Bank Agent – Left Bank http://left-bank.org/ Tue, 07 Sep 2021 19:42:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://left-bank.org/wp-content/uploads/2021/07/icon-2-150x150.png Bank Agent – Left Bank http://left-bank.org/ 32 32 The Recorder – Cohn & Company Hosts Quonquont Farm Networking Event https://left-bank.org/the-recorder-cohn-company-hosts-quonquont-farm-networking-event/ https://left-bank.org/the-recorder-cohn-company-hosts-quonquont-farm-networking-event/#respond Tue, 07 Sep 2021 19:05:46 +0000 https://left-bank.org/the-recorder-cohn-company-hosts-quonquont-farm-networking-event/ Posted: 7/9/2021 15:01:57 PM WHATELY – Cohn & Company Real Estate welcomes more than 60 realtors from Franklin and Hampshire counties for a Thursday night networking event at Quonquont Farm. The Greenfield-based real estate company is hosting the event to bring people together after a year of virtual events and to help agents navigate an […]]]>

Posted: 7/9/2021 15:01:57 PM

WHATELY – Cohn & Company Real Estate welcomes more than 60 realtors from Franklin and Hampshire counties for a Thursday night networking event at Quonquont Farm.

The Greenfield-based real estate company is hosting the event to bring people together after a year of virtual events and to help agents navigate an industry that has been supercharged by the pandemic. The event will take place from 5 p.m. to 8 p.m.

“We were talking about doing some type of event to raise awareness,” said Alaska Pinard, office manager for Cohn & Company. “It’s an opportunity after everyone has been very far apart and separated with COVID. … We wanted to organize this as an opportunity for people to meet again.

Participants are encouraged to “mingle and talk” after their arrival. Pinard said there will be a question-and-answer session with a panel of five “top of the market” agents, who will discuss recent trends in real estate and how to help buyers and sellers on the market. current market.

The panel will feature Mary Cohn of Cohn & Company, Susanne Newman of Bean Group, Don Mailloux of Coldwell Banker, Corinne Fitzgerald of Fitzgerald Real Estate and Clinton Stone of Property One.

“We thought it was good to not just have our own people there,” said Pinard. “They can give good advice.

Participants will also hear from the two main sponsors of the event, the Greenfield Cooperative Bank and the Academy Mortgage Corporation.

Pinard said it was a unique opportunity for realtors from all brokerages to meet. She added that they have received “a lot of good feedback” from the companies they have sent invitations to.

“We’ve never done anything like this,” Pinard said, “and as far as I know, no one else in the area has done anything like it.”

The event will feature different levels of COVID-19 health security protocols depending on the comfort level of each individual. Pinard said a tricolor sticker system is in place – green means comfortable with hugs and handshakes, yellow means nudging and red means keeping the distance – and participants will be invited to distance themselves socially when possible.

“We encourage everyone to distance themselves socially,” said Pinard. “All the tables in the room are 10 feet apart, so not everyone will be packed together.”

The networking event serves as a starting point for Cohn & Company’s push into organizing other events. The real estate brokerage firm affiliated with New Jersey-based ERA Real Estate in March. Pinard said part of the arrangement consisted of monthly meetings with ERA Real Estate, which encouraged Cohn & Company to hold such type of events.

“We will be running training seminars every quarter (for any agent who wants to register),” Pinard said. “These are more opportunities to dialogue with all the agents in the region. ”

Chris Larabee can be reached at clarabee@recorder.com or 413-930-4081.


Source link

]]>
https://left-bank.org/the-recorder-cohn-company-hosts-quonquont-farm-networking-event/feed/ 0
Point of sale boom: the new bank that pushed Union Bank to close branches and Standard Bank to stop building Nigeria news https://left-bank.org/point-of-sale-boom-the-new-bank-that-pushed-union-bank-to-close-branches-and-standard-bank-to-stop-building-nigeria-news/ https://left-bank.org/point-of-sale-boom-the-new-bank-that-pushed-union-bank-to-close-branches-and-standard-bank-to-stop-building-nigeria-news/#respond Fri, 03 Sep 2021 19:27:53 +0000 https://left-bank.org/point-of-sale-boom-the-new-bank-that-pushed-union-bank-to-close-branches-and-standard-bank-to-stop-building-nigeria-news/ POS transactions are the new banking format in the financial sector in Nigeria as banks shift investments towards the least costly enterprise Commercial lenders like Union Bank have closed some branches in Nigeria, while Standard Bank of Nigeria has stopped building more physical theaters. Tech startups have also benefited from the agent banking system introduced […]]]>
  • POS transactions are the new banking format in the financial sector in Nigeria as banks shift investments towards the least costly enterprise
  • Commercial lenders like Union Bank have closed some branches in Nigeria, while Standard Bank of Nigeria has stopped building more physical theaters.
  • Tech startups have also benefited from the agent banking system introduced by the Central Bank of Nigeria to increase financial inclusion

The first time Adejoke Oluwatobi came into contact with a point of sale (POS) trader was in the second half of 2012, six months after the Central Bank of Nigeria (CBN) launched the bank agent.

Oluwatobi had just arrived in Lagos, Nigeria’s commercial hub, where Operation POS was launched. He initially thought it was a merchant kiosk for a telecommunications company, as network providers were the first to roll out such an idea on the streets and highways.

Read also

Break: CBN Orders Banks To Release Names, BVN Of Forex Defaulters

As she glimpsed the kiosk from afar, Oluwatobi walked over to buy some airtime, but as the undergraduate got closer, reality began to draw over her and the words inscribed on her. the board store have become clearer – POS available.

