifestyle’ diseases— cancer, diabetes, heart disease, lung disease and mental health problems—will cost the world $47 trillion in treatments and lost wages. Add that figure to a system that could see a shortage of 90,000 doctors in the US alone by the end of the decade, and the picture becomes bleak. Rather than view these as insurmountable obstacles, we choose to see a landscape full of opportunity. Despite a slow regulatory process a host of new mobile and social tools, sensor technologies and devices are being developed for an industry in need of change. These innovations are poised to improve health lifestyle choices and change the way care is delivered. We’re excited to share this patient-centered vision in our latest report.
This document contains responses to a questionnaire about a front cover. It likely includes information such as the purpose of the cover, intended audience, key messages to convey, and visual design elements. The responses would help guide the creation and design of the front cover for whatever publication, product, or project it is accompanying.
World War 1 began on July 28, 1914 and lasted until November 11, 1918. It started as a local European conflict between Austria-Hungary and Serbia but grew to become a global war involving 30 countries and more than 70 million military personnel. The two opposing alliances were the Allies including the UK, France, Russia, and later the US, and the Central Powers including Germany, Austria-Hungary and the Ottoman Empire. After over four years of heavy casualties on both sides from trench warfare and new military technologies, Germany agreed to an armistice, ending the war. In total over 16 million people died making it one of the deadliest conflicts in history.
The Indian Institute of Foreign Trade (IIFT) in collaboration with Institute of Finance Management, Tanzania invites applications for Master of Business Administration (MBA - International Business) Degree Programme at Dar es Salaam Campus, for academic year 2015-17 (starting October 2015).
Banks brace for risk data aggregation and reportingMarkit
The world's largest banks face major challenges in implementing the Basel Committee's demanding new principles for risk data aggregation. These new principles could see banks spending much more on new governance in an effort to meet the January 2016 deadline.
This document summarizes the social media management services provided to several clients. It describes growing Facebook fan pages for HUE, Belvedere Vodka, and Caché by hundreds of percentages. It also details developing Instagram, Pinterest, and Twitter presences for brands, gaining thousands of followers and high engagement rates. Campaigns including influencer partnerships and takeovers generated hundreds of thousands of social media impressions.
The document provides details about a short film project created by a group of students. It includes:
- A synopsis that outlines the plot involving a mother who encounters a mystery from her past when she recognizes a familiar face.
- Character descriptions of the four main characters: Kimmy, Naomi, Chris, and Jerome.
- Plans to use various real-world locations to develop meanings and attach them to the story.
- The genres of thriller, docu-drama, and urban social realism were chosen to capture an ongoing social issue while also adding suspense.
Innovating European Studies - CVCE Status Report 2015Isabelle Voegeli
The CVCE in 2015 provided a digital research infrastructure on European integration called CVCE.eu that consisted of several key assets:
1) Over 35 enhanced thematic publications and 95 oral history interviews across two main collections that were internationally peer-reviewed.
2) Three interconnected reference databases and a data repository containing over 20,000 open access digital resources in 26 languages from over 30 countries.
3) A digital scholarly toolbox, content management system, and user-oriented web interface for accessing and using the collections and tools.
4) Over 750,000 user sessions worldwide in 2015, cementing CVCE's role as a leading digital research infrastructure for European integration studies.
The document discusses the benefits of meditation for reducing stress and anxiety. Regular meditation practice can help calm the mind and body by lowering heart rate and blood pressure. Studies have shown that meditating for just 10-20 minutes per day can have significant positive impacts on both mental and physical health over time.
Chuck Royce, a pioneer in small cap value investing, discussed his nearly five decades in the industry. He founded Royce & Associates in 1972 and has achieved nearly 13% annual returns. Royce seeks opportunities where quality meets value, as seen through his restoration of a 74-foot yacht and the Ocean House Hotel. Royce believes value and active managers will perform better in a normalized interest rate environment with less market distortions and higher volatility. He remains optimistic about international small caps and cyclical industries.
Dr. Darin Gunesekera gave a talk on new directions in social entrepreneurship. He discussed how social entrepreneurship has become an important movement in economics and business as it brings passion and a focus on realities back to these sometimes dull subjects. It originated as a response to the failures of large NGOs and organizations to actually end poverty, as they spent most of their time on fundraising rather than work. Social entrepreneurship, as pioneered by Bill Drayton, recognized that the citizen sector was narrowing the return-on-investment gap with the private sector. It asserts this sector now has opportunities in technology and using empathy. Dr. Gunesekera showed a video of Bill Drayton discussing the origins
The document summarizes the Financial Services Club London for the 2012-2013 season. The Club was established in 2004 as a private networking club for financial professionals that meets regularly for debates and discussions on the future of financial services. It has locations in London as well as Edinburgh, Dublin, and Vienna, and typically hosts 50 or more senior bank and technology executives at each meeting. The summary provides an overview of some of the scheduled meetings and speakers for the 2012-2013 season, including discussions on topics like the future of money, challenges of fraud in the age of mobile internet, and peer-to-peer lending.
Editable 017 Research Paper Outline Action Proposal TemNatasha Barnett
The document provides steps for requesting an assignment writing service from HelpWriting.net, including creating an account, completing an order form, reviewing writer bids, selecting a writer, and revising the completed paper if needed. The process utilizes a bidding system where writers submit bids for the assignment, and the client chooses a writer based on qualifications and reviews. Clients can request revisions to ensure satisfaction, and HelpWriting.net offers refunds for plagiarized work.
