Global money managers are seeking to hire talent with experience in defined contribution plans as DC assets grow substantially. Recent changes in the UK retirement market have increased the focus on DC plans and highlighted the need for strategies tailored to DC "lifers". Firms are hiring people from insurance companies and those with expertise in DC from other countries to help distribute products and develop solutions for DC plan participants and advisers in this increasingly important market.
Steve Dow, partner at Sevin Rosin Funds in Dallas, told the New York Times in 2006 that “the VC model is broken.” A recent survey from executive search firm Polachi Inc. polled more than 100 venture capital executives, 70% of which were partners or managing partners. It found that a majority, 53% of respondents, indicated the venture capital industry is “broken.” With a less than receptive IPO market and the credit markets tightening down on M&A activities, VCs are finding few exits for their existing investments. PE shops are faced with refinancing over $300 billion of LBO debt over the next two years. Endowments and pension funds that serve as the limited partners firms are reassessing their investment in the entire asset class and are hamstrung by the denominator effect. Will this funding gap affect the US’ ability to develop new technologies and create new jobs? Many ask, “Why aren’t there more Googles” and “What will be the next big thing?” Personal computers were the catalyst in the 1980s, the internet was the catalyst in the 1990s and social networking has been a catalyst in recent years, but what will be the growth driver in the next decade? With this background, this presentation will discuss the golden years of private equity, the current environment and what the future holds for this industry and entrepreneurial activity.
Steve Dow, partner at Sevin Rosin Funds in Dallas, told the New York Times in 2006 that “the VC model is broken.” A recent survey from executive search firm Polachi Inc. polled more than 100 venture capital executives, 70% of which were partners or managing partners. It found that a majority, 53% of respondents, indicated the venture capital industry is “broken.” With a less than receptive IPO market and the credit markets tightening down on M&A activities, VCs are finding few exits for their existing investments. PE shops are faced with refinancing over $300 billion of LBO debt over the next two years. Endowments and pension funds that serve as the limited partners firms are reassessing their investment in the entire asset class and are hamstrung by the denominator effect. Will this funding gap affect the US’ ability to develop new technologies and create new jobs? Many ask, “Why aren’t there more Googles” and “What will be the next big thing?” Personal computers were the catalyst in the 1980s, the internet was the catalyst in the 1990s and social networking has been a catalyst in recent years, but what will be the growth driver in the next decade? With this background, this presentation will discuss the golden years of private equity, the current environment and what the future holds for this industry and entrepreneurial activity.
08467 thought leadership_marine_sector_v14White & Case
Restructuring & Beyond: The marine industry’s routes to safety
Survival strategies and new opportunities for companies, banks and investors
in the marine sector
Here you can find everything you need to know about the UK's financial services sector, including the latest house price, base rate, inflation and unemployment figures.
08467 thought leadership_marine_sector_v14White & Case
Restructuring & Beyond: The marine industry’s routes to safety
Survival strategies and new opportunities for companies, banks and investors
in the marine sector
Here you can find everything you need to know about the UK's financial services sector, including the latest house price, base rate, inflation and unemployment figures.
1Running Head Case Analysis Assignment #2 ContiGroup Inc.PA.docxfelicidaddinwoodie
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Running Head: Case Analysis Assignment #2 ContiGroup Inc.
PAGE
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Case Analysis Assignment Citigroup Inc.
Introduction
Citigroup Inc. was founded in 1812 by Samuel Osgood in New York City. To this day, the organization’s headquarters remain in its initial foundation however, the company has grown from its humble beginnings of a mere 2 million dollars in assets to a market capitalization of 162 billion dollars as of 2014. (David & David, 2017). Operating in more than 160 countries with over 900 million retail accounts and more than 250,000 employees in total, Citigroup is currently known as the “world’s largest credit card issuer and largest banking enterprise” (David & David, 2017). However, Citigroup has faced significant issues in terms of how it has been perceived by the US government, specifically regarding the bailouts and ethical issues surrounding the implications of Citigroup’s actions on the overall worldwide economy.