Point of sale boom: the new bank that pushed Union Bank to close branches and Standard Bank to stop building
Union Bank, Standard Chartered and a point-of-sale merchant dealing with a customer. Photo: vchal / Getty Images / L, Union Bank of Nigeria / Facebook / TR, Standard Bank Eswatini / Facebook / BR
Source: UGC

The agent told Oluwatobi after investigation:

“We don’t sell a card here.”

It was a shock to her to learn that she can withdraw and deposit money outside of the bank’s premises without having to use the automated teller machine (ATM).

POS: The new banking system

The discovery of Oluwatobi has become a staple of Nigeria’s banking system, and is getting nowhere, if one relies on the numbers agents have recorded in recent years.

While merchant activity is slowly dying out in the telecom industry where it started due to technological advancements that now allow telecom operators to digitally sell airtime to customers, Legit.ng’s findings showed that the idea that is currently fading among telecommunications has become a gold mine in the banking sector.

Read also

Globacom at 18: Celebrating the Revolutionary Impacts of Nigeria’s Fastest Growing Telecommunications Company

Point of sale terminals are now being used as an alternative to bank rooms, and as banks double their penetration rate, they have slowed the establishment of branches and instead positioned bank agents in over-served and underserved areas in Nigeria.

The goal is to ensure that there is a mobile banking agent, owned directly or through a third party, in every nook and cranny of the country.

Data from the Nigeria Inter-Bank Settlement System (NIBSS) shows that approximately 307,000 PoS machines are in circulation across the country as of March 2021, with 167,000 declared active.

As the number of point-of-sale terminals falls below the CBN’s 2015 target of 440,000, banks are increasingly focusing on the agent bank to get the most out of it.

In August 2019, Union Bank said it had received regulatory approval to close some branches, in order to focus on agent banking and other digital channels.

“These more convenient banking channels will result in less reliance on some of our physical bank branches. In accordance with this, we have received regulatory approvals to close some of our branches as we continue to expand our digital. “

Read also

Four Nigerian startups and founders of Agric Tech who changed agricultural activity, empower more than 500,000 small farmers

The following month, Standard Chartered announced that it would no longer be opening branches across Nigeria, despite the limited number of physical meeting rooms in the country; 22 branches in Lagos, Abuja and Port Harcourt.

Standard Chartered Bank of Nigeria and West Africa CEO Lamin Manjang said investments will now, from 2019, be directed to digital banking.

Part of Manjang’s statement reads:

“We think the future of retail banking would hinge largely on digital channels. Quite frankly, if you look back 30 to 40 years ago and the role of the traditional bank branch, then look at the role of the traditional bank branch. ‘a branch today, you will realize that it is quite different.

“So the things that would usually take you to a bank branch are things that you can now do without visiting a branch. “

This new investment by banks will further hamper the growth of the bank-to-customer ratio in Nigeria, which is estimated at 4.3 branches per 100,000 customers.

Read also

Governor Okowo defends CBN crackdown on cryptocurrency, others

POS is the new cash cow for banks

As the CBN limits the charge rate for ATM withdrawals, banks looked for other revenue opportunities and found it in the point of sale business.

In December 2019, apex bank stated that for every wire transfer less than N 5,000, bank customers will pay N 10, while wire transfer of N 5,000 to N50,000 will incur a fee of N 25.

This implementation of fees was not sufficient for banks as the CBN reduced the fees for ATMs to N35 after the third withdrawal in a month.

Now most ATMs in banks are either cashless or have a network service to process withdrawals or other transactions – Gabriel Alabi, social media manager and web designer, thinks he is. This is an attempt by banks to force their customers to use point-of-sale terminals, as users pay N100 for each N5000 withdrawal, compared to ATM’s N35 for the third transaction.

At the height of the COVID-19 pandemic and lockdown in Nigeria, PoS transactions jumped 859%, according to Shared Agent Network Expansion Facilities (SANEF).

Read also

EFCC asks Nigerian banks to question their clients’ sources of income

Here’s the shock, according to Statista, between 2015 and 2019 there was a boom in point-of-sale payments, which rose from 34 million to 438.6 million, between the five-year period.

In addition, more than 655 million point-of-sale transactions, valued at 4.7 trillion naira, were completed in 2020 by Nigerian merchants and mobile money operators (MMOs), according to the NIBSS.

Tech startups are also getting milked from afar

While banks have reaped the benefits of point-of-sale, tech startups have also taken their part, as a mobile money operator.

Interswitch, Quickteller, and TeamApt are some of the tech companies that are playing the field with banks. The most recent is OPay, which focused entirely on payment in 2020 after the Lagos state government banned rental bicycle services.

OPay’s entry into the system was revolutionary, as the company’s growth in two years pushed its market valuation to over $ 2 billion.

The Nigeria-based startup partnered with a point-of-sale operator to access the market, which enabled it to process wire transfers to 80% of mobile money operators in Nigeria.

Read also

Imo state grounded as residents observe sit-at-home order

The Chinese company is also said to process 20% of Nigeria’s non-market point-of-sale transactions. OPay has been found to have monthly transaction volumes in excess of $ 3 billion.

The first to enter this space is Paga. Co-founder Tayo Oviosu once said that every minute 12 Nigerians solve their payment issues using Paga.

The company has more than 27,273 agent accounts, with more than 17.91 million euros – Paga is also heading for more than $ 1 billion in market valuation.

Point of Sale Boom: What Benefits for Nigerians?

Job creation

Ecobank Nigeria Managing Director Patrick Akinwuntan once said the company was able to employ 6,000 agents, an act it cannot do for its banking hall.

This employment campaign has brought banking services closer to underbanked Nigerian communities, as the country has 4.3 branches per 100,000 customers, which has transformed rural areas deprived of banking services.

The profit of the POS business between traders and banks is N 99.25 for the operator and N 0.75 for the financial institution.