This document provides instructions for requesting writing assistance from HelpWriting.net. It outlines a 5-step process:
1. Create an account with a password and email.
2. Complete a 10-minute order form providing instructions, sources, deadline and sample work.
3. Review bids from writers and choose one based on qualifications.
4. Review the completed paper and authorize payment or request revisions.
5. Request multiple revisions to ensure satisfaction, with the option of a full refund for plagiarized work.
Rhodes in the ODT - Eclectic path to perfect jobRhodes Donald
Rhodes Donald has had an eclectic career path before finding his perfect job as a senior adviser and director at Polson Higgs Wealth Management. He has worked as an air traffic controller, run a Hindu ashram, taught mathematics, and gained experience in finance and research. Donald enjoys advising clients and developing long-term investment strategies tailored to their individual needs and risk tolerance. He finds the work rewarding and believes in maintaining a philosophy not reliant on forecasts but instead based on research and data analysis.
TITANIC – Critical Essay - GCSE English - Marked by Teachers.com. Titanic Essay- the techniques used by ‘James Cameron’ - University .... The titanic - My story. - GCSE English - Marked by Teachers.com. Titanic essay | Erin Boddy. Essay about the titanic ship. Titanic(1). Titanic: Writing and Evaluating Arguments by Jennifer Stewart | TpT. The Sinking of the Titanic Free Essay Example. Titanic - does it have historical significance today? - GCSE Sociology .... History of Titanic Essay | l·e·c incorporated. Titanic :: essays research papers - 123helpme. The effects of the titanic Essay Example | Topics and Well Written .... Essay on the titanic - Can You Write … - writingessay.web.fc2.com. Critical analysis of the Titanic Essay Example | Topics and Well .... Essay my favourite movie titanic. Who sank the Titanic? - GCSE History - Marked by Teachers.com. Titanic Essay by Matt Ingram. A review of the film Titanic - GCSE English - Marked by Teachers.com. Titanic - original writing - GCSE English - Marked by Teachers.com. Essay titanic story - writinggroup361.web.fc2.com. Titanic essay outline. Titanic Essay - GCSE English - Marked by Teachers.com. Titanic original - GCSE English - Marked by Teachers.com. The History of the Titanic. - GCSE History - Marked by Teachers.com. Titanic - The Review - GCSE Miscellaneous - Marked by Teachers.com. Titanic | Rms Titanic | Ships. ᐅ Essays On Titanic
Illustration Essay: Guide to Writing an Excellent Piece of Work. Illustration Essay Writing Help. How to Write an Illustration Essay : Complete Guide - Peachy Essay. 018 Illustration Essay Topic Ideas List Illustrative Photo Awesome .... Emmas pdp Year 1: Illustration Essay. Illustration Essay 400 Words - PHDessay.com. Example Of An Illustration Essay Telegraph. 25 Free Illustration Essay Examples Pics - scholarship. How To Write An Illustration Essay? - Sample Assignment. Example Illustration Essay Telegraph. How To Write An Illustration Essay - YouTube. Illustration Essay: Topics, Tips and the Outline HandmadeWriting Blog. Business paper: Sample illustration essay. Illustration Essay - Excelsior College OWL. Essay writing illustration concept 2799666 Vector Art at Vecteezy. Illustration Essay: An Ultimate Writing Guide for Students. Examples of illustration essay. Illustration Essay Examples, HD Png Download - kindpng. How To Write An Illustration Essay Help Topics Examples. How Do I Write an Example/Illustration Essay? - Wheeling Jesuit .... Illustration essay means / rcalvet.com. 2 Illustration Essay Examples That Are Exemplary Kibin Blog. Essay 1 amp; 2 Examples Illustration. Useful Guidelines for a Winning Illustration Essay - paperhelpwriting. How to Write an Illustration Essay. Welcome to PenMyPapers blog academic readers paradise- Part 27. what is an essay illustration - World Social Media Mainstreet. Free Illustration Essay Examples. How to Write an Illustration Essay 2022 Guide. Tips amp; Method of writing an illustration essay. Illustration essay - College Homework Help and Online Tutoring. Illustration Essay Illustration Essay
The document outlines the steps to request and receive a custom written paper through the website HelpWriting.net. It involves 5 steps: 1) Creating an account with valid email and password. 2) Completing a 10-minute order form providing instructions, sources, and deadline. 3) Reviewing bids from writers and choosing one based on qualifications. 4) Reviewing the completed paper and authorizing payment if satisfied. 5) Requesting revisions until fully satisfied, with the guarantee of a refund for plagiarized work.
Write A Descriptive Essay About Myself. Online assignment writing service.Angela Jennings
The document provides instructions for writing a descriptive essay about oneself. It outlines a 5-step process: 1) Create an account, 2) Complete a 10-minute order form providing instructions, sources, and deadline, 3) Review bids from writers and choose one, 4) Review the completed paper and authorize payment, 5) Request revisions to ensure satisfaction. The purpose is to receive high-quality original content while standing by a promise of refunds for plagiarized work. Customers can request assistance with their assignments through this online writing service.
This document contains responses to a questionnaire about a front cover. It likely includes information such as the purpose of the cover, intended audience, key messages to convey, and visual design elements. The responses would help guide the creation and design of the front cover for whatever publication, product, or project it is accompanying.
World War 1 began on July 28, 1914 and lasted until November 11, 1918. It started as a local European conflict between Austria-Hungary and Serbia but grew to become a global war involving 30 countries and more than 70 million military personnel. The two opposing alliances were the Allies including the UK, France, Russia, and later the US, and the Central Powers including Germany, Austria-Hungary and the Ottoman Empire. After over four years of heavy casualties on both sides from trench warfare and new military technologies, Germany agreed to an armistice, ending the war. In total over 16 million people died making it one of the deadliest conflicts in history.
