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Fintech firm Capitolis has secured $20 million in strategic investments from Citi, Morgan Stanley, State Street, and UBS, with each bank contributing $5 million. This funding will support Capitolis' growth in its Capital Marketplace and Portfolio Optimisation divisions, as the company aims to enhance the safety and dynamism of capital markets. CEO Gil Mandelzis expressed enthusiasm for expanding partnerships with leading banks to further strengthen financial markets.
UBS is enhancing its Miami downtown office by hiring four wirehouse advisors from Citi, Wells Fargo, and Truist, who collectively managed nearly $2 billion at their previous firms. This move signifies UBS's commitment to expanding its presence in the Florida wealth market.
Capitolis has secured $20 million in strategic investments from Citi, Morgan Stanley, State Street, and UBS, with each bank contributing $5 million. The funds will support growth in Capitolis’ Capital Marketplace and Portfolio Optimization businesses, enhancing its role as a key partner in financial market optimization. CEO Gil Mandelzis emphasized the company's commitment to making financial markets safer and more efficient, while State Street's Tobias Krause noted that additional bank investors will accelerate Capitolis' success.
Fintech company Capitolis has secured $20 million in new investments from Citi, Morgan Stanley, State Street, and UBS, with each bank contributing $5 million. This funding round adds to Capitolis's total of approximately $300 million raised since its founding in 2017, supporting its SaaS platform aimed at optimizing financial resources in capital markets. CEO Gil Mandelzis highlighted the company's growth and commitment to enhancing the safety and strength of financial markets through partnerships with leading banks.
The IT sector is poised for a turnaround, driven by cloud, data, and AI, with banking and financial services (BFS) expected to see revenue normalization by FY26 due to increased discretionary spending from US firms. Major banks are modernizing legacy systems, with Citi retiring 450 applications and Morgan Stanley experiencing double-digit tech spending growth. However, some institutions like Wells Fargo and TD Bank prioritize regulatory compliance, with TD planning to invest $500 million annually in upgrades by CY2026 following a significant fine.
Citigroup Inc. has received approval from Saudi Arabia to establish its regional headquarters in Riyadh. This development highlights the kingdom's ongoing efforts to attract more financial institutions to set up operations within its borders. The approval was granted by the Ministry of Investment Saudi Arabia, as noted in a memo to staff.
Starting December 1, Indian solar companies may face increased costs for key photovoltaic products due to a reduction in Chinese export rebates from 13% to 9%. This change could raise solar module prices by 0.02-0.03 yuan per watt, impacting project costs for developers who previously benefited from lower import prices. The Chinese government"s move aims to address overcapacity in the sector, which has led to bankruptcies and consolidations among manufacturers.
Citigroup Inc and Banco Santander SA are preparing a debt package of up to €4 billion ($4.2 billion) to support the potential sale of Urbaser SA, a Spanish waste-management company owned by Platinum Equity. The banks are advising on the sale process and providing staple financing to prospective buyers, with final bids expected in early 2025. Other financial institutions are also seeking to participate in the debt financing for the deal.
Citi anticipates that South African equities will rebound and outperform other emerging markets, driven by the new government"s pro-reform agenda aimed at fostering economic growth. Despite recent losses linked to the US election, a stable political climate and improved business conditions are seen as beneficial for the market.
Nifty futures indicate a positive start for Indian equities, reflecting a bullish trend in Asia. The selling pressure from foreign investors appears to be easing, and automakers reported a decent festive season, suggesting demand may not be as weak as previously feared.
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global banks invest in fintech firm capitolis to enhance capital markets
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10:46 26.11.2024
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21:51 25.11.2024
capitolis secures 20 million investment from leading global banks
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capitolis secures 20 million investment from leading global banks
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04:16 25.11.2024
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citi and santander prepare four billion euro debt for urbaser acquisition
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20:38 19.11.2024
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