Read also

PIA: Beyond the fanfare, the reservations – Opinion of Mon-Charles Egbo

Legit.ng understands that profit is made when clients make lower withdrawals like 2,000 N in five trades, than 10,000 N in one – this means for the latter 500 N will be made, while the big deal will only attract 200 NOT.

A point-of-sale operator, who identifies him simply as Chukwuebube, said that the smallest transactions earn him more. Chukwuebube said location is also important because more customers means more transactions – He said the business was profitable for him which is why he has more than three outlets.

Another point of sale trader, who identified himself as Adejumo Atunrase, being a bank agent has its advantage. While she was discreet about the volume of daily transactions, Atunrase confirmed the profitability of the company.

Atunrase said that with ATMs constantly down in her area in Ogba, residents of that area have no choice but to withdraw from her, and with limited competition around her, she is winning. a lot of money.

Read also

7 reasons Buhari could lose reelection in 2019

Easy access to banking services

Point of sale operators or bank agents were able to decentralize the banking system, increasing the rate of financial inclusion of the regulator, CBN, while paying a commission.

This is why banks no longer have to spend heavily on physical structures in rural areas, when they can simply station one or two agents in a community, and earn more on transactions than they will on walk-in services or ATMs.

The increase in the operation of points of sale has also put an end to the adventure of banks which install their ATM terminals in places far from their premises just to connect with their customers.

How eNaira will work: CBN gives the latest update to know Nigeria’s digital currency

The central bank is trying to introduce a new innovation into Nigeria’s financial system with the proposed launch of eNaira, Nigeria’s digital currency.

The CBN intends to use eNaira to replace the unregulated cryptocurrency that has become popular among Nigerians, but remains banned in the country.

It was concluded that the government backed digital currency is a non-interest bearing asset, so Nigerians cannot use it to hedge devaluation.

Source: Legit.ng


Source link

]]>
https://left-bank.org/point-of-sale-boom-the-new-bank-that-pushed-union-bank-to-close-branches-and-standard-bank-to-stop-building-nigeria-news/feed/ 0
Will Fox joins Bank of Blue Valley https://left-bank.org/will-fox-joins-bank-of-blue-valley/ https://left-bank.org/will-fox-joins-bank-of-blue-valley/#respond Tue, 31 Aug 2021 21:17:38 +0000 https://left-bank.org/will-fox-joins-bank-of-blue-valley/ Submitted Bank of Blue Valley (BBV) announced that Will Fox has joined the organization as Executive Vice President and Head of Commercial Banking. In his role, Fox will lead the commercial team as the team strives to help clients meet their full loan needs, boosting the efficiency of debts and receivables and other activities to […]]]>

Submitted

Bank of Blue Valley (BBV) announced that Will Fox has joined the organization as Executive Vice President and Head of Commercial Banking. In his role, Fox will lead the commercial team as the team strives to help clients meet their full loan needs, boosting the efficiency of debts and receivables and other activities to help their business to grow. In his new role at BBV, he will be responsible for growing our commercial and mid-market presence across the footprint.

“We are delighted that Will Fox is joining our team,” said Brent Giles, President and CEO. “Will brings a unique skill set as well as experience leading members of sales teams. He will lead the team as they serve as strategic partners for clients by leveraging knowledge, tools and technology to open new avenues of operational and banking efficiency allowing them to focus on sustaining and growing. of their business.

Prior to joining Bank of Blue Valley, Fox worked at UMB Bank as Senior Vice President and Commercial Team Leader. With over 20 years of experience in commercial banking, Fox has extensive experience in all areas of the commercial banking industry. While at UMB, his team of bankers and portfolio managers managed a $ 4 billion portfolio.

“Joining Bank of Blue Valley was an easy decision as it is a very exciting time to join the organization,” said Fox, executive vice president and head of commercial banking for BBV. “With over twenty years of experience with large regional banking organizations, Bank of Blue Valley, powered by HTLF, appealed to me because it offers the scale, sophistication and technology of large institutions, while remaining true to its roots of local service, local decision-making and its philanthropic commitment to the community.

Fox currently holds its Uniform Securities Agent State Law Exam-Series 7 certification in addition to the Uniform Securities Agent State Law-Series 63 exam through the Financial Industry Regulatory Authority (FINRA). He has been a member of the Kansas City Metropolitan Crime Commission Board of Trustees since 2014 and a member of the University of Kansas Financial Advisory Board since 2019.

Fox received his BA from the University of Kansas and his MBA, Management-Finance from the Isenberg School of Management, University of Massachusetts at Amherst. Fox and his wife Mary Kathryn have five daughters and will reside in Leawood, Kan.

About Bank of Blue Valley

Bank of Blue Valley is a subsidiary of Heartland Financial USA, Inc., which operates under the HTLF brand. Headquartered in Overland Park, Kansas, Bank of Blue Valley has assets of over $ 1.4 billion and provides a wide range of banking and financial services to consumers and business customers from 10 banking centers in Kansas and the Missouri. Bank of Blue Valley offers various types of deposit products and offers personal loans, small business loans, commercial real estate and residential mortgage loans, working capital financing and other commercial loans. In addition, Bank of Blue Valley offers wealth management services (including financial planning, private banking, trust and investment services), card services, and online and mobile banking. Bank of Blue Valley is a member of the FDIC and an equal housing lender. For more information, visit www.bankbv.com.

About Heartland Financial USA, Inc.

Heartland Financial USA, Inc. (NASDAQ: HTLF), operating under the HTLF brand, is a financial services company with approximately $ 18.2 billion in assets. HTLF banks serve communities in Arizona, California, Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas and Wisconsin. HTLF is dedicated to its core business activity, supported by a strong retail business, and provides a diverse range of financial services including residential mortgages, wealth management, investment and insurance. Additional information is available at www.htlf.com.


