Finserv Reading - Week ending August 20, 2023

Banking

Goldman Sachs CEO David Solomon retains board and investor backing amid internal backlash

In defense of David Solomon

US banking safety net has proved its value

Big banks are supposed to fail without causing panics. Is that even possible?

Buffet-backed Nubank posts record revenue on strong user growth?

Mobile banking apps disappoint small businesses

US bank stocks fall on prospect of tougher oversight, more downgrades

Monzo on top of banking satisfaction rankings

Banking as a service: The role of banks in powering the fintech industry

Shadow money without a central bank

Nasdaq faces worst week since regional banking crisis

3 ways banks can navigate the commercial real estate slump

As rates rise, Japan is wary about Silicon Valley Bank sequel

Why banks are making loans harder to get right now


Wall Street

Technology stocks suffer as real yields hit 14-year high

Bond yield hits highest since 2008, adding pressure to borrowing costs

China is becoming more trouble than it's worth for US investment banks

The countdown to T+1 settle

Surge in zero-day options sparks fears over market volatility


Economy?

Strong US economy forces investor rethink on interest rates

What's holding back India's economic ambitions?

Investors fear China's Lehman-moment is looming

The first cut is the hardest

Zambia's plan to dig its way out of debt with a copper revival


Asset Management

Fund managers grow more gloomy over outlook for European stocks

Not all asset managers can handle the responsibility of direct lending

US hedge funds dumped shares of Chinese companies in Q2

Blackrock's Rieder highlights economic shift from carburetors to compilers

Cohen's Point72 cuts Broadcom, Meta, Google to push into Microsoft, Nvidia and Micron


Wealth Management??

Edward Jones to offer banking services

Three strategies to keep the next generation of clients

Wealth management clients need more than tech from banks

Schwab says TD Ameritrade deal spurring retail, advisory attrition


Insurance

Wildfires and thunderstorms are throwing insurance market into turbulence

Navigating the insurance talent crisis for a resilient future

How insurers can boost underwriting with quality data

Why the UK is an insurtech powerhouse primed for expansion

Diminished insurtech appetite lowers insurance M&A


Real Estate???

Better.com plans to go public through SPAC merger

US mortgage rates jump to highest level since 2002

WeWork announces 40-1 reverse stock split to retain New York listing

Chinese developer Evergrande files for US bankruptcy protection

Why Wall Street is gung-ho on the housing market

Wall Street is ready to scoop up commercial real estate on the cheap


Payments?

Amazon expands flex payment options for Amazon Pay

Visa faces DoJ probe for how it prices tokenization technology

Dan Schulman took PayPal to new heights. He's having a bumpy landing.

Adyen H1 results wipe EUR 12 billion off market value

How the US financial sector is embracing digital transformation in payments

Discover CEO Hochschild quits

Credit cards balances hits new peak

PayPal names Intuit executive Alex Chriss as its next CEO


Venture Capital / Private Equity

Canadian fintech investment plummets

Venture capital funds are mostly just wasting their time and your money

TPG approaches EY about buying stake in consulting arm

6 fintech investors sound off on AI, down rounds and what's ahead

UK launches GBP 1 billion fintech growth fund to compete with Silicon Valley


AI / ML

Leveraging AI in electronic trading: A game changer for investment banks

People may be more trusting of AI when they can't see how it works

The AI wave will only benefit smart stockpickers

AI expert Max Tegmark warns that humanity is failing the new technology's challenge

The skeptical case on generative AI

Reskilling in the age of AI


ESG / Climate Change

Trends in carbon?markets

How climate adaptation can both protect and grow your business

Climate change is coming for a Chesapeake Bay island. Is it worth saving?

A progressive's case for getting rid of 'ESG'

China's nickel plants in Indonesia created needed jobs, and pollution

How geopolitics is complicating the move to clean energy

The Panama Canal has become a traffic jam of the seas

How investors are underpricing climate risks

Inside the $220 billion American cleantech project boom

The clean energy future is arriving faster than you think

KKR strengthens global climate strategy with Gailliot as co-head

Climate change was on trial in Montana

How climate change drives heatwaves and wildfires in Europe

Cities are better at battling climate change


Bigtech?

Punishing big tech for their successes

How big tech broke smaller-company investing

Google vs the DoJ is a test case for reining in big tech

The value investors buying big tech stocks

Dominance of big techs in financial sector

NCR expands through separation into 2 companies


Fintech??

5 mortgage fintech developments in the news

The rise of fintech super apps: In-depth analysis

AI, efficiency and all things fintech in 2023: A Q&A with the CEOs of Adyen, SoFi and Wise

Central banks need to embrace fintech


Blockchain / Crypto?

PayPal UK to halt crypto purchases until 2024

Bitcoin shaken out of lull by SpaceX sale worries

Small crypto exchanges take advantage of Binance's decline

Has Binance blown its chance to rule the crypto markets?

How PayPal upended the crypto debate in Washington DC

UK to put magnifying glass on crypto transfers

Asia promotes crypto clarity amid regulatory uncertainty in the US

Institutional 'land grab' for crypto

Goldman's patent aims to bring fractional banking to crypto, DLT


Regulation / Compliance??

When tackling crypto, the SEC should be wary of overreach

SEC lawyers subpoena fund managers over ESG disclosures

US regulators tro to consign emergency fire sales to history

SEC cyber disclosure rule opens can of worms over insurance coverage

Hedge funds prepare legal battle with SEC over fee disclosures

FDIC to propose comprehensive changes to regional US bank living wills


Corporate Venture / Innovation?????????????????????

A new approach to strategic innovation

Enterprise architects: Friend or foe of corporate innovation

Rethinking governance for digital innovation

The art of creative leadership: 4 ways to cultivate innovation in your team


Personal Development / Leadership?

How to make a compelling pitch

How to shine when you're put on the spot

All success is a lagging indicator

12 extraordinary stoic moments

How experts figure what to focus on

How to stay focused when you get bored working toward your goals

The ultimate deliberate practice guide

The 'world's happiest man' shares his three rules for life

Why bosses must take time to learn from failure


Podcasts / Videos??

3 ways to build critical-thinking skills

The future: Markets, AI and climate change with Jeremy Grantham

Prof Scott Galloway: With Aswath Damodaran on Nvidia valuation and AI's negative sum game

Think fast, talk smart: Shut up! How to communicate better by talking less

Stanford GSB: "How to live an asymmetric life" - Graham Weaver


Speeches / Communications

Rohit Chopra, Director of CFPB: "Protecting Americans from harmful data broker practices"

Federal Home Loan Bank NY - President's Report


Research Reports??

Bain: Customer behavior and loyalty in banking - 2023

DB: Bye bye cash, hello digital payments

Private equity's carbon footprint

Connectedness between CBDCm, financial stability, and digital assets

The case for wholesale CBDC architecture

OW: Keeping up with generative AI in insurance

McK: Private equity investments in tech services - Three considerations

McK: Tokenization - A digital asset deja-vu

Bain: The road to net zero with your core business

Models or measures of climate change - Why does it matter?

PwC: The digital personal data privacy act?- India 2023

PwC: Crypto Regulation

S&P Global: 2023 Global Trends in AI

Creating the next generation of payment rails

Deloitte: The human rights imperative for banks

Deloitte: Asset management - An industry rearranged

Deloitte: 2023 Gen Z and Millennial Survey

UBS: Global Wealth Report 2023

CBDC, financial stability and central bank reliance

Ogilvy: Creativity, business and society in the age of AI

FDIC: Risk Review 2023

EY: NextWave of Consumer Financial Services

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