Mission Statement
Citigroup’s current mission statement has been defined as follows, “Citi works tirelessly to serve individual, communities, institutions and nations. With 200 years of experience meeting the world’s toughest challenges and seizing its greatest opportunities, we strive to create the best outcomes for our clients and customers with financial solutions that are simple, creative and responsible. An institution connecting over 1,000 cities, 160 countries and millions of people, we are your global bank, we are Citi” (David & David, 2017). Overall, this mission statement seems to be very detailed and effectively structured, as it outlines the reach of the organization as well as their accumulated experience and the sheer scale, number of employees and customers. However, perhaps what is missing from this statement is the concept of the causes that Citi cares about and what they are dedicated to/how they define themselves.
New Mission Statement
The new mission statement has been developed as per the textbook format (David & David, 2017). Citigroup serves a global (3) customer base, in over 160 countries (1). We provide “global banking, advisory services, derivative services, brokerage, mortgages and auto loans” (2) (David & David, 2017). Citigroup employs over 250,000 people and continuously invest in their career development and ensure that they provide the best services to our customers (9), representing values of professionalism and care (7)(6). At Citigroup, we are constantly innovating, leveraging technology (4) and striving (5)(6) to “create the best outcomes for our clients with financial solutions that are simple, creative and responsible” (David & David, 2017) (8).
Vision Statement
Currently, Citigroup does not have a defined vision statement (David & David, 2017).
New Vision Statement
Citigroup’s vision is to leverage our 200 years of experience to create and develop industry-leading, revolutionary and innovative financial solutions for our clients around the world.
SWOT Analysis
...
The financial crisis was tough on asset-backed lending funds, and a spate of redemptions saw the space shrink considerably. But the launch this year of a new $1bn fund from FrontPoint Partners suggests that direct lending and ABL is making a comeback, and, due to the restrictions of Dodd-Frank, the space offers a wealth of opportunity for smaller niche players.
What's happening to London Compliance jobs in 2018?Morgan McKinley
Learn about the Compliance jobs market in London, find out the views of European Head of a leading Compliance Certification Association and get advice from a specialist Compliance recruitment consultant.
Page Executive / Michael Page Front Office Banking & Asset Management Salary ...Tara Bagley
Our 2016 London salary survey is complete. Please contact us if you have any questions regarding our findings and we look forward to working with you in 2016.
After a flat year in 2012, the private equity industry faces an intensely competitive deal-making environment worldwide, an overhang of aging assets waiting to be sold and challenging fundraising conditions in 2013. But as we discuss in this report, private equity is also poised to capitalize on robust debt markets, a likely resurgence in corporate M&A activity, signs of a recovery in IPOs and the solid support of institutional investors that remain as committed as ever to the asset class.
This report provides a timely look at every major aspect of private equity, with fresh data and insights from surveys and interviews with leading industry insiders. We also bring to bear the experience and judgment that Bain & Company derives from its unparalleled position as the leading adviser to the private equity industry and its stakeholders.
Similar to U.k. firms are looking for new talent pensions and investments_Plenum (20)
Too many firms have experienced a search firm that charged extortionate retained fees and delivered nothing in return.
So is there a better way to approach this?
Some notable moves in the insurance and pension de-risking market, including fiduciary management, pension buyout, liability driven investment and multiasset solutions.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
U.k. firms are looking for new talent pensions and investments_Plenum
1. 04/11/2015, 11:18U.K. firms are looking for new talent - Pensions & Investments
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Simon Dawson/Bloomberg
Martin Gilbert believes people with insurance experience understand DC.
This copy is for your personal, non-commercial use only. Reproductions and distribution of this news story are strictly prohibited.
U.K. firms are looking for new talent
Seeking staff & ideas to help generation of DC "lifers' in retirement
By: Sophie Baker
Published: November 2, 2015
Global money managers are scrambling for the
talent and strategies that will work for defined
contribution “lifers” — those with only DC plans
to provide income in retirement — and with a
particular focus on the ever-changing U.K.
market.
While this re-emphasis on DC also stretches to
the U.S. and Australia, recent changes to the
U.K. retirement market in particular have
tripped up some money managers and made
them realize they need to do more to continue to
be relevant in the next phase of the retirement
market.
The U.K. has undergone what sources called a
revolution. There is no longer a requirement for
DC participants to purchase an annuity to
provide income in retirement; the government is
promoting “freedom and choice” for DC participants; a fee cap of 75 basis points has been introduced for DC default
strategies; and automatic enrollment now is widespread among workplace plans following 2012 reforms.
As part of that, and particularly in relation to the increased freedom and choice of participants, money managers are
having to come to terms with what sources in money management said is the “retailization” of retirement.