Source link

]]>
https://left-bank.org/will-fox-joins-bank-of-blue-valley/feed/ 0
Flyers’ Sean Couturier talks about eight-year contract extension https://left-bank.org/flyers-sean-couturier-talks-about-eight-year-contract-extension/ https://left-bank.org/flyers-sean-couturier-talks-about-eight-year-contract-extension/#respond Fri, 27 Aug 2021 21:30:24 +0000 https://left-bank.org/flyers-sean-couturier-talks-about-eight-year-contract-extension/ If star center Sean Couturier had tested the free agent market next summer, it is very likely he would have received more money than he received when he reconnected with the Flyers for a contract. $ 62 million over eight years Thursday. But Couturier, 28, whose overtime begins after next season, has kept his hat […]]]>

If star center Sean Couturier had tested the free agent market next summer, it is very likely he would have received more money than he received when he reconnected with the Flyers for a contract. $ 62 million over eight years Thursday.

But Couturier, 28, whose overtime begins after next season, has kept his hat trick manageable ($ 7.75 million a year) for a player his size. This will allow Flyers to spend in other areas later and, theoretically, give them a better chance of succeeding.

“You want to win what you’re worth, but at the same time, I want to win a Stanley Cup, a championship,” Couturier said on a Zoom call with reporters on Friday. “I didn’t want to break the bank or get all the money. I just wanted to insure myself for the next eight, nine years. I just wanted it to be a fair deal for both of us, and that’s what we came to. “

Couturier called it “another way of trying to help the team, and I’m really excited to be a part of this group for years to come.”

The Flyers made many trips this offseason, adding defensemen Ryan Ellis, Rasmus Ristolainen and Keith Yandle; forwards Cam Atkinson, Derick Brassard and Nate Thompson; and goaltender Martin Jones.

READ MORE: Flyers recruit veteran Derick Brassard, giving them more depth and versatility up front

Among those who left: Jake Voracek, Shayne Gostisbehere, Phil Myers, Nolan Patrick, Robert Hagg and Brian Elliott.

“It kind of reminds me of my first year when I came into the league,” Couturier said. “There have been a lot of changes with the Flyers. Some big names. Big stars who have been appreciated in Philly. (Jeff) Carter and (Mike) Richards were traded. And we brought in a bunch of guys.

He mentioned himself, Voracek, Wayne Simmonds and Brayden Schenn.

“There was a lot of excitement back then, and it’s kind of the same now,” he said. “We’ve lost some big names, some good players, but a lot of good players are coming here. There’s a lot of excitement, and it’s going to be important for us to start the chemistry early on and get off the ground as soon as we can. “

The new players, added after a dismal season in which the Flyers went 25-23-8 and missed the playoffs, have been incorporated into the squad’s text channel, Couturier said.

“Everyone seems to be good people and seems to gel. Everyone seems excited and on the same page and ready to help this team take a step forward, ”said Couturier.

Couturier, who mentioned he was happy to no longer have to face Ristolainen’s physique, said the new defense would benefit from all the experience it added.

He said it usually takes longer for defenders to reach their potential.

“We have recruited guys who have been around for a while and who have made an impact in this league,” said Couturier.

READ MORE: Flyers development camp to feature intriguing 6-foot-7, 238-pound defenseman | On the fly

Couturier, named the team’s MVP in each of the past three seasons, called him “huge” when forwards and defenders trust each other.

“With all the experience we have now, the puck should be moving and we should really be in sync,” he said. “I think it’s going to be really exciting. I am excited about the team we have now and in the future.

READ MORE: Flyers’ Kevin Hayes pays tribute to his late brother: “You lit up every room you walked into”

The Flyers have announced that the development camp, which includes on-ice sessions that begin Sunday, will not be open to the public due to concerns over COVID-19.


Source link

]]>
https://left-bank.org/flyers-sean-couturier-talks-about-eight-year-contract-extension/feed/ 0
KCB Rwanda and BPR become one bank | New times https://left-bank.org/kcb-rwanda-and-bpr-become-one-bank-new-times/ https://left-bank.org/kcb-rwanda-and-bpr-become-one-bank-new-times/#respond Wed, 25 Aug 2021 22:15:56 +0000 https://left-bank.org/kcb-rwanda-and-bpr-become-one-bank-new-times/ KCB Rwanda Plc and Banque Populaire du Rwanda Plc (BPR) have started a process of merging into a single entity called BPR Bank, lender officials said. This follows the announcement by KCB Group, the parent company, that they had completed the acquisition of a majority stake in BPR on August 25. The KCB group had […]]]>

KCB Rwanda Plc and Banque Populaire du Rwanda Plc (BPR) have started a process of merging into a single entity called BPR Bank, lender officials said.

This follows the announcement by KCB Group, the parent company, that they had completed the acquisition of a majority stake in BPR on August 25.

The KCB group had initially planned to acquire 62.06 percent of the capital of BPR Plc held by Atlas Mara Group and later in February it acquired 14.61 percent of the issued share capital of BPR held by Arise BV.

This makes the KCB Group the majority owner with 76.67 percent. Earlier this year, KCB made an offer to buy all remaining shareholders to own 100% of the bank.

“We are pleased to report that after successfully obtaining the necessary regulatory approvals and consents and fulfilling all other agreed closing conditions, both transactions have been completed with KCB assuming majority ownership and control of the operations of BPR from August 25, 2021, ”notes a joint press release from the two banks.

Once the merger is completed, the combined bank will become the second largest bank in the local market in terms of assets and market share and the most extensive branch network.

“We are delighted to finalize this acquisition of BPR, a strong retail and SME bank with the largest branch network in the sector and a long history of over 45 years in the country. This transaction will see the combined bank become the 2nd largest bank in the industry, ”said KCB Group CEO and Managing Director Joshua Oigara.