The Indian Institute of Foreign Trade (IIFT) in collaboration with Institute of Finance Management, Tanzania invites applications for Master of Business Administration (MBA - International Business) Degree Programme at Dar es Salaam Campus, for academic year 2015-17 (starting October 2015).
Banks brace for risk data aggregation and reportingMarkit
The world's largest banks face major challenges in implementing the Basel Committee's demanding new principles for risk data aggregation. These new principles could see banks spending much more on new governance in an effort to meet the January 2016 deadline.
This document summarizes the social media management services provided to several clients. It describes growing Facebook fan pages for HUE, Belvedere Vodka, and Caché by hundreds of percentages. It also details developing Instagram, Pinterest, and Twitter presences for brands, gaining thousands of followers and high engagement rates. Campaigns including influencer partnerships and takeovers generated hundreds of thousands of social media impressions.
The document provides details about a short film project created by a group of students. It includes:
- A synopsis that outlines the plot involving a mother who encounters a mystery from her past when she recognizes a familiar face.
- Character descriptions of the four main characters: Kimmy, Naomi, Chris, and Jerome.
- Plans to use various real-world locations to develop meanings and attach them to the story.
- The genres of thriller, docu-drama, and urban social realism were chosen to capture an ongoing social issue while also adding suspense.
Innovating European Studies - CVCE Status Report 2015Isabelle Voegeli
The CVCE in 2015 provided a digital research infrastructure on European integration called CVCE.eu that consisted of several key assets:
1) Over 35 enhanced thematic publications and 95 oral history interviews across two main collections that were internationally peer-reviewed.
2) Three interconnected reference databases and a data repository containing over 20,000 open access digital resources in 26 languages from over 30 countries.
3) A digital scholarly toolbox, content management system, and user-oriented web interface for accessing and using the collections and tools.
4) Over 750,000 user sessions worldwide in 2015, cementing CVCE's role as a leading digital research infrastructure for European integration studies.
The document discusses the benefits of meditation for reducing stress and anxiety. Regular meditation practice can help calm the mind and body by lowering heart rate and blood pressure. Studies have shown that meditating for just 10-20 minutes per day can have significant positive impacts on both mental and physical health over time.
Chuck Royce, a pioneer in small cap value investing, discussed his nearly five decades in the industry. He founded Royce & Associates in 1972 and has achieved nearly 13% annual returns. Royce seeks opportunities where quality meets value, as seen through his restoration of a 74-foot yacht and the Ocean House Hotel. Royce believes value and active managers will perform better in a normalized interest rate environment with less market distortions and higher volatility. He remains optimistic about international small caps and cyclical industries.
Dr. Darin Gunesekera gave a talk on new directions in social entrepreneurship. He discussed how social entrepreneurship has become an important movement in economics and business as it brings passion and a focus on realities back to these sometimes dull subjects. It originated as a response to the failures of large NGOs and organizations to actually end poverty, as they spent most of their time on fundraising rather than work. Social entrepreneurship, as pioneered by Bill Drayton, recognized that the citizen sector was narrowing the return-on-investment gap with the private sector. It asserts this sector now has opportunities in technology and using empathy. Dr. Gunesekera showed a video of Bill Drayton discussing the origins
The document summarizes the Financial Services Club London for the 2012-2013 season. The Club was established in 2004 as a private networking club for financial professionals that meets regularly for debates and discussions on the future of financial services. It has locations in London as well as Edinburgh, Dublin, and Vienna, and typically hosts 50 or more senior bank and technology executives at each meeting. The summary provides an overview of some of the scheduled meetings and speakers for the 2012-2013 season, including discussions on topics like the future of money, challenges of fraud in the age of mobile internet, and peer-to-peer lending.
Editable 017 Research Paper Outline Action Proposal TemNatasha Barnett
The document provides steps for requesting an assignment writing service from HelpWriting.net, including creating an account, completing an order form, reviewing writer bids, selecting a writer, and revising the completed paper if needed. The process utilizes a bidding system where writers submit bids for the assignment, and the client chooses a writer based on qualifications and reviews. Clients can request revisions to ensure satisfaction, and HelpWriting.net offers refunds for plagiarized work.
This document provides instructions for requesting writing assistance from HelpWriting.net. It outlines a 5-step process:
1. Create an account with a password and email.
2. Complete a 10-minute order form providing instructions, sources, deadline and sample work.
3. Review bids from writers and choose one based on qualifications.
4. Review the completed paper and authorize payment or request revisions.
5. Request multiple revisions to ensure satisfaction, with the option of a full refund for plagiarized work.
Rhodes in the ODT - Eclectic path to perfect jobRhodes Donald
Rhodes Donald has had an eclectic career path before finding his perfect job as a senior adviser and director at Polson Higgs Wealth Management. He has worked as an air traffic controller, run a Hindu ashram, taught mathematics, and gained experience in finance and research. Donald enjoys advising clients and developing long-term investment strategies tailored to their individual needs and risk tolerance. He finds the work rewarding and believes in maintaining a philosophy not reliant on forecasts but instead based on research and data analysis.
