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☆ Merrill's Lindsay Hans and Eric Schimpf were thrust to the top of the $3.3 trillion wealth unit last year. Here's a look at their new playbook.
▼ + stars: | 2024-04-22 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +9 min

Thirteen months ago, Andy Sieg unexpectedly left Merrill Wealth Management to run Citi's ailing wealth unit. His replacements, Lindsay Hans and Eric Schimpf, had big shoes to fill. Hans and Schimpf were company veterans but lesser known before they were anointed to lead the $3 trillion wealth business attached to behemoth Bank of America. Schimpf is more soft-spoken than his cohead Hans, who was promoted to run the private wealth business one month before Sieg left. AdvertisementMerrill has the benefit of being part of a bank with some 69 million consumer bank clients.

Persons: Andy Sieg, Lindsay Hans, Eric Schimpf, Merrill, Hans, Schimpf, Sieg, Lindsay, it's, Sieg's, Louis Diamond, Schimpf's, Hans said, AdvisorHub Organizations: Service, Merrill Wealth Management, behemoth Bank of America, Business, Merrill, Army, UBS, Schimpf, Northeast, Merrill . Bank of America, Bank of America, Customers, Bank of, First, JPMorgan Locations: Los Angeles, Coast, New York City, Nevada, First Republic, Merrill

☆ A new AI detection tool may have solved the problem of false positives for student writing, researchers say
▼ + stars: | 2024-01-24 | by ( Kali Hays | ) www.businessinsider.com time to read: +6 min

The researchers tested Binoculars on large sets of data compiled of news writing, creative writing, and student essays. As generative AI tools like ChatGPT explode in popularity, concerns have grown about students using AI to complete academic work while passing it off as their own. At the same time, many students have been wrongly accused of using AI, based on results of AI detection tools. Last year, schools and universities began disabling such AI detection tools. The researchers claimed Binoculars' method corrects for the role a person prompting an AI tool plays in the output, which has been pointed to as a cause for false positives in AI detection tools.

Persons: they've, Abhimanyu Hans, Dustin Moskovitz, Abu Dhabi's Falcon, Hans, Perplexity Organizations: Business, University of Maryland, Vanderbilt University, Carnegie Mellon University, New York University, Tübingen AI, Capital, Amazon Research

[1/2] The headquarters of the U.S. Securities and Exchange Commission (SEC) is seen in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021. A lawyer for Stoner Cats did not respond immediately to requests for comment. Stoner Cats is an adult animated series about house cats that become sentient after being exposed to their owner's medical marijuana, which is used to alleviate early Alzheimer's symptoms. The NFTs provided holders with exclusive access to watch "Stoner Cats" online.

Persons: Andrew Kelly, NFTs, Jane Fonda, Mila Kunis, Ashton Kutcher, Seth MacFarlane, Chris Rock, Stoner, Carolyn Welshans, Jonathan Stempel, Chris Prentice, Deepa Babington Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Stoner, U.S, Securities, SEC, Investors, Stoner Cats, Thomson Locations: Washington ,, New York

☆ Fox News paid a record-breaking sum to settle Dominion's defamation lawsuit. Smartmatic could get even more money.
▼ + stars: | 2023-07-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

The settlement Fox News may pay to Smartmatic could be around $1 billion, experts say. Disney's $177 million settlement for the infamous "pink slime" lawsuit in 2017 dropped to second place. Experts told Insider that the $787.5 million settlement is a strong benchmark for Smartmatic — and that Smartmatic will likely get more. Either way you slice it, using those baseline numbers brings you above the $787.5 million figure Fox paid to settle Dominion's lawsuit. "It's hard to extrapolate from the Dominion case in part because it never got litigated," Hans said.

Persons: Smartmatic, Erik Connolly, Connolly, Donald Trump, Sidney Powell, Rudy Giuliani, Joe Biden, Powell, Giuliani, Fox, Clay Calvert, James Goodale, Smartmatic's, Rupert Murdoch, Victoria Jones, Calvert, Erik McGregor, Hans, Goodale, Plimpton, De, Murdoch Organizations: Fox News, Dominion, Dominion Voting, Trump, Fox, American Enterprise Institute, New York Times, Fox Corp, Getty, Cornell Law, Debevoise Locations: cahoots, Delaware, New York, Washington ,, Africa, Europe, Smartmatic, Fox News's, York

☆ How Tucker Carlson could be Smartmatic's star witness in its $2.7 billion defamation lawsuit against Fox News
▼ + stars: | 2023-06-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Ever since he was fired from Fox News, Tucker Carlson has been trying to escape from the network's grip. Carlson has a potential ace up his sleeve: becoming a friendly witness for Smartmatic in its pending $2.7 billion lawsuit against Fox News. Fox fired Carlson just days after it agreed to pay $787.5 million to settle a defamation lawsuit from Dominion Voting Systems. The judge previously ordered Fox to give Smartmatic all the discovery evidence in the Dominion lawsuit, handing Smartmatic a powerful weapon already. Fox News has contended that its actions are protected by the First Amendment and called Smartmatic's lawsuit an assault on free speech.

Persons: Tucker Carlson, Carlson, —, Fox, Smartmatic, Rudy Giuliani, Sidney Powell, Donald Trump, Joe Biden, Smartmatic's, Giuliani, Powell, Clay Calvert, Tucker, Gautam Hans, Fox shouldn't, Hans, it'll, Jason Koerner, " Carlson, Calvert, nonresident, he's, He's Organizations: Fox News, Service, Twitter, Dominion Voting Systems, Dominion, New York Times, Fox, Cornell Law School, News Corp, American Enterprise Institute Locations: Smartmatic, cahoots, Washington ,, New York

☆ Tucker Carlson could play a starring role in Smartmatic's $2.7 billion defamation lawsuit – and Fox News should be terrified
▼ + stars: | 2023-06-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Carlson has a potential ace up his sleeve: becoming a friendly witness for Smartmatic in its pending $2.7 billion lawsuit against Fox News. Fox fired Carlson just days after it agreed to pay $787.5 million to settle a defamation lawsuit from Dominion Voting Systems. The judge previously ordered Fox to give Smartmatic all the discovery evidence in the Dominion lawsuit, handing Smartmatic a powerful weapon already. Fox News has contended that its actions are protected by the First Amendment and called Smartmatic's lawsuit an assault on free speech. "He's obligated to tell the truth regardless of whether he had been fired," Calvert said.

☆ Meet the new co-heads of Merrill Lynch as Andy Sieg exits to jump-start Citi's wealth business
▼ + stars: | 2023-03-30 | by ( Hayley Cuccinello | Rebecca Ungarino | ) www.businessinsider.com time to read: +4 min

Merrill Lynch head Andy Sieg is leaving to lead rival Citi's wealth management business. Sieg is leaving for rival bank Citi, where he faces a big challenge when he starts in September: improving Citi's wealth business, which has lagged behind competitors like Merrill and Morgan Stanley Wealth Management. New battles await both Sieg at Citi, where he will be head of Citi Global Wealth, and his successors at Merrill. The move was made after the wealth business had missed revenue targets, the Wall Street Journal reported. Citi CEO Jane Fraser described the wealth management unit's performance as "disappointing" on a call to discuss earnings in January.

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