Officials say the merger is expected to give KCB Rwanda customers access to a larger network of branches and agents across the country, while BPR customers will benefit from KCB’s progress in digital capacity, transactional banking solutions, trade finance expertise and international banking services.

“This will increase our scale and improve our operational leverage by allowing us to deliver our existing retail and wholesale offerings to a wider customer base in Rwanda while positioning the bank for long-term sustainable growth,” added Oigara.

BPR Managing Director Maurice Toroitich said that from the transaction and transition clients will benefit from being part of a large banking group in East Africa, KCB’s digital banking capabilities, ” a complementary network of agencies and agents, a range of innovative products, among others.

The merged entity, he said, will focus on deepening financial inclusion as well as lending and trade finance solutions for entrepreneurs and SMEs in the country.

“I want to reassure our clients that the security of their accounts, the stability of banking operations and high quality customer service will remain the top priorities of the combined institution during the transition,” said Toroitich.

The BPR was established in 1975 as a community savings and credit scheme and then transformed into a fully-fledged commercial bank in 2008 with a particular focus on retail and SMEs.

In 2016, BPR merged with the commercial wing of the Banque de Développement du Rwanda (BRD), which it acquired in 2014, giving Atlas Mara the controlling 62.1% stake in BPR.

KCB Group, on the other hand, is arguably East Africa’s largest commercial bank established in 1896 in Kenya. Over the years, the Bank has expanded to Tanzania, South Sudan, Uganda, Rwanda and Burundi.

cmwai@newtimesrwanda.com



Source link

]]>
https://left-bank.org/kcb-rwanda-and-bpr-become-one-bank-new-times/feed/ 0
Wells Fargo Selects JPMorgan Bank Exec to Lead Offering for Diverse Client List https://left-bank.org/wells-fargo-selects-jpmorgan-bank-exec-to-lead-offering-for-diverse-client-list/ https://left-bank.org/wells-fargo-selects-jpmorgan-bank-exec-to-lead-offering-for-diverse-client-list/#respond Tue, 24 Aug 2021 21:14:19 +0000 https://left-bank.org/wells-fargo-selects-jpmorgan-bank-exec-to-lead-offering-for-diverse-client-list/ August 24, 2021 Wells Fargo has hired Clarence Nunn, an executive at JP Morgan Chase, to lead the campaign for a more diverse wealth management client roster. Wells Fargo has hired an executive from JPMorgan Chase, and a former National Football League ball player, to campaign for a more diverse customer base, the company said […]]]>

August 24, 2021

Wells Fargo has hired an executive from JPMorgan Chase, and a former National Football League ball player, to campaign for a more diverse customer base, the company said today.

At Wells, Clarence Nunn will report to Barry Sommers, CEO of the Wealth Management Unit, and Kleber Santos, his Head of Diverse Segments, Representation and Inclusion, and “will define the strategy, manage and develop the partnerships for clients and prospects, ”the firm said. in a press release announcing his hiring.

Nunn had led Chase Commercial Bank’s Southeast Mid-Market Banking and Specialties business, as well as its nation-wide franchise finance business, according to the Wells announcement. He had been listed as a representative of JP Morgan Securities since 2016, according to his BrokerCheck file.

“This important position responds to a key need in our ongoing global and organizational approach. This continues us on the path to deepening our engagement and relationships with employees as well as customer segments critical to expanding our market share, ”Sommers said in a statement included in the report. announcement.

Its mandate will include “building a workforce that represents the clients and the communities we serve, and will strive to bridge racial wealth gaps by providing investment advice that builds a foundation from which create generational wealth, ”Nunn said in her statement.

Prior to joining Chase, Nunn spent 24 years at General Electric, where he was Commercial Director of GE Commercial Distribution Finance and GE Capital Americas, and CEO of GE Capital Fleet Services, Rail Services and Franchise Finance, among other roles, the a declared Wells’ statement.

Between 1988 and 1990, Dunn, who had played varsity ball for San Diego State University, was drafted into the NFL by the New Orleans Saints, played preseason, and signed the the following year as a free agent for the Los Angeles Rams. , and played again in the preseason, according to a Wells spokesperson.


Source link

]]>
https://left-bank.org/wells-fargo-selects-jpmorgan-bank-exec-to-lead-offering-for-diverse-client-list/feed/ 0
Osaka and Serena Ace compete – Sportico.com https://left-bank.org/osaka-and-serena-ace-compete-sportico-com/ https://left-bank.org/osaka-and-serena-ace-compete-sportico-com/#respond Tue, 24 Aug 2021 04:11:39 +0000 https://left-bank.org/osaka-and-serena-ace-compete-sportico-com/ Life on the pitch has been tough for Naomi Osaka and Serena Williams over the past six months. Injuries, shocking losses and missed tournaments have limited the pair to just nine combined WTA field wins since February, when Osaka won the Australian Open after beating Williams in the semifinals. And yet, their marketing could remain […]]]>

Life on the pitch has been tough for Naomi Osaka and Serena Williams over the past six months. Injuries, shocking losses and missed tournaments have limited the pair to just nine combined WTA field wins since February, when Osaka won the Australian Open after beating Williams in the semifinals. And yet, their marketing could remain at historic levels.

Osaka ($ 55.2 million) and Williams ($ 35.5 million) lead the world’s highest-paid female athletes, with more than 90% of their totals earned on the field thanks to partners Support. The fall after tennis stars is huge, as third-ranked Simone Biles only earned $ 6 million, according to Sporticoestimates of.

