Finserv Reading - Week ending October 15, 2023

Banking

Ally CEO to step down

LendingClub cutting 14% of workforce as interest rates pressure marketplace

Santander prepares $250 million expansion of investment bank

US banks ponder end to bumper profits from higher interest rates

Metro's woes bare how current bank rules can distort competition

Big banks say trouble is coming, but their earnings are still strong

America needs to support its small banks

How banks' deposit pressures could get worse

Goldman Sachs agrees to sell lender GreenSky, warns of earnings hit

Rising interest rates curb lending growth for big US banks

Largest US banks grapple with worst write-offs in three years

Post-merger Umpqua updated its identity and retained brand equity

How UBS's $3.3 billion Credit Suisse deal spawned $9 billion of legal claims

Citigroup to sell China consumer wealth business to HSBC


Wall Street

US stocks rise after Fed signal interest rate pause

The strange death of corporate Britain

Automation a key theme in fixed income

Banks target new frontier in bond trading fight: ETFs


Economy?

A soft landing in the US could be hard for everyone else

US consumers sharply raise inflation expectations in October

How rising conflicts is reshuffling global supply chains

The global economy is resilient but limping


Asset Management

JPMorgan promises its fundamental portfolio managers an AI 'co-pilot,' not a boss

Hedge funds would have to tell SEC which companies they sell short under new rules

Stockpickers hold out hope that the tide is turning in their favor

Blackrock open to 'large transformational M&A'


Wealth Management??

How retail investors value ESG and frame sustainable investment strategies

Trading stocks loses its thrill: "I would get burned"

Odey to close wealth management business

More Goldman Sachs PFM advisors leave

What are most wealth management firms missing


Insurance

Sun Life CEO: digital and wealth drive 'will change how we look '

The vital role of insurtechs in fighting climate change

New York Life names chief data, analytics officer

Omnichannel engagement approach boosts policyholder retention


Real Estate???

Miami's rental market rollercoaster is headed downhill

Office space vacancies in US and London reach at least 20-year highs

Elevated mortgage rates push housing sentiment even lower

The housing market looks like a bubble, 2008 regulator says

Large US life insurers feel impact of commercial real estate concerns


Payments?

Banks are taking their time adopting FedNow, a faster way to send money

Wise shares up as profit guidance hiked

Why digital wallets are at the heart of payments innovation

Cash use falls as instant payments gain ground: McKinsey

Late payments push 64% of CFO's to modernize accounts receivables


Venture Capital / Private Equity

Can private equity meet public responsibilities?

Warburg Pincus surpasses target to close $17 billion private equity fund

JPMorgan launches Private Markets Fund

Private equity exits sink to one of lowest points in over a decade

Blackrock to launch ESG-focused private credit fund


AI / ML

Generative AI deployment strategies for smooth scaling

Generative AI throwdown: Open source vs proprietary models

Adobe may be techs biggest AI bet yet

How the AI landscape has shifted over the past year

Navigating ethical AI and the future of automation

How AI can address climate change and nature related risk in fintech


ESG / Climate Change

US considers dropping sanctions against Israeli billionaire in push for EV metals

Copper producers warn of lack of mines to meet demand for metal

Franklin Templeton takes a sustainable step with new ESG fund launch

I study climate change. The data is telling us something new.

In Provence, winemakers confront climate change

Companies face new rules over climate change

Climate change the 'most common' reason for portfolio exclusion

Time to kill off 'net zero'

OPEC warns net zero push endangers global energy security

ESG Roundup: Market Talk

ESG's... Ok

Is passive the answer to ESG investing


Bigtech?

Cloud busting will mean a messy time for tech regulators

Billionaire bets that a $12 4G phone can get more of India online

Big tech struggles to turn AI hype into profits

Tech spend, AI fuel JPMorgan's fight against big tech giants

Microsoft owes the IRS $29 billion, but it's refusing to pay


Fintech??

Upvest raises EUR 30 million and secures deal with Blackrock

Synapse lays off 40% of workforce after major client defects

How fintech is transforming the finance world

Creating a fintech blueprint for financial institutions

Fintechs face buy or build decision to get into banking


Blockchain / Crypto?

SBF's emerging defense strategy may soon become clear

Why the US Government has $5 billion in bitcoin

G20 adopts IMF-FSB synthesis paper on crypto regulation

Ferrari to accept crypto as payment for its cars in the US

Crypto venture funding drops 63% in run-up to FTX

Crypto is still the wild west almost a year after FTX collapse

Where does crypto go from here?

The crypto economy's big hope is already in crisis


Regulation / Compliance??

FCA fines Equifax GBP 11 million for major consumer data breach

Gary Gensler urges regulators to tame AI risks to financial stability

US agencies broaden crackdown on 'junk fees'

FTC proposes rule to ban junk fees

Navigating the patchwork of US privacy and cybersecurity laws

The evolution of market regulation

US regulators vs. Big tech


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

Rethinking corporate incubation: The power of the innovation pipeline

Sony launches Sony Innovation Fund: Africa

How to build (and spot) a great corporate accelerator?

Fueling interdisciplinary innovation with AI: Volvo's Anders Sjogren

How Mastercard invests in domestic and cross-border payments


Personal Development / Leadership?

Life comes at you fast. So you better be ready.

All you need are a few small wins every day

The "chosen ones" choose themselves

If you commit to nothing, you'll be distracted by everything

Understanding and overcoming FOBO (Fear of Better Options)

A new approach to writing job descriptions

It's prime time for bosses to pay attention to Deion Sanders


Podcasts / Videos??

A conversation on life, lessons, and leadership with David Rubenstein

Think fast, Talk smart: How to write to capture busy readers

Marc Andreessen: It's time to write

Tim Ferriss: Arnold Schwarzenegger on thinking big, building resilience, 7 tools for life?

Mohammad Al Gergawi in a conversation with Elon Musk


Speeches / Communications

Paolo Angelini, Dep. Gov. at Bank of Italy: "SMEs and the climate and environmental transition"

Steven Maijoor, Exec. Dir. of Supervision, Netherlands Bank: "Crypto-assets regulation - from patchwork to framework"


Research Reports??

Deloitte/ServiceNow: Thriving amid financial services disruption

BCG: Ten lessons from 20 years of BCG's M&A report

Brookings: Measuring US supply chain reliance

KPMG: Future of supply chain report

CitiGPS: Technology at Work

JPMorgan Asset Management: The transformative power of generative AI

Lazard: Outlook on Europe - October 2023

S&P: Private Equity Outlook 2023

Pitchbook: 3Q2023 Venture Monitor

Deloitte: Novel and exponential technologies in finance

SVB: Future of fintech 2023

Temenos: Byte-size banking

FIS: Global Innovation Report

McK: The Great Banking Transition

S&P: Global AI in Banking

CitiGPS: Africa - A New Growth Model

JPM: Wired Payments Unbound

BNYMellon: Emerging Payments

Deloitte: India's Digital Dominance

Deloitte: Commercial Real Estate Outlook 2024

Consensus: Finding a new way forward for crypto, Web3, and digital assets

IIF: The role of financial sector in the net zero transition

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