TITANIC – Critical Essay - GCSE English - Marked by Teachers.com. Titanic Essay- the techniques used by ‘James Cameron’ - University .... The titanic - My story. - GCSE English - Marked by Teachers.com. Titanic essay | Erin Boddy. Essay about the titanic ship. Titanic(1). Titanic: Writing and Evaluating Arguments by Jennifer Stewart | TpT. The Sinking of the Titanic Free Essay Example. Titanic - does it have historical significance today? - GCSE Sociology .... History of Titanic Essay | l·e·c incorporated. Titanic :: essays research papers - 123helpme. The effects of the titanic Essay Example | Topics and Well Written .... Essay on the titanic - Can You Write … - writingessay.web.fc2.com. Critical analysis of the Titanic Essay Example | Topics and Well .... Essay my favourite movie titanic. Who sank the Titanic? - GCSE History - Marked by Teachers.com. Titanic Essay by Matt Ingram. A review of the film Titanic - GCSE English - Marked by Teachers.com. Titanic - original writing - GCSE English - Marked by Teachers.com. Essay titanic story - writinggroup361.web.fc2.com. Titanic essay outline. Titanic Essay - GCSE English - Marked by Teachers.com. Titanic original - GCSE English - Marked by Teachers.com. The History of the Titanic. - GCSE History - Marked by Teachers.com. Titanic - The Review - GCSE Miscellaneous - Marked by Teachers.com. Titanic | Rms Titanic | Ships. ᐅ Essays On Titanic
Illustration Essay: Guide to Writing an Excellent Piece of Work. Illustration Essay Writing Help. How to Write an Illustration Essay : Complete Guide - Peachy Essay. 018 Illustration Essay Topic Ideas List Illustrative Photo Awesome .... Emmas pdp Year 1: Illustration Essay. Illustration Essay 400 Words - PHDessay.com. Example Of An Illustration Essay Telegraph. 25 Free Illustration Essay Examples Pics - scholarship. How To Write An Illustration Essay? - Sample Assignment. Example Illustration Essay Telegraph. How To Write An Illustration Essay - YouTube. Illustration Essay: Topics, Tips and the Outline HandmadeWriting Blog. Business paper: Sample illustration essay. Illustration Essay - Excelsior College OWL. Essay writing illustration concept 2799666 Vector Art at Vecteezy. Illustration Essay: An Ultimate Writing Guide for Students. Examples of illustration essay. Illustration Essay Examples, HD Png Download - kindpng. How To Write An Illustration Essay Help Topics Examples. How Do I Write an Example/Illustration Essay? - Wheeling Jesuit .... Illustration essay means / rcalvet.com. 2 Illustration Essay Examples That Are Exemplary Kibin Blog. Essay 1 amp; 2 Examples Illustration. Useful Guidelines for a Winning Illustration Essay - paperhelpwriting. How to Write an Illustration Essay. Welcome to PenMyPapers blog academic readers paradise- Part 27. what is an essay illustration - World Social Media Mainstreet. Free Illustration Essay Examples. How to Write an Illustration Essay 2022 Guide. Tips amp; Method of writing an illustration essay. Illustration essay - College Homework Help and Online Tutoring. Illustration Essay Illustration Essay
The document outlines the steps to request and receive a custom written paper through the website HelpWriting.net. It involves 5 steps: 1) Creating an account with valid email and password. 2) Completing a 10-minute order form providing instructions, sources, and deadline. 3) Reviewing bids from writers and choosing one based on qualifications. 4) Reviewing the completed paper and authorizing payment if satisfied. 5) Requesting revisions until fully satisfied, with the guarantee of a refund for plagiarized work.
Write A Descriptive Essay About Myself. Online assignment writing service.Angela Jennings
The document provides instructions for writing a descriptive essay about oneself. It outlines a 5-step process: 1) Create an account, 2) Complete a 10-minute order form providing instructions, sources, and deadline, 3) Review bids from writers and choose one, 4) Review the completed paper and authorize payment, 5) Request revisions to ensure satisfaction. The purpose is to receive high-quality original content while standing by a promise of refunds for plagiarized work. Customers can request assistance with their assignments through this online writing service.
6 Best AI Essay Writer Tools to Create 100% Original Content. Essay Writer Software, Auto Assignment Writer - Dr Essay. Essay maker online free Get your paper done Today.. Make essay better generator. Online Essay Maker: Free Generating Tool .... Essay Generator - Automated Essay Creator.
What To Write My College Essay About. Nc state mfa creative writing - Smart D...Amanda Brown
College Essay Format: Simple Steps to Be Followed. 24 Greatest College Essay Examples – RedlineSP. FREE 11+ College Essay Samples in MS Word | PDF. FREE 9+ College Essay Examples in PDF | Examples - How to write english .... University essay paper writing services: Best College Essay Writing Service.
Red And Blue Lined Handwriting Paper Printable - Printable Word SDarlene Hernandez
Lille Tissages, S.A. was a large French textile company located in Lille that had a successful year in 2003 with sales exceeding 96 million French francs. However, the document does not provide much detail about the company's operations, challenges it faced, or its overall financial performance and outlook. More context is needed to fully understand the company's situation and future prospects.
Teach Love Laugh Daily Five With A Twist Recap OJen Wilson
The document provides instructions for creating an account on the HelpWriting.net site to request writing assistance. It outlines a 5-step process: 1) Create an account with a password and email, 2) Complete a form with assignment details and deadline, 3) Review bids from writers and choose one, 4) Review the completed paper and authorize payment, 5) Request revisions until satisfied. The site uses a bidding system and promises original, high-quality content with refunds for plagiarism.