Osaka’s record-breaking tally ranks No.15 among all athletes – male or female – while Williams finished No.44 for gains in the 12 months through May 2021. Roger Federer, LeBron James and Tiger Woods are the only active athletes to earn more endorsements than Osaka over the past year.

“The Osaka brand, while getting complicated for many, remains compelling, especially in the current era of sports marketing, seemingly underlined by activism and advocacy as much as by accomplishments and personality,” David said. Carter, director of Sports Business Group, an industry consultant. . “While it will continue to be a sports marketing force, some will turn it off, while others will increase it.”

Tennis has always been the safest way for female athletes to make money. The prize money is on par with men’s, and endemic sponsors like Nike and Adidas are pouring millions into the biggest stars to help increase their clothing sales. But tennis income is down in the sport outside of Osaka and Williams. COVID-19 slashed revenue and cash prizes from many events, while Wimbledon, with its expected purse of $ 55 million, was completely canceled in 2020. The fewer events also prompted clothing sponsors to reduce payouts by 20-40% for most players. The result: only 30% of today’s top 10 highest-paid female athletes make a living with a racquet, up from 90% last year and 100% in 2019.

The downturn in tennis saw a trio of South Korean golfers claim a spot, led by Jin Young Ko at $ 5.3 million, including $ 2.1 million in cash prizes. The total prize money of the LPGA is $ 73.3 million this year, up 77% over the past 10 years.

The Korean LPGA golf boom was started by Se-ri Pak, who was the only Korean player on the Tour when she joined full-time in 1998. She set the Tour on fire in her debut. decade, and in 2008 there were 45 Korean LPGA members.

“Korea continues to be a very strong market for LPGA Tour players and for women’s golf in general, and lately we have seen a steady increase in sponsorship support from large US and global companies looking to leverage the global reach of the LPGA, ”said veteran agent JS Kang, who runs Epoch Sports Group and represents some of the best players in the LPGA; Kang would not disclose any contractual details about his clients.

Soccer stars Alex Morgan and Megan Rapinoe, as well as skier Mikaela Shiffrin, all earned at least $ 3.5 million from endorsements and made it into the top 10, per Sportico estimates. It might not be NBA star sneaker money, but it’s on par with what the biggest stars in baseball and hockey earn off the field and the ice. Brands like Mastercard are looking to balance their sports sponsorships with investments in female athletes. Osaka agent Stuart Duguid said Sportico in May, being a woman definitely made her more attractive to sponsors. “There is a big push to invest in women in sport,” he said.

Companies certainly spend more on individual, team and league sponsorship for female athletes, but salaries remain a fraction of those in male leagues because revenues are not in the same stratosphere. The NBA TV contract is roughly 100 times that of the WNBA, which is reflected in player salaries.

Osaka and Williams made it to the top 50 highest paid athletes, but dig a little deeper, and the reality is they would be the only two of the top 1,000 highest paid athletes. Biles made $ 6 million, and there were 865 NFL, NBA, MLB, NHL and Premier League athletes combined who earned at least that in salary alone, according to Spotrac data. . Taking the mentions into account, along with every other male athlete around the world in other sports, would push Biles well out of the top 1,000 overall.

Take Ada Hegerberg. The Norwegian striker won the first Women’s Ballon d’Or in 2018, awarded to the best footballer on the planet. His sponsors – Nike, Mastercard, Hublot and DAZN – are pushing his earnings off the field to seven figures. Hegerberg plays in the best women’s league in the world, in France, and starts her season this week for Olympique de Lyon. Her new three-year contract is worth around $ 600,000 a year, the most for any footballer, but a failure compared to the men, with Lionel Messi, Neymar and Cristiano Ronaldo all earning at least $ 70 million in salary and bonus last season.

Methodology

SporticoEstimates of include all revenue from cash prizes, salaries, bonuses, endorsements, licenses, royalties, memorabilia, appearances, media, and book offerings between June 1, 2020 and June 31, 2020. May 2021. We have not taken into account investment income or deducted for taxes or agency fees. The top 10 took home a total of $ 127 million, including $ 14 million in prizes and salaries.

Highest Paid Female Athletes

1. Naomi Osaka: $ 55.2 million

Prize money: $ 5.2 million; Endorsements: $ 50 million

Speaking out on social issues once sounded the death knell for athlete support, but Osaka’s activism over the past year has raised its mark. She has two dozen sponsor partners, led by Nike, which pays her around $ 10 million a year.

2. Serena Williams: $ 35.5 million

Prize money: $ 1.5 million; Endorsements: $ 34 million

With Subway restaurants becoming her latest sponsorship partner, Williams remains a marketing juggernaut even as she nears her 40th birthday next month, despite her last Grand Slam title which took place four and a half years ago. Its venture capital fund, Serena Ventures, has made more than 50 investments.

3. Simone Biles: $ 6 million

Her 19 gold medals at the World Championships are more than double that of any other gymnast and have made her a marketing star with 11 current partners including Athleta, Visa, United Airlines, Uber Eats and the Mondelez’s Oreo brand. She stages her own post-Olympic Gold Over America Tour, covering 35 cities during the fall.

4. Jin Young Ko: $ 5.6 million

Prize money: $ 2.1 million; Endorsements: $ 3.5 million

Ko won the silver title in 2019 and 2020, with last year’s tally only coming from four events. A pair of major wins in 2019 and the No. 1 global ranking saw major endorsement deals with LG Electronics and Manila-based Solaire Resort & Casino last year.

5. Sei Young Kim: $ 4.7 million

Prize money: $ 1.7 million; Endorsements: $ 3 million

The 28-year-old was named the 2020 LPGA Player of the Year, and she holds the Tour’s all-time 72-hole record at 31 under. She signed a multi-year deal this year with Korean skincare brand Mediheal, promoting the brand on her clothes and hat at events.

