KUALA LUMPUR, Oct 23 -- John Donahoe is NIKE Inc’s new president and chief executive officer (CEO), effective Jan 13 next year, according to the board of directors. Concurrently, chairman, president and CEO since 2016, Mark Parker will become executive chairman and continue to lead the board, working closely with Donahoe and senior management team. “I am delighted John will join our team. His expertise in digital commerce, technology, global strategy and leadership, combined with his strong relationship with the brand, make him ideally suited to accelerate our digital transformation and build on the positive impact of our Consumer Direct Offense,” said Parker. Donahoe says it is an honour to become president and CEO of this amazing, innovative company, and join over 76,000 talented and passionate employees dedicated to serving athletes. Donahoe, who is currently the president and CEO of ServiceNow Inc, earned a bachelor’s degree in Economics from Dartmouth College and an MBA from Stanford University. He will remain on the Board of Nike where he has been a member since 2014. More details at https://news.nike.com/ -- BERNAMA
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KUALA LUMPUR, Oct 22 -- Tommy Hilfiger, one of the world’s most recognised premium designer lifestyle groups owned by PVH Corp, has appointed Michael Scheiner as Tommy Hilfiger Global Chief Marketing Officer, effective Oct 28.
“We are thrilled to have Michael join our world class Marketing Organization, and believe he will help fuel our ongoing digital transformation, enable us to respond strategically to new disruptions, and position Tommy Hilfiger as a leader amongst its competitors,” said Tommy Hilfiger Global & PVH Europe Chief Executive Officer, Daniel Grieder. Scheiner will utilise his passion and experience to lead the company into a new era of innovative marketing strategies – particularly across digital and experiential platforms – to reach and engage the next generation of consumers. He joins Tommy Hilfiger from Hollister Co where he served as senior vice-president (global marketing). His work helped to move Hollister into the top five brands among teens in Piper Jaffray’s Fall 2019 Taking Stock survey and supported Hollister’s recognition as a Top Omni-Channel retailer. Scheiner will relocate to the Tommy Hilfiger global headquarters in Amsterdam, the Netherlands, according to a statement. “I am excited to work closely with Tommy, Daniel and the company’s talented marketing teams around the world to write the next chapter as Tommy Hilfiger celebrates its 35th anniversary next year,” said Scheiner. More information at https://usa.tommy.com/en. -- BERNAMA KUALA LUMPUR, Oct 29 -- Endowus, the first end-to-end digital adviser for investment with CPF savings has unveiled its proprietary online investment platform and first CPFIS investment offerings.
The announcement follows the inclusion of Endowus partner broker, UOB Kay Hian, as a CPF Investment Scheme (CPFIS) Investment Administrator, the first to be newly included in the last 14 years. The Endowus platform has unique elements as everything can be done online via mobile or desktop. Endowus bridges both public and private savings on a centralised investment and advisory platform. Clients can receive advice and invest holistically and seamlessly on the platform across all three sources of funds, increasing investment efficiency and maximising the probability of success in reaching their investment and retirement goals. The company will also rebate 100 per cent of trailer fees (or commissions) to client CPF Investment Accounts, reducing net fees paid by CPF members to a fraction of current norms. Endowus’ CPFIS advised portfolios allows geographic, asset class and manager diversification in efficient, low cost, core portfolios focused on strategic asset allocation as it has partnered with the largest local and major global fund management companies. Endowus will continue to improve its portfolios to enhance the outcome for all CPF members with effort including its success in bringing the first passive, low-cost S&P 500 US Equity unit trust fund onto the list of CPFIS-included funds with Vanguard & Lion Global. Endowus is a Singapore-based investment advisory platform that enables people to efficiently invest their CPF, SRS and cash savings at the lowest cost achievable. More information at https://endowus.com. -- BERNAMA NEW YORK, Oct 29 (Bernama-BUSINESS WIRE) -- Moody’s Corporation (NYSE:MCO) announced today that it will acquire a minority stake in SynTao Green Finance (STGF), a leading provider of environmental, social and governance (ESG) data and analytics based in and serving China.
