Instant Analysis: AIG Unloads Lloyd's-Related Assets in $1.1 Billion Deal

AIG | September 20, 2016

Insurance giant American International Group (NYSE:AIG) is about to slim down a bit. The company has reached an agreement to sell Ascot, its Lloyd's of London platform, to the Canada Pension Plan Investment Board. The sale comprises AIG's 20% stake in specialty insurer Ascot Underwriting Holdings and its full stake in an associated unit, funding vehicle Ascot Corporate Name.

Spotlight

A universal bank participates in many kinds of banking activities and is both a commercial bank and an investment bank as well as providing other financial services such as insurance. These are also called full-service financial firms, although there can also be full-service investment banks which provide wealth and asset management, trading, underwriting, researching as well as financial advisory. The concept is most relevant in the United Kingdom and the United States, where historically there was a distinction drawn between pure investment banks and commercial banks. In the US, this was a result of the Glass–Steagall Act of 1933. In both countries, however, the regulatory barrier to the combination of investment banks and commercial banks has largely been removed, and a number of universal banks have emerged in both jurisdictions. However, at least until the global financial crisis of 2008, there remained a number of large, pure investment banks.

Spotlight

A universal bank participates in many kinds of banking activities and is both a commercial bank and an investment bank as well as providing other financial services such as insurance. These are also called full-service financial firms, although there can also be full-service investment banks which provide wealth and asset management, trading, underwriting, researching as well as financial advisory. The concept is most relevant in the United Kingdom and the United States, where historically there was a distinction drawn between pure investment banks and commercial