6. Garbiñe Muguruza: $ 4.5 million

Prize money: $ 1 million; Endorsements: $ 3.5 million

The Spanish-Venezuelan tennis star recently added deals with Jaguar and Nivea to a portfolio of deep supports that also includes Adidas, Babolat, Beats, Caser Insurance and Maui Jim. She took a three-month business course at Harvard University this year.

7. Alex Morgan: $ 4.3 million

Salary: $ 250,000; Endorsements: $ 4 million

The USWNT and Orlando Pride veteran has racked up the biggest list of supporters in women’s football, with Nike, Coca-Cola, Luna, AT&T, Secret, Volkswagen and more. This year, she launched a new women’s media and commerce company called Togethxr, which last week announced plans to make a documentary on WNBA star Breanna Stewart.

8. Megan Rapinoe: $ 4.1 million

Salary: $ 250,000; Endorsements: $ 3.8 million

The pink-haired captain of the USWNT is highly sought after in the market as a corporate speaker and has developed a hybrid model of traditional endorsements that often have an advisory component as she takes the pulse of people deprived of their own. rights. Major partnerships include Nike, BodyArmor, Subway, Victoria’s Secret, Schmidt Deodorant, Cliff Bar and Symetra Insurance.

9. Mikaela Shiffrin: $ 3.9 million

Prize money: $ 411,000; Endorsements: $ 3.5 million

Shiffrin has dominated the snow since turning pro at age 15 in 2011. Her 69 World Cup wins, including a record 17 in 2019, already rank second all-time behind Lindsey Vonn. Ski racing is very popular in Europe and its dominance has attracted more than a dozen personal sponsors, including Adidas, Atomic, Barilla, Bose, Comcast, Land Rover, Oakley and Visa.

10. Inbee Park: $ 3.7 million

Prize money: $ 1.7 million; Endorsements: $ 2 million

Park built a Hall of Fame resume in 15 years as a pro, with seven major titles, an Olympic gold medal and four stints as a world No.1 player. His career $ 17.7 million awards are ranked fourth all-time.


Source link

]]>
https://left-bank.org/osaka-and-serena-ace-compete-sportico-com/feed/ 0
3 reasons why I don’t plan to buy a house https://left-bank.org/3-reasons-why-i-dont-plan-to-buy-a-house/ https://left-bank.org/3-reasons-why-i-dont-plan-to-buy-a-house/#respond Sun, 22 Aug 2021 15:00:21 +0000 https://left-bank.org/3-reasons-why-i-dont-plan-to-buy-a-house/ In America, we all do a lot of “American Dream” propaganda – you know, the house in the suburbs with the perfectly manicured lawn and a dog going for the morning paper. While I’m all for having a useful canine companion, owning a home just isn’t on my plan – at least not anytime soon. […]]]>

In America, we all do a lot of “American Dream” propaganda – you know, the house in the suburbs with the perfectly manicured lawn and a dog going for the morning paper.

While I’m all for having a useful canine companion, owning a home just isn’t on my plan – at least not anytime soon. Despite the cultural push towards home ownership, I’m just not convinced that owning a home is the right financial decision for my family.

Here are the top three reasons why I plan to rent for the foreseeable future.

6 simple tips to get a 1.75% mortgage rate

Secure access to The Ascent’s free guide that reveals how to get the lowest mortgage rate on your new home purchase or when refinancing. Rates are still at their lowest for decades, so act today to avoid missing out.

By submitting your email address, you consent to our sending you money advice as well as products and services which we believe may be of interest to you. You can unsubscribe anytime. Please read our privacy statement and terms and conditions.

1. Buying a house is Dear

Almost every aspect of buying real estate involves spending your hard earned money. The most obvious cost is the down payment.

Unless you’re sitting on a big pile of cash, you probably need a mortgage to buy a residential property. To get the best chance of approval, the best interest rates, and the lowest mortgage fees, you need a down payment of at least 20%.

The median price of a home in the United States is almost $ 300,000. And 20% of $ 300,000 is $ 60,000. It’s a parcel money to be returned to the bank.

If you’re comfortable paying mortgage default insurance, you can probably get by with a lower down payment. But even if you only pay 5%, it’s still $ 15,000 in hard cash that you need to find – and be financially stable enough to do without.

Your down payment is just the tip of the iceberg when it comes to your loan. Over the life of a 30-year mortgage, you can pay six figures in interest only.

There are many other fees and expenses that are part of buying a home. For example, having your potential new home inspected before you buy it. You will probably also need a property appraisal.

And let’s not forget the closing costs.

2. Own a house is expensive too

As expensive as it is to buy a house, own real estate can be just as, if not more, expensive. On the one hand, there are property taxes. Even the most tax-wicked states of the Union have property taxes, and you are responsible for paying them even after your mortgage ends. Heck, you don’t even need buildings on your property to pay taxes.

The amount you are charged in property taxes depends on the state and county where your property is located. They are usually based on the estimated value of your property, and this appraisal is done by your city or county. The average single-family home had a property tax bill of $ 3,719 in 2020. That works out to over $ 300 per month.

If you live in a condo, townhouse, or neighborhood with a Homeowners Association (HOA), be prepared to pay more in fees. In some cases, it could be $ 50 per month to maintain the neighborhood tennis court – or it could be $ 300 per month for maintenance and landscaping.

And speaking of maintenance, be prepared to learn how to fix, well, just about anything – or pay someone to do it for you. When you own your home, a broken refrigerator means calling (and paying for) the repair technician yourself. Same thing with a clogged toilet, a dying furnace, and that raccoon in your attic. Maintenance and repairs can easily reach a few thousand per year.

3. Selling a house is also expensive

So not only does it cost a fortune of to buy a house, it can also cost a king’s ransom just for own a. But your costs don’t end there. You will also pay to get rid of the house when you are done with it.