How To Write A Thesis Sentence For An EssayJessica Baker
How To Write A Thesis Statement (with Useful Steps and Tips) • 7ESL. How to Write a Good Thesis Statement - Student-Tutor Blog. 45 Perfect Thesis Statement Templates (+ Examples) ᐅ TemplateLab. How to Write a Thesis Statement (with Pictures) - wikiHow. PPT - Writing a Thesis Statement PowerPoint Presentation - ID:1852247. Parts of a Thesis Sentence | College Writing. How to Write a Basic Thesis Sentence - Practice - YouTube. How to Write a Thesis Statement: Fill-in-the-Blank Formula Persuasive .... PPT - Writing a Thesis Statement PowerPoint Presentation, free download .... The Best Anchor Charts - Dianna Radcliff | Writing a thesis statement .... Thesis statement.
How To Write A Persuasive Essay Step By Step - - SteAshley Cornett
The document discusses the setting of Neil Gaiman's novel Neverwhere, which takes place in London. The setting plays a pivotal role in developing the character, plot and themes of the story. The story follows Richard Mayhew, a young man with a normal life, who encounters a bleeding girl on the sidewalk who says she cannot go to the hospital. This encounter pulls Richard into the hidden "London Below" that exists in parallel to the London known to most. The fantastical setting of London Below shapes the development of Richard's character and the unfolding of the plot.
Annotated Essay Example. APA Annotated Bibliography Guide With Examples Bibl...Anita Scarbury
How to Annotate a Text (and Why It's Helpful) – Kibin Blog. Of Mice and Men – Character Paragraphs: Annotated Drafts | EDUTRONIC .... Annotated Bibliography Essay Example – Telegraph. Examples - How to Write an Annotated Bibliography - LibGuides at .... College essay: Annotated bibliography tips. mla format annotated bibliography - Google Search Writing A Term Paper .... meaning of annotated | Essay writing, Professional writing, Academic ....
The document provides steps for requesting writing assistance from HelpWriting.net:
1. Create an account by providing a password and valid email address.
2. Complete a 10-minute order form providing instructions, sources, deadline, and attaching a sample for style imitation.
3. Review bids from writers for the request, choose one based on qualifications, order history, and feedback, then pay a deposit to start.
4. Review the paper and authorize full payment for the writer if pleased, or request free revisions. Multiple revisions are allowed to ensure satisfaction. HelpWriting.net guarantees original, high-quality content and refunds plagiarized orders.
The spread of Soviet-backed communism in Eastern Europe after World War 2 was largely inevitable for three main reasons:
1) Stalin had already decided to establish Soviet power and systems in the lands occupied by the Red Army, making resistance pointless.
2) Newly independent Eastern states failed to develop stable democratic governments, leaving them vulnerable to communist takeover.
3) Eastern Europe suffered political and economic weaknesses after the war, with democratic forces destroyed and a power vacuum for communists to fill. Without strong democratic foundations, the region fell behind the Iron Curtain.
This document summarizes the story of Jesse Bowden and Tiger Distribution, a sport lifestyle distribution company based in Montreal's St. Henri neighborhood. It describes how Bowden launched Tiger Distribution over 15 years ago in St. Henri, helping revitalize the area. It has since grown successful, representing seven brands and employing 15 people. Bowden worked to build the community in St. Henri, where many entrepreneurial businesses have now formed a collaborative network, reenergizing the neighborhood.
Similar to Talking business with private equity dealmaker Robin Saunders (20)
This infographic document provides a snapshot of volatility indicators across various asset classes in late 2014. Equity volatility reached a high of 19.8% in October, nearly double the level in July, signaling rising risk in financial markets in the fourth quarter. Short interest in the S&P 500 jumped 4% in early October. Loans had their worst four days of the year from October 10-14, with total year-to-date returns for liquid loans falling into negative territory due to a single-day loss, though a positive return two days later partially offset this.
The document discusses various reports and surveys related to banks' ability to aggregate, report on, and govern risk data as required by the Basel Committee on Banking Supervision's Principles for Effective Risk Data Aggregation and Risk Reporting (BCBS 239). Key points include:
- A 2013 BIS report found banks rated themselves higher on complying with risk reporting principles than risk data aggregation principles.
- A 2014 EY report found that only 6% of global systemically important banks could provide intraday firm-wide risk profile reports.
- An 2014 Oliver Wyman report estimated banks could lose up to 10% profits due to poor data.
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CoCo iBoxx index launch, Esma short selling data, Markit EDM 2014 sales, Asia Pacific vendors partnering with Markit on TCA, securities firm Jefferies selects Markit for transaction cost analysis software
Profiling bank risk DNA: Bcbs 239 infographicMarkit
The document discusses various reports and surveys related to banks' ability to aggregate, report on, and govern risk data as required by the Basel Committee on Banking Supervision's Principles for Effective Risk Data Aggregation and Risk Reporting (BCBS 239). Key points include:
- A 2013 BIS report found banks rated themselves higher on complying with risk reporting principles than risk data aggregation principles.
- A 2014 EY report found that only 6% of global systemically important banks could provide intraday firm-wide reports on risk profiles.
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- Financial institutions and digital security providers are increasingly taking a military approach to defending against cyber attacks through layered defenses. This involves implementing multiple defensive layers throughout the network like firewalls, routers, intrusion detection, and antivirus software.