STGF provides ESG data and ratings, green bond verification, and green finance solutions to financial institutions and corporates in China. The company also provides thought leadership on ESG to policy makers. STGF’s data covers publicly listed Chinese companies, bond issuers and macro ESG development trends. STGF was the first Chinese signatory joining the UN Principles for Responsible Investment (UNPRI) as a service provider and the first Climate Bonds Initiative Approved Verifier in China, and the sole Chinese green bond verifier within the first advisory council of Green Bond / Social Bond Principles by International Capital Markets Association (ICMA). It is also the founder of the China Social Investment Forum. The investment in STGF aligns with Moody’s ongoing global commitment to promoting transparent standards for evaluating ESG risks. Locally, the investment strengthens Moody’s presence and engagement in China and its financial markets, with a focus on supporting long-term, sustainable growth and contributing to the healthy development of ESG markets. “Since its founding, STGF has solidified its position in China as a local standard setter and leading domestic platform for ESG data and analytics. STGF’s China-specific data sets provide opportunities to enhance Moody’s global ESG research and data,” said Hao Shi, Managing Director, Country Manager for Moody’s China operations. “Together we will seek to leverage our respective strengths and capabilities to provide a range of solutions for investor and issuer ESG needs, including joint research, product development and technical cooperation.” “In consideration of both global ESG standards and China’s specialized market characteristics, STGF has developed effective ESG methodologies dedicated to China and has accumulated a substantial amount of data,” said Peiyuan Guo, Chairman of STGF. “Moody’s investment will help STGF accelerate its data coverage, adoption and ability to further serve Chinese market participants. We are excited to partner with Moody’s and look forward to future collaboration.” The deal complements Moody’s recent acquisitions of Vigeo Eiris, a leading global provider of ESG research, data and assessments, and of Four Twenty Seven, Inc., a leader in climate data and risk analysis. The terms of the transaction were not disclosed, and it will not have a material impact on Moody’s 2019 financial results. The transaction is expected to close by early November 2019. ABOUT MOODY’S CORPORATION Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody's Corporation (NYSE: MCO) is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management. The Corporation, which reported revenue of $4.4 billion in 2018, employs approximately 13,200 people worldwide and maintains a presence in 44 countries. Further information is available at www.moodys.com. For more information about Moody’s approach to ESG, visit www.moodys.com/esg. Activating an environmentally sustainable future is a key focus of Moody’s approach to Corporate Social Responsibility. For more information visit www.moodys.com/csr. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995 Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for the Company’s business and operations that involve a number of risks and uncertainties. Such statements may include, among other words, “believe”, “expect”, “anticipate”, “intend”, “plan”, “will”, “predict”, “potential”, “continue”, “strategy”, “aspire”, “target”, “forecast”, “project”, “estimate”, “should”, “could”, “may” and similar expressions or words and variations thereof that convey the prospective nature of events or outcomes generally indicative of forward-looking statements. The forward-looking statements and other information in this release are made as of the date hereof (except where noted otherwise), and the Company undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Company is identifying examples of factors, risks and uncertainties that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to, credit market disruptions or economic slowdowns, which could affect the volume of debt and other securities issued in domestic and/or global capital markets; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, credit quality concerns, changes in interest rates and other volatility in the financial markets such as that due to uncertainty as companies transition away from LIBOR and the U.K.’s pending withdrawal from the EU; the level of merger and acquisition activity in the U.S. and abroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government actions affecting credit markets, international trade and economic policy, including those related to tariffs and trade barriers; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction of competing products or technologies by other companies; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations, including provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and regulations resulting from Dodd-Frank; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation related to our rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquires to which the Company may be subject from time to time; provisions in the Dodd-Frank legislation modifying the pleading standards, and EU regulations modifying the liability standards, applicable to credit