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Affirm Holdings Inc. has expanded its partnerships with J.P. Morgan Payments and Adyen, enhancing its payment options for U.S. merchants and increasing its market reach. Goldman Sachs maintains a Buy rating with a $56 price target, while BMO Capital Markets projects a recovery path with potential earnings growth by 2027. Despite a 46% year-over-year revenue increase, Affirm remains unprofitable, facing challenges from competition and regulatory risks.
Thomas Burri has been appointed as the Head of Private Wealth Management at ODDO BHF (Schweiz) AG, bringing over 20 years of experience from UBS and Credit Suisse. His expertise will support the firm's ambition to expand its PWM business in Switzerland, alongside Asset Management and Investment Banking.
France is set to reopen its 0.95% July 2043 inflation-linked bond, hiring banks for a syndicated tap. The transaction will proceed based on market conditions, with BNP Paribas, Citi, Credit Agricole CIB, J.P. Morgan, Morgan Stanley, and Societe Generale serving as joint lead managers.
Vikram Sahu, currently leading global equity research at Bank of America, will become the new country executive and CEO for India, succeeding Kaku Nakhate, who has served for 15 years. Sahu will relocate from New York and assume his role pending regulatory approvals, overseeing the India leadership team and strategic growth plans. Nakhate will shift her focus to client relationships while continuing as CEO until Sahu's appointment is finalized.
UBS is increasingly worried about the potential for a foreign takeover, which executives view as a greater threat than relocating its headquarters due to regulatory pressures. The bank holds significant underutilized capital, making it an attractive target for US firms if capital requirements rise sharply. Relocating would incur substantial tax costs, potentially up to 10 billion francs, and could risk client withdrawals, undermining its business model centered on wealthy clients.
UBS is increasingly worried about the potential for a foreign takeover rather than just relocation due to tightening regulations. With capital requirements possibly rising by 50%, UBS's share price could drop significantly, making it an attractive target for U.S. banks. A move abroad would incur substantial tax costs and could risk losing wealthy clients who value the Swiss banking model.
FreshBooks has appointed Shaheen Javadizadeh as its new CEO following a $125-million USD debt financing from Morgan Stanley, aimed at refinancing existing debt and supporting growth. Interim CEO Mara Reiff transitions to COO after a period of leadership changes, as the company continues its pursuit of profitability amid financial challenges.
A former Wells Fargo Advisors broker, Marc W. Torres, has been ordered to pay $2.2 million for failing to repay upfront loans after leaving for J.P. Morgan in 2022. The arbitration panel ruled against his claims of breach of contract and awarded Wells Fargo the full amount sought, including attorneys' fees and costs. This case follows a trend where brokers rarely succeed in contesting promissory note claims, as seen in similar clawbacks by other firms.
A seasoned wealth manager at General Catalyst emphasizes the firm's lean tech stack, utilizing key platforms like Fidelity, GeoWealth, and eMoney, while fostering innovation through collaborations with startups like Powder. With a focus on organic growth and cultural fit, the firm aims to build strong connections within the wealth management ecosystem, avoiding acquisitions unless they align perfectly with their values. Currently, they have nine advisors and are committed to enhancing their technology integration for seamless operations.
BNP Paribas announced that no stabilisation was carried out for the EUR 500 million senior unsecured notes issued by Elior Group S.A. The offer price was set at 100, and the securities are not registered under the U.S. Securities Act, prohibiting their sale in the United States without proper registration or exemption.
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affirm partners with j p morgan and adyen to enhance payment options
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20:26 25.03.2025
Thomas Burri appointed Head of Private Wealth Management at ODDO BHF
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07:40 25.03.2025
france plans syndicated tap of july 2043 inflation linked bond
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11:28 24.03.2025
vikram sahu appointed as new ceo of bank of america india
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08:28 24.03.2025
ubs faces takeover fears and relocation concerns amid regulatory pressures
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03:06 24.03.2025
ubs faces takeover fears amid relocation rumors and regulatory pressures
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09:19 23.03.2025
FreshBooks appoints Shaheen Javadizadeh as CEO amid new debt financing
Canadian Dollar
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Mara Reiff
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21:14 21.03.2025
wells fargo recovers 2.2 million from former broker in arbitration ruling
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Ameriprise Financial, Inc.
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Marc Torres
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17:38 21.03.2025
building organic growth in wealth management through strategic partnerships and technology
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First Republic Bank
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Samir Kaji
David Blundin
Hemant Taneja
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19:46 10.02.2025
Elior Group issues 500 million euros in senior unsecured notes without stabilisation
Euro
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BNP Paribas SA
BBVAMRF A
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11:59 27.01.2025
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