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This article profiles Dr. Jacob Frenkel, chairman of JPMorgan Chase International, and discusses his views on current monetary policy trends. As a former central banker and head of the influential Group of Thirty, Dr. Frenkel is well-positioned to comment. He believes that central banks have become the dominant force in markets through trillions of dollars of unconventional monetary policies like quantitative easing. However, extremely low interest rates could create new financial bubbles and their exit strategies will be challenging. Overall, while unconventional policies were necessary, central banks must also consider their potential longer-term effects on markets and the economy.
The document summarizes key changes made in the 2014 International Swaps and Derivatives Association's (ISDA) credit default swap definitions. The changes aim to address issues highlighted by recent financial institution bailouts. A new "Governmental Intervention" credit event was added to trigger payouts when a financial institution is bailed out by government action. The changes also include provisions for asset package delivery to determine final auction prices and distinguish between senior and subordinated debt triggers. The 2014 definitions represent an industry effort to update rules governing CDS contracts in response to changes in how sovereigns and financial entities experience credit events.
Bank of England's Ragveer Brar's debates prudent valuation challengesMarkit
New rules will set out exactly how banks must adjust valuations of their fair valued financial instruments. Ragveer Brar, who leads the Bank of England's valuation and controls team, gives his expert view on what this means.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
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Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
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Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
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TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
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Talking business with private equity dealmaker Robin Saunders
1. A
BEAUTIFUL
THINGA poster child for Europe’s financial engineering boom a decade
ago, Robin Saunders now keeps a far lower profile as a private equity
dealmaker. She talks to Chris Blackhurst about securitisation,
WestLB and being a woman in a man’s world.
2. TALKING BUSINESS
9Winter 2014
R
obin Saunders has dislocated her elbow. She’s
sitting in the café of the new Serpentine
Sackler Gallery in London’s Hyde Park with
her right arm in a sling.
Saunders, 52, is in some discomfort, but she’s not
letting it get to her. There is a strong, irrepressible side
to this financier.
Given what has happened to her over the years, and
what she’s had to put up with, Saunders could be
forgiven for long having left the stage. After all, she is
not without wealth – she’s made more than enough
never to have to work again.
Saunders has done well to survive for another
reason. She shot to fame in the City 14 years ago,
putting together a series of dizzying, spectacular deals
for the likes of Bernie Ecclestone and Philip Green.
It’s fair to say that she was the poster woman of an
era, one that has since vanished. Plenty of her
banking rivals from that period, which now seems
like a distant age, have also departed. But here she is,
still striving, still doing the business. And, judging by
her grin, still enjoying herself.
She’s the founder and managing partner of
Clearbrook Capital Partners, a London-based private
equity firm. “We work with entrepreneur-led
companies, often founders, who have already built
businesses ranging from £20 million to
£2 billion plus. We marry our financial
markets expertise with their industry
expertise to accelerate value
appreciation, ideally when they’re on the
cusp of a wave of expansion but in some
cases when they’re simply seeking to
monetise their value,” she says.
Clearbrook generally invests up to
49% in a company with Clearbrook
partners joining the board. Clearbrook’s
“sweet spot”, Saunders says, is firms worth £50m to
£500m in a sector that is ripe for consolidation or
“roll ups”. “We’re looking for strong cashflows
underpinned by real assets such as property,
equipment, intellectual property rights or contractual
cashflows such as loans and mortgages,” she explains.
A typical Clearbrook transaction was an investment
in Harbourmaster Capital (Holdings) Limited,
subsequently sold to GSO/Blackstone. Clearbrook,
together with Lord Rothschild’s RIT Capital Partners
and Hutton Collins, purchased 49% of
Harbourmaster from its founders, Stewart Wilkinson
and Fabio Salvalaggio. Harbourmaster’s assets under
management increased from around €2 billion to a
peak of over €9 billion during the period of ownership.
Harbourmaster was sold to GSO/Blackstone in 2012.
Another typical transaction was completed in
August this year when Clearbrook completed on a
€400 million pool of capital from two hedge funds
for the roll up of petrol stations in Spain. The Spanish
management team will use the capital to acquire and
integrate individual family owned stations to build a
new, large and branded competitor in Spain. Other
industries in which Clearbook played a part in
consolidating include water and food testing
laboratories, pubs, asset management, power
generation and water supply.
Saunders is coy about Clearbrook’s backers, but
among them are wealthy families, hedge funds and
sovereign wealth funds. She’s also put in her own cash.
Saunders has never confirmed to stereotype. She
was born in North Carolina but brought up in
Jacksonville, Florida. She wanted to be a professional
dancer, but admits with a smile: “It wasn’t going well
and my father, who was a real estate entrepreneur,
said: ‘Why don’t you try investment banking?’.”
Somewhat bizarrely she managed to combine the
two, studying finance and dance at Florida State
University. Dance and the arts generally remain huge
passions. Saunders is heavily involved in raising
capital for the dance companies at Sadler’s Wells and
Rambert, as well as theatres including The Old Vic
and The Young Vic, the Serpentine and Sackler art
galleries, and a new building on London’s South Bank
backed by the Tate for emerging young artists.
She was married to banker Matthew Roeser and
they have twin daughters, Ella and Savannah. How
does she find the time? “I had my girls quite late in
my 30s and was lucky to have the 14 hour days
behind me. They’re 14 now, and my work-life balance
is much better.” Of course, juggling work and home
was once much more difficult. When she was advising
Ecclestone, Green and their ilk, her daughters were a
lot younger. It was part of the reason why she was
regarded as something of a phenomenon.
While she was still undecided about a career in
dance or finance, Saunders found herself “serving the
coffee to a bunch of junior analysts on a visit at
Lehman Brothers in New York City”. It’s easy to
imagine the sexism she must have encountered, but
Saunders is that rare breed: a woman succeeding in a
predominantly male world.