“The war for talent is raging in the DC sector at the moment, not just in the U.K. but globally,” said Paul Battye, London
and Leeds, England-based CEO at executive search firm Moorlands Human Capital Ltd. “Our clients from the U.K., U.S.
and Australia are fighting hard to ensure they have the best people in place ... (to) remain ahead of the game.”
In 2015 alone, money managers around the world created several new roles focusing on DC, including Legal & General
Investment Management, Allianz Global Investors and Aberdeen Asset Management in the U.K. and Capital Group and
Northern Trust Asset Management in the U.S.
Other executive search firms have seen a similar increase in demand for DC experience.
“The DC talent pool remains small and with these increased requirements, we would anticipate compensation levels rising
for DC specialists as this mismatch between supply and demand plays out,” added TC Jefferson, senior consultant in
London at Plenum Group.
2. 04/11/2015, 11:18U.K. firms are looking for new talent - Pensions & Investments
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DC nearly 50% of market
Defined contribution assets in aggregate now represent nearly half (46.7%) of all retirement assets combined in the six
largest retirement markets: Australia, Canada, Japan, Netherlands, U.K. and U.S.
Australia has the highest proportion of DC assets to DB, at 85%, followed by the U.S. with 58%. The U.K. ranks third, with
DC plans accounting for 29% of total retirement assets.
“Another reason we are seeing hiring increases is that, we could argue, institutional (business) looks somewhat
homogenous across the globe,” said Justin White, Darien, Conn.-based partner at Casey, Quirk & Associates LLC. “But DC
from country to country, and system to system, looks very different. You might have a global head, but what it will take to
succeed takes much more local knowledge and relationships. I think (this trend of hiring) is an attempt to get more
knowledge and specialization into at least the distribution side of things.”
The distribution point is key, particularly in the U.K., making executives with experience in areas such as insurance
companies a target for talent acquisition.
“Money managers had ignored DC, because we had DB,” said Martin Gilbert, CEO at Aberdeen Asset Management in
London. “Now we are all scrambling for it. We have to really get to know the DC market now. I think asset management
generally has been slow in strategically working out how it is going to do that; we are no exception. A large part of our
strategy at the moment is taken up with how we are going to look at the DC market.
“We are trying to get the distribution and strategy guys to really take on people that understand the DC market, perhaps
from an insurance company background,'' Mr. Gilbert said. “They are definitely more tuned into the DC market, and have
been for a number of years.”
Major focus
“It is no big surprise (that DC) is a place where we have been getting a lot of questions from firms,” added Mr. White of
Casey, Quirk. “There are two reasons: the bigger picture is (that) asset managers (are) recognizing that growth is slowing,
and particularly in core institutional markets. As a result we have firms asking themselves, "Where is the next wave of
growth? Where can we enter and quickly gain share?'”
He said some firms had focused on DC's adjacency to DB: “In a lot of ways, large-end DC looks and feels like DB — it is
driven by professional buyers like consultants and sponsors, is structured around RFPs for strategies. ... But what we are
hearing is, yes, there is adjacency, but in many ways (DC) is a very different market. The packaging is somewhat
different.”
While DC has, of course, been on the agenda for some money managers for years, one reason for the recent surge is that
some firms have “started to stumble a bit,” he said. “You can't just take (the) current distribution force and products and
put (them) into this new market. It takes more focus, hiring people with real expertise in DC, to succeed here,” said Mr.
White.
That is common across the three largest DC markets. “What (managers) often do not see is that limited understanding of
product complexity drives many plans and customers to revert back to the smallest common denominator they
understand: fees,” said Josef Pilger, Sydney-based global pension and retirement leader at EY. “I call that self-imposed
commoditization. The underlying message (is) managers must become truly client-centric in product and delivery or face
further fee pressure, commoditization and asset management insourcing of plans.”
Return to retail
“One way we are thinking about the growth of DC is in terms of the redevelopment of a retail market in long-term
savings,” said Gregg McClymont, London-based head of retirement savings at Aberdeen Asset Management. The former
shadow pensions minister was hired by Aberdeen in July as part of its push further into DC.
“In DC the relationship with the individual looms larger since ... (the participant) carries the investment risk. The new
pensions flexibilities (in the U.K.) encourage further this focus on the individual saver,” Mr. McClymont said.