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Search resuls for: "Bloomberg Global Business"


9 mentions found


NEW YORK (Reuters) - When Brian Moynihan took the reins at Bank of America Corp in 2010, the U.S. bank was reeling. Since then, Moynihan, 61, has not just righted the ship, but transformed Bank of America, leaving analysts, industry people and some investors wondering what - and who - comes next. That leaves Moynihan with a new challenge over the next few years: determining who would best replace him, and marketing that person to the world without alienating other senior executives. Yet it leaves Moynihan as the longest-tenured CEO on Wall Street who has not offered a crisp idea of who is next, analysts said. “Now that he has four or five years of runway left, investors should be rightfully saying, ‘Hmmm,’” said one former bank employee.
Persons: Brian Moynihan, Shannon Stapleton, Moynihan, , , Sydney Finkelstein, Ken Lewis, Finkelstein, “ You’re, ” Moynihan, Piper Sandler, Jeffery Harte, , ’ ”, Raul Anaya, Dean Athanasia, Cathy Bessant, Steve Boland, Alastair Borthwick, Jim DeMare, Andy Seig, PNC’s Mike Lyons, Mark Chancy, Moynihan’s, Tom Montag, Montag, Warren Buffett, ” Buffett Organizations: YORK, Bank of America Corp, Bloomberg Global Business, REUTERS, of America, Bank of America’s, Dartmouth’s Tuck School of Business, Bank of America, Wall, Bank of, Justice Department Locations: U.S, New York City , New York, Bank
Its votes could help hedge fund Engine No.1 gain seats on the board. The fund says Exxon continues to overspend on fossil fuels and lacks a clear strategy to prepare for a world demanding cleaner fuels. BlackRock also voted last year against two Exxon directors, citing a lack of progress in climate reporting. ‘CONSTRUCTIVE’ TALKSSome Exxon holders said the pressure is on BlackRock to uphold its tougher goals in voting Exxon shares this year. Engine No.1 “explicitly calls out” Exxon for failing to set so-called Scope 3, or customer emissions targets, she said.
Persons: Larry Fink, Shannon Stapleton, BlackRock, , Thomas DiNapoli, Bess Joffe, Exxon’s, Casey Norton, Kathryn Mulvey Organizations: HOUSTON, BlackRock, Exxon Mobil, Bloomberg Global Business, REUTERS, Exxon, Chevron, BP, Woodside Petroleum Ltd, Lewis, , New York, of, Union of Concerned Locations: BOSTON, BlackRock, New York, U.S, Paris, Thomas DiNapoli ., England
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks during the Bloomberg Global Business Forum in New York, on Wednesday, Sept. 25, 2019. A year ago, bank stocks were being pummeled for their perceived exposure to the coronavirus pandemic, pushing the 24-member KBW Bank Index down by as much as 50% from their start of 2020. This year, analysts have been busy revising the industry's earnings estimates upwards, thanks in part to expectations that banks will release some of the tens of billions of dollars in loan loss reserves set aside in 2020 and that reopening economies will drive spending and loan growth. In fact, Barclays analyst Jason Goldberg boosted first quarter 2021 earnings estimates by a median 16% last week for banks in his coverage, driven by reserve releases and his forecast for strong investment banking and trading results. He now thinks per share earnings will jump by a median 80% compared to the first quarter of 2020, when banks were forced to set aside money for expected loan losses.
Persons: Jamie Dimon, Jason Goldberg Organizations: JPMorgan Chase &, Bloomberg Global Business, KBW, Barclays Locations: New York
Ex-Blackrock exec starts row over value of sustainable investing
  + stars: | 2021-03-22 | by ( Ross Kerber | ) www.reuters.com + 0.00   time to read: +3 min
(Reuters) - A high-profile newspaper op-ed by a former BlackRock Inc executive questioned the value of sustainable investing in solving problems, prompting other industry analysts to defend the role of funds that push for change in environmental, social and governance (ESG) corporate policies. FILE PHOTO: Larry Fink, Chief Executive Officer of BlackRock, stands at the Bloomberg Global Business forum in New York, U.S., September 26, 2018. For instance in his article Fancy wrote that often funds are rebranded as “green” with few important changes. The debate comes as U.S. regulators look to crack down on firms overselling their ESG benefits while cash pours into sector. Although he had already decided ESG investing had little influence, Fancy said he grew more concerned as the COVID-19 pandemic spread and showed the power of governments was needed to force worldwide action.
Persons: Larry Fink, Shannon Stapleton, Tariq Fancy, BlackRock’s, , Jon Hale, Medium.com, Hale, Fancy’s, BlackRock “, FINK, Fancy, ” Fink Organizations: Reuters, BlackRock Inc, Bloomberg Global Business, REUTERS, ” Morningstar, USA, BlackRock, Bloomberg Locations: BlackRock, New York, U.S, Toronto
David Solomon, the CEO of Goldman Sachs, speaks during the Bloomberg Global Business Forum in New York, September 25, 2019. Goldman Sachs CEO David Solomon addressed junior bankers' complaints over heightened workloads in a message to employees, after the results from an internal survey where one employee called conditions "inhumane" went viral. Goldman Sachs previously instituted a policy that sought to protect weekends, where junior bankers were not expected to be in the office from Friday night to Sunday morning. We're accelerating our efforts to hire new junior bankers across Investment Banking. The survey was conducted after a group of disgruntled analysts banded together, according to people familiar with the matter.