Has she been aware of sexist things being said about
her? “Absolutely. But, hey, I’ve also felt like I’m seen as
one of the guys. Sure, I was discriminated against but
I never let it get to me. I set my mind as to what I
wanted to do and just kept ploughing through it all
until I’d got there,” she says. “I believe the capital
markets arena is extremely competitive for all
participants, man or woman.”
The visit to Lehman opened her eyes to the
possibilities of banking. “I became hooked on the
excitement of big finance,” she explains. Saunders
joined Northern Trust Bank as a capital markets
management trainee, and her first specialisation was
export finance.
She shakes her head at the memory of it now.
“Many of my peers were from Ivy League schools and
several of their families owned banks,” she says,
describing it as somewhat intimidating. “But I held
my own at originating business.”
Then came Citibank, where she again worked in
Photography:HarryBorden
“I set my mind as to what I wanted to
do and just kept ploughing through it all
until I’d got there”
3. 10 Winter 2014
export finance. “In 1988 there was talk in the capital
markets of this new type of asset backed commercial
paper [ABCP]. I remember thinking this could be
big. It was regulatory arbitrage. Citi had quickly
rounded up about $9 billion in corporate assets, and
securitised them through CP conduits. From that, the
ABCP market alone developed into a $1.4 trillion
market,” she explains. Saunders purses her lips and
says drily: “It turned out to be a bit more than an
efficient capital mechanism for the bank.”
Twenty years later, during the financial crisis of
2007-8, ABCP conduits set up by Citi and other banks
fell victim to contagion from problems that stemmed
from subprime securitisation. But Saunders insists that
the early forms of securitisation were “a beautiful
thing”. Only much later would these innovations be
debased by declining diligence and integrity.
Saunders had always vowed to return to Europe,
having been on an educational visit when she was at
university. So in 1991 she transferred to London with
Citi. She was gripped with securitisation. “It was very
exciting. It was a big decision for corporates because
they were selling their assets and, to use the current
parlance, it was very disruptive at the time,” she says.
The notion of making waves with something that
was entirely innovative clearly appealed to her. “Sale
and leasebacks and securitisation of everything from
real estate to intellectual property rights and
inventory – they’re all taken for granted now but then
they were new structures to achieve a diversification
of funding sources and efficient balance sheet and tax
treatment,” she explains.
Citi was the market leader. “I was a junior on the
team but I’d had a lot of experience from doing
several deals in the US involving Coca-Cola bottling
plants, Ryder Truck rentals and several leveraged buy
outs,” she says.
Saunders found herself making presentations to full
boards. “Securitisation was a big decision for a
company, and they had to undergo a steep learning
curve before using it. Now this stuff is all common
knowledge,” she adds.
Among those seized by the new methods were the
sole proprietors like Ecclestone and Green. “They saw
immediately how it was possible to take something
out and use it to generate a lot more capital,” she says.
But it wasn’t just the entrepreneurs. Railways,
nursing homes and hospitals were just some of the
industries to realise that they had properties they
could sell to raise cash to fund expansion and the rest
of their operations.
Saunders was in demand. She left Citi for
Manufacturers Hanover, joining on the day the firm
merged with Chemical. That bank was later
swallowed by Chase, and she found herself running
the European securitisation group for the new owner.
Securitisation was not widely used in Europe in the
early 1990s. “I often found that corporations, big and
small, were run by a chief executive officer from a
marketing and/or engineering background. They
thought all this securitisation talk was hocus pocus. It
would take what seemed like an eternity to convince
them,” she says. “But they embraced it eventually as
history revealed.” In the meantime, a plan formed in her
head. “If I can’t convince the bods to do it, or they take
forever, maybe we should be buying their companies
ourselves and unlocking their value?” she says.
Saunders and her team left Chase for Deutsche
Bank. “But there were two different cultures
operating there,” she explains. “I had two bosses. One
was ex-Merrill Lynch and the other ex-Goldman
Sachs. The Merrill guy was all about league tables and
getting local credibility. The Goldman culture was all
about making money – which transactions produced
the best reward. It was so political. So we left, about
12 of us, and went to WestLB.”
It was an unlikely match: the
aggressive American dealmaker and
the conservative, then state owned,
bank from North Rhine-
Westphalia. She recalls one WestLB
board member, a man, saying:
“You’re a woman, you’re young and
you’re an American. How can you
possibly be successful in Europe?”
“It seemed a very blunt question, but I was asking
for an allocation of equity from the bank to carry out
our activities. As thoroughly as possible, I answered
the question and went on to explain that my goal was
to improve the ROE [return on equity] of WestLB
while adding enterprise value to their customers
through use of the debt capital markets. WestLB’s
return on equity was lower than they wanted it to be.
We agreed that my team would only get remunerated
with bonuses after the bank achieved a 15% return on
its capital,” she says, adding with a chuckle: “Everyone
thought, there I was getting access to cheap money
from WestLB but it was costing me 15% before I got
paid. It was my way of aligning my compensation with
their risk profile.”
Her title was head of asset backed securities and
principal finance. Many years earlier she’d turned
down Goldman Sachs, and left a number of other
global banks to opt for the little known German
landesbank. For the first time, she felt like her
interests were aligned with the bank’s and its
shareholders’.
Saunders is also someone who does not fit easily
into a traditional banking management structure.
She’s not a pure corporate financier nor a mergers
wizard – traditionally the top of the tree in corporate
finance departments – but a securitisation expert. She
likes to dream up new ways of making the assets
sweat, of using them as backing in return for an
injection of capital.