Most houses are virtually impossible to move (except those on wheels, which have their own problems). If you want to move, you must sell your property. And selling a house is, you guessed it, Dear.

In most cases, you want a real estate agent to help you sell your home. This can be 4% or even 6% of the price of your home. An agent can help you get a higher price for your home that covers this commission, but this is not a given.

Even if you opt for DIY, there is a fee for completing the required paperwork, plus taxes to pay. And that’s before the cost of any repairs needed to bring the property up for sale.

In the end, it can cost 10% of the value of your home to sell it to someone else. And we haven’t touched on the cost of time to prepare, register, and present what goes with selling real estate.

Basically, no matter how you cut it, having your own home will cost you money. While renting isn’t exactly free, it just makes more financial sense to me right now than buying a home. I am still in favor of the dog, however.


Source link

]]>
https://left-bank.org/3-reasons-why-i-dont-plan-to-buy-a-house/feed/ 0
The Central Bank removes push and pull charges | New times https://left-bank.org/the-central-bank-removes-push-and-pull-charges-new-times/ https://left-bank.org/the-central-bank-removes-push-and-pull-charges-new-times/#respond Sun, 22 Aug 2021 05:32:47 +0000 https://left-bank.org/the-central-bank-removes-push-and-pull-charges-new-times/ No fees or charges will now be incurred when transferring funds from their bank account to their mobile money wallet and vice versa (push and pull fees). The Central Bank removed costs in its latest directive in an effort to promote efficiency and protect users. The directive, which comes into force immediately, prohibits fees and […]]]>

No fees or charges will now be incurred when transferring funds from their bank account to their mobile money wallet and vice versa (push and pull fees).

The Central Bank removed costs in its latest directive in an effort to promote efficiency and protect users.

The directive, which comes into force immediately, prohibits fees and charges on transfers between his mobile money wallet and his bank account.

The so-called “push and pull” transaction has sparked debate in recent weeks, as a majority of users lamented that it risked reversing gains made in previous months in the use of cashless payments.

In May of this year, the central bank told the New Times that it had commissioned a study on the pricing of digital financial services.

“Fees and commissions on transferring funds between electronic money and deposit accounts belonging to the same person are prohibited,” reads part of the directive signed by Central Bank Governor John Rwangombwa.

The Central Bank also removed interest on trust accounts held by the telecommunications company, which was also cited as a factor in increasing fees.

During pull transactions (transfer from account to mobile wallet), banks paid interest when funds were transferred from the customer’s bank accounts to a trust account held by the telephone company.

The banks paid interest on the funds held in the trust account at a rate of about 6 percent. Interest on the trust account has already been cited by local banks as a problem and a determining factor in the cost of the transaction.

“Trust accounts and associated individual electronic money accounts are only used for the purpose of facilitating payment services. As such, interest on trust accounts and interest on individual e-money accounts are prohibited unless the latter is explicitly used as a savings account, ”the directive says.

In the local market, the costs of pulling, for example, 40,000 Rwf from one’s bank account to a mobile wallet have been estimated at between 200 Rwf and 1,000 Rwf.

In previous interviews with The New Times, banks had defended transfer costs citing the recovery of investments made, costs incurred and convenience fees.

The banks had cited some of the costs incurred in the process to include the mobile banking system, integration costs, software and its maintenance as well as back office reconciliation resources.

Other costs include SMS notification and USSD session fees.

Teclos, on the other hand, had justified the costs of push transactions (mobile wallet to bank account) by citing that they enter into costs such as agent fees, back-office reconciliation resources, customer support and other technology resources.

cmwai@newtimesrwanda.com



Source link

]]>
https://left-bank.org/the-central-bank-removes-push-and-pull-charges-new-times/feed/ 0
Investors wary of Chinese insurance giant’s actions https://left-bank.org/investors-wary-of-chinese-insurance-giants-actions/ https://left-bank.org/investors-wary-of-chinese-insurance-giants-actions/#respond Tue, 17 Aug 2021 09:30:00 +0000 https://left-bank.org/investors-wary-of-chinese-insurance-giants-actions/ Weak insurance sales and some underperforming investments held back the share price of Ping An Insurance (Group) Co.. The Chinese retail financial services giant, with a market capitalization of around $ 157 billion, is the world’s second-largest insurer after Warren Buffett’s Berkshire Hathaway Inc. The Shenzhen-based group also operates a bank and has units that […]]]>

Weak insurance sales and some underperforming investments held back the share price of Ping An Insurance (Group) Co..

The Chinese retail financial services giant, with a market capitalization of around $ 157 billion, is the world’s second-largest insurer after Warren Buffett’s Berkshire Hathaway Inc. The Shenzhen-based group also operates a bank and has units that provide asset management, consumer loans, healthcare and technology services.

Hong Kong-listed Ping An stocks, which are part of the MSCI China index, have recently fallen 29% during the period since the start of the year and have significantly underperformed the major benchmarks of the Marlet.

The US certificates of deposit of Lufax Holding Ltd., Ping An’s US-listed online lending partner, and fintech services platform OneConnect Financial Technology Co. China Internet and Technology Stocks .

Ping An, one of China’s largest sellers of life, health, and property and casualty insurance, has struggled in recent times with a declining sales force as the overall growth in the industry’s policy premiums. insurance slows down. The company also suffered heavy losses this year from an ill-fated investment in stocks and bonds of China Fortune Land Development Co., a real estate company that defaulted on its debts. In April, Ping An estimated he would suffer a loss of $ 2.8 billion on his $ 8 billion exposure to the developer.


Source link

]]>
https://left-bank.org/investors-wary-of-chinese-insurance-giants-actions/feed/ 0