Persons: David Solomon, Goldman Sachs, Solomon, Goldman, , Goldman's, We're Organizations: Bloomberg Global Business, CNBC, Investment Banking Locations: New York
BlackRock CEO says U.S. must roll out vaccines aggressively
  + stars: | 2021-01-21 | by ( Reuters Staff | ) www.reuters.com + 1.00   time to read: 1 min
FILE PHOTO: Larry Fink, Chief Executive Officer of BlackRock, stands at the Bloomberg Global Business forum in New York, U.S., September 26, 2018. REUTERS/Shannon Stapleton/File PhotoMILAN (Reuters) - The best measure of success for the new U.S. government of President Joe Biden will be the speed at which the vaccination rollout against the novel coronavirus is conducted, BlackRock CEO Larry Fink said on Thursday. The head of the world’s largest asset manager told an online event organised by a business forum linked to Italy’s G20 presidency that the new U.S. administration should be “aggressive” in rolling out vaccines to rebalance the economy. “The economy will accelerate ... (once) we feel safe and secure again,” he said.
Persons: Larry Fink, Shannon Stapleton, MILAN, Joe Biden, Organizations: Bloomberg Global Business, REUTERS, BlackRock Locations: BlackRock, New York, U.S
BlackRock CEO Fink expects market rally to continue in 2021
  + stars: | 2021-01-14 | by ( Reuters Staff | ) www.reuters.com + 0.79   time to read: 1 min
FILE PHOTO: Larry Fink, Chief Executive Officer of BlackRock, stands at the Bloomberg Global Business forum in New York, U.S., September 26, 2018. REUTERS/Shannon Stapleton/File PhotoNEW YORK (Reuters) - BlackRock Inc Chief Executive Larry Fink expects financial markets to continue to rally in 2021, he told Reuters on Thursday. With global interest rates low there is a great need for long-duration assets and public equities still remain the most opportunistic way to invest those, the head of the world’s largest asset manager Fink said.
Persons: Larry Fink, Shannon Stapleton, Fink Organizations: Bloomberg Global Business, REUTERS, BlackRock Inc, Reuters Locations: BlackRock, New York, U.S
NEW YORK (Reuters) - BlackRock Inc Chief Executive Larry Fink expects stocks to keep rallying in 2021, he told Reuters on Thursday. FILE PHOTO: Larry Fink, Chief Executive Officer of BlackRock, stands at the Bloomberg Global Business forum in New York, U.S., September 26, 2018. While there may be pockets of the market where valuations may be stretched, overall, there are opportunities in the global market, Fink said. I want to see the composition of this stimulus,” said Fink. Stimulus that is heavily oriented toward infrastructure would have a more lasting impact and be a huge job creator, Fink said.
Persons: Larry Fink, Shannon Stapleton, Fink, ” Fink, , Biden, Joe Biden Organizations: YORK, BlackRock Inc, Reuters, Bloomberg Global Business, REUTERS, BlackRock, COVID Locations: BlackRock, New York, U.S
Top finance stories from the week of November 23
  + stars: | 2020-11-28 | by ( ) www.businessinsider.com + 0.00   time to read: +6 min
On Thanksgiving afternoon, Vista Equity Partners dropped a press release announcing that the firm's No.2 exec, Brian Sheth, would be departing effective immediately. The two billionaires had worked together at Vista for more than two decades, turning the firm into a private-equity powerhouse. This week, Casey and Dakin also took a look at the Vista execs' ties to Austin real-estate developer Nate Paul, who's now at the center of an escalating scandal in Texas politics. If you're not yet a newsletter subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals. Customers can achieve as high as a 3% annual percentage yield if they save 20% of their deposits during a quarter.
Persons: Brian Sheth, Casey Sullivan, Dakin Campbell, Robert Smith, Sheth, Casey, Dakin, Austin, Nate Paul, who's, Samantha Lee, Reed Alexander, Sarah Diniz, James Cherubim, Matt Breitfelder, Anthony Keizner, Larry Fink, Rebecca Ungarino, Charles Schwab, Zach Bruhnke, Balogh, Dan DeFrancesco, HMBradley, Shayanne, Jack Newsham, They're, Sian Capital, Baker McKenzie Organizations: Vista Equity Partners, Vista, The, Bain Capital, Apollo Global Management, Group, Search, Bloomberg Global Business, BlackRock, Aperio, Fintech Challenger, pharma, Opko Health, Big Law Locations: Vista, Texas, BlackRock, New York, California
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