Saunders also likes the flexibility to move
ferociously quickly. She was at a cocktail party when
she overheard an Olivetti executive moaning that his
company needed €22.5 billion to launch a bid for
Telecom Italia. Within hours, Saunders was meeting
“You’re a woman, you’re young and
you’re an American. How can you
possibly be successful in Europe?”
4. 11Winter 2014
Olivetti’s chief financial officer and, soon afterwards,
she committed €2 billion.
In her gung ho, no nonsense American vernacular,
this deal was “blow-out financing”. It was unheard of
for anyone to get such an amount approved so
quickly.
She took on clients who were similarly
unconventional and aggressive, like Ecclestone and
Green. “I am a straight talking kind of person and so
is she,” said Ecclestone of Saunders. “It is refreshing
to meet someone like that in the City. I have not met
that many in the financial world. To me, they all seem
to think that they are beyond being touched and do
not need to keep their word.”
The feeling was mutual. Saunders says of Ecclestone
that it was “fascinating working with someone who
had built their business the way he did – with a series
of many bilateral but co-dependent
agreements”. It was the same with
Green. “He knows his business
better than anyone in retail. He’s
unbelievably savvy at structuring
deals, real estate and tax,” she says.
Saunders oversaw a slew of
audacious deals at WestLB:
Ecclestone’s refinancing; Green’s
bid for Marks & Spencer, then his purchase of Bhs;
Wembley Stadium’s rescue; the acquisition of Odeon
Cinemas; Pubmaster’s financing. Railtrack got away
as did BT’s fixed lines.
Jealous competitors in the financial community
were sharpening their knives and waiting for her to
fall. The crash duly came with Boxclever. It was one
of the least noteworthy or glamorous deals she’d
done: an $800 million capital raising for a TV rental
company.
Boxclever, jointly owned by TV company Granada
and Japanese investment bank Nomura, was the result
of a merger of Radio Rentals and Granada’s TV
shops. WestLB helped with the funding.
Unfortunately, TV sets were becoming ever cheaper
and the rental market was collapsing. Suddenly, in
2003, Boxclever could not meet its obligations, and
WestLB had to announce losses of £1.2 billion, much
of it due to the troubled British TV company.
The shock was enormous. WestLB was unused to
exposure and found itself under focus. Schadenfreude
was very much in the air as competitor banks and
colleagues turned on its star financier.
Saunders’ colleagues at WestLB were already
gunning for her. They’d become increasingly unhappy
at her high profile. A party she organised for her 40th
birthday and 10th wedding anniversary in 2002 was
said to have infuriated them.
The 180 guests, who included Ecclestone and
Green, as well as family and other friends, were flown
to Florence for the three day event, where they dined
in an historic palace and a 13th century church. Dress
code was “Italian medieval”. It was not an over the
top affair by City standards, but it was out of step
with WestLB’s traditional image.
All Saunders’ deals were put under the microscope.
She left and WestLB was subsequently criticised by
“I am a straight talking kind
of person and so is she,” said
Ecclestone of Saunders.
Saunders insists that
the early forms of
securitisation were “a
beautiful thing”.
TALKING BUSINESS
5. TALKING BUSINESS
12 Winter 2014
the German regulator for maintaining poor risk
controls. WestLB was later shut down completely, a
victim of the 2008 banking crisis.
“It was a long time ago, but nobody did anything
wrong on Boxclever,” she says. “It was one of those
freakish situations where the bottom fell out of the
industry. When the deal was signed I believe the total
financing was around four times Ebitda, so it wasn’t a
crazy multiple. What we hadn’t foreseen was that,
over the next two years, there would be a
breakthrough in technology and the price of flat
screen TVs fell through the floor. People stopped
renting TVs and the company could not reinvent
itself fast enough to compensate.”
A rescue of Boxclever could not be mounted in time.
“WestLB pulled the plug. Of course, a lot of people
were waiting for something to happen to me. There
was a media frenzy. A PR guy reported at the time that
there must have been 1,000 articles written about our
fate within a month of the announcement,” she says.
The irony was that Saunders was close to pulling
out her unit from WestLB. McKinsey had been
brought in by the bank in the previous year because
the board was worried that Saunders’ division
accounted for so much of the bank’s profitability.
McKinsey had been through everything in minute
detail, cleared everything, and the separation was
ready to go. Instead, her group was given a larger
allocation of equity to continue the business at
WestLB with oversight of the credit committee and
the board. “Nobody saw the demise of Boxclever
coming,” she says.
Saunders left the bank in 2004, having to keep an
eye on the German watchdog’s investigation that took
another three years. By the time she emerged from
that, blame free, the credit crunch was looming.
It was a lonely period. “People you thought were
your friends scatter to the winds. I remember going to
a cocktail party during that time and as I walked into
the room you could hear a pin drop: everyone looked
at me as if I were a ghost,” she recalls.
Saunders has been quietly building
Clearbrook ever since. Like many private
capital managers, Clearbrook does not
often advertise its investments or investors.
“Right now is the most exciting time
because there are numerous roll up
strategies around,” she says.
Saunders looks around. She was
instrumental in helping to bring the new
gallery to fruition, she loves the arts, her
girls are growing up, and Clearbrook is
humming. What’s not to like? Saunders
smiles. Only her elbow, and that will
soon clear up.
TALKING BUSINESS
“As I walked into the room you could
hear a pin drop: everyone looked at
me as if I were a ghost”