rating agencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; the possible loss of key employees; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the outcome of any review by controlling tax authorities of the Company’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if the Company fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which the Company operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions or other business combinations and the ability of the Company to successfully integrate such acquired businesses; currency and foreign exchange volatility; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under “Risk Factors” in Part I, Item 1A of the Company’s annual report on Form 10-K for the year ended December 31, 2018, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it. View source version on businesswire.com: https://www.businesswire.com/news/home/20191028005559/en/ Contact For Moody’s: SHIVANI KAK Moody’s Investor Relations +1 212-553-0298 [email protected] OR MICHAEL ADLER Moody’s Communications +1 212-553-4667 [email protected] OR GEORGE ZHU Moody’s Communications +86 138 1057 0262 [email protected] Source : Moody's Corporation Investor Relations SMARTSTREAM INTRODUCE A NEW ARTIFICIAL INTELLIGENCE MODULE TO CAPTURE MISSED PAYMENTS AND RECEIPTS29/10/2019 LONDON, Oct 29 (Bernama-BUSINESS WIRE) -- SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today completed a proof of concept for an artificial intelligence (AI) and machine learning module within its existing TLM Cash and Liquidity Management solution for receipts and payments - essential for any business in terms of liquidity risk and regulatory reporting.
Technology that meets the market demand for forecasting liquidity has been the backbone of SmartStream’s intraday liquidity management solution. The next phase of the solution’s development is about predicting the settlement of cash-flows. SmartStream has been working on a proof of concept with its clients for profiling and predicted intraday settlement activity, which includes missed payments and receipts identification planned for settlement within current date. Cash management teams will gain greater visibility into the payment process and manage liquidity risk more efficiently, minimising the potential of payments being missed. Andreas Burner, Chief Innovation Officer, SmartStream, states: “This proof of concept is clearly another important step towards ensuring that our clients are keeping pace with what the regulators are demanding - and in particular the questioning of a bank’s position and the management of its outstanding balances. By combining our recent achievements in AI with SmartStream’s many years of experience in this area, the Vienna-based Innovation Lab developed this new AI cash and liquidity prediction module. The technology continuously learns data patterns so the service continues to improve and become more efficient”. The new TLM Cash and Liquidity Management, AI and machine learning module is an important development for any financial institution with a treasury department, with its ability to predict when credit is going to arrive; giving the treasurer more control over cash-flows. The proprietary algorithm uses the data and predicts the forecasted settlement time of receipts on an intraday basis. The core of the module is underpinned by sophisticated machine learning technology that continuously improves, meaning the predictions become more accurate and treasurers can make more informed decisions. Nadeem Shamim, Head of Cash & Liquidity Management, SmartStream, says: “Things are going to get tighter in terms of managing liquidity. Collateral is expensive, capital is expensive and there is currently a big drive to reduce excessive use of capital – this is an area where AI and predictive analytics can manage liquidity buffers more efficiently and that can result in significant savings”. AI and machine learning provide the banks with the opportunity to look at reducing the liquidity buffer. The rigorous analysis of unstructured data and learned settlement predictions reduces costs. It also offers another tool that can be used to mitigate the impact of reputational risk as it relates to the ability to meet payment obligations by allowing greater visibility into exposure limits with predicted forecasting. The new SmartStream user interface enables users to drill down into individual cash-flows. Ends View source version on businesswire.com: https://www.businesswire.com/news/home/20191028005068/en/ Contact For further information Mark Roth, CMO, SmartStream – New York Tel: (646) 244-5097 Email: [email protected] Nathan Gee, Marketing Director, SmartStream - London Tel: +44 (0) 20 7898 0630 Email: [email protected] Shamira Alidina, Media Relations Director, Dina Communications Tel +44 (0) 7801 590718 Email: [email protected] Source : SmartStream Technologies SINGAPORE, Oct 29 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Singapore Reinsurance Corporation Limited (Singapore Re) (Singapore). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Singapore Re’s balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). Singapore Re’s balance sheet strength assessment is underpinned by risk-adjusted capitalization that remains at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Despite an elevated dividend payout ratio over the past five years, retained earnings have remained sufficient to support new business growth over this period. Other balance sheet factors include the company’s moderate risk investment strategy, and high usage of and dependence on retrocession to manage exposure to catastrophe events, accumulations and large single risks. AM Best views Singapore Re’s operating performance to be adequate, with the company having reported a five-year average return on equity ratio of 4.9% (2014-2018). Underwriting performance has exhibited a level of volatility and increased pressure over recent years driven by continued competitive conditions and increased natural catastrophe activity, with a five-year average combined ratio of 101.1% (2014-2018). The company’s overall earnings remain supported by investment operations, with a five-year average net investment return (including gains/losses) of 3.3%. AM Best views Singapore Re’s business profile as neutral. The company is a regional non-life reinsurer based in Singapore, with a modest-sized gross written premium base of SGD 208 million (USD 193 million) in 2018. The company remains somewhat reliant on its long-standing relationships with a select number of local cedants, including some shareholders of Singapore Re, which has enabled preferential access to profitable business over a number of years. AM Best views that any deterioration in these relationships over time would likely place pressure on the company’s business profile assessment. AM Best views the company’s ERM approach as appropriate given the current size and complexity of its operations. The company identifies and measures key risks on a frequent basis and manages these risks in conjunction with its Own Risk and Solvency Assessment (ORSA) framework. A partially offsetting factor remains the company’s high level of cedant concentration, largely reflecting the volume of business that emanates from a small number of local cedants with which Singapore Re has long-standing relationships. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases. AM Best is a global credit rating agency and information provider with an exclusive focus on the insurance industry. Visit www.ambest.com for more information. Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on businesswire.com: https://www.businesswire.com/news/home/20191025005431/en/ Contact Yuan Tian Senior Financial Analyst +65 6303 5016 [email protected] Myles Gould Director, Analytics +65 6303 5020 [email protected] Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 [email protected] Jim Peavy Director, Public Relations +1 908 439 2200, ext. 5644 [email protected] Source : AM Best KUALA LUMPUR, Oct 21 -- RIMES Technologies, a managed data and RegTech solutions provider today opened its new office in Manila, Philippines.
The new facility will operate on multiple shift patterns, augmenting RIMES’ proven ability to deliver 24/7 support to global customers, according to a statement. “The Manila hub centralised many of the complex data referencing tasks that underpin our services and will prove essential in helping our customers overcome many of the major data management and regulatory challenges they currently face,” said RIMES chief executive officer and co-founder, Christian Fauvelais. The operational support hub will provide customers access to client services, data analysis, performance analysis and IT skills needed to run their data management and compliance operations. The facility builds on RIMES’ extensive Asia Pacific footprint, which has been established for more than a decade and includes sales and support offices in Singapore, Shanghai and Sydney. More information at https://www.rimes.com. -- BERNAMA KUALA LUMPUR, Oct 18 -- Taconic Biosciences, a global leader in providing drug discovery animal model solutions has added Dr Frank Sistare to its Scientific Advisory Board (SAB).
Dr Sistare joins existing SAB members Andrew Goodman, PhD; David Hill, PhD; and Robert Rosenthal, PhD, according to a statement. The SAB will continue to collaborate with Taconic’s management in providing scientific insight and guidance on the evolution of its product and service portfolio. Dr Sistare’s extensive career and expertise in the field of toxicology complements the standing board members as it provides expertise in microbiome, oncology and toxicology spaces to drive Taconic’s innovation in these and other research areas. “We welcome Dr Sistare and his deep experience as Taconic continues developing solutions that are more precise and relevant to human clinical outcomes,” shared Taconic Biosciences chief executive officer, Nancy J. Sandy. Dr Sistare has served for the past 16 years as executive director, associate vice-president and scientific associate vice-president within safety assessment and laboratory animal resources at Merck Research Laboratories. He earned his BS in Pharmacy from the University of Rhode Island, PhD in Pharmacology at the University of Virginia, and was awarded a postdoctoral PRAT Fellowship at the National Institutes of Health. -- BERNAMA KUALA LUMPUR, Oct 17 -- Serving the marine sector for over a decade, Lithium Werks has seen the market transition from small lithium batteries in racing yachts to large battery systems in ferries and work vessels.
Lithium Werks does not use nickel-manganese-cobalt (NMC) as a battery technology but instead, sells safer lithium iron phosphate (LFP) technology. NMC is much more prone to extreme events such as thermal runaway than Lithium Werks’ LFP chemistry. Additionally, Lithium Werks’ modules use smaller cylindrical cells, making the energy released is minimal compared to the large format NMC cells. This further increases the safety of its battery system. Lithium Werks has spent over 20 years perfecting its LFP chemistry to now provide the perfect combination of inherent safety, power and energy density, along with class-leading lifetime in a modular, scalable package that does not require complex cooling systems. More details at https://lithiumwerks.com -- BERNAMA Two companies unite to jointly serve a global customer base
Schiller Park, Ill., Oct 16 (Bernama-GLOBE NEWSWIRE) -- PSAV announced today that it has completed its previously announced acquisition of Encore Event Technologies. PSAV and Encore, both global leaders in event experiences and production services, combine their deep expertise and shared commitment to be an invaluable global partner for the meeting industry. Terms of the transaction were not disclosed. “The combination of Encore and PSAV is monumental for the industry and all who rely on us for their event experience needs. It provides us with the ability to expand our capabilities and footprint in order to better serve our collective meeting planner customers and valued venue partners,” said Mike McIlwain, CEO of PSAV. “The Encore team is very much aligned to our purpose, mission and values, and I am confident our expanded team will exceed our own expectations when it comes to helping our customers achieve their meeting and event goals.” Bob Priest-Heck, Chief Executive Officer of The Freeman Company, said, “This divestiture is an important milestone and will allow Freeman to invest deeper in our broad competencies in brand and event strategy, world-class creative, event technology, digital and logistics. The combination of Encore and PSAV creates tremendous opportunities for Encore to accelerate its growth and provide enhanced value to its clients, partners and world-class team. We wish our Encore colleagues continued success as part of PSAV moving forward.” Encore has a long and distinguished history dedicated to helping create high-impact meetings and live events for the hospitality industry. Encore operates as an in-house partner to some of the world’s leading resorts, hotels, as well as a creative production company for clients around the world. PSAV has an equally impressive history that includes more than 80 years as a global leader in event experiences. Its extensive footprint and menu of capabilities have effectively served its customers across the globe. About PSAV® PSAV is a global leader in event experiences, providing creative, production, advanced technology and staging services to help meeting professionals deliver more dynamic and impactful experiences at their meetings, trade shows and events. The team consists of more than 10,000 professionals across 1,600 on-site venue locations and 49 branch offices within the United States, Canada, Mexico, Europe, the Caribbean, and the Middle East. It is the trusted partner and on-site provider of choice at leading venues worldwide. PSAV was recently named to the Forbes 2019 America’s Best Employer list. The company is headquartered in Schiller Park, Ill. www.psav.com. About Encore Event Technologies Encore is a leading global provider of audiovisual, event technology, staging and production services. Encore serves as the in-house provider at more than 500 hotels, conference centers and resorts in North America and Asia Pacific. Encore Productions, the production division of Encore Event Technologies, is a full-service creative production company helping clients tell their stories around the world. For more information, visit www.encore-us.com, www.encore-anzpac.com and www.freemanav-ca.com. Bob Niersbach PSAV 847.385.3619 [email protected] Source: PSAV --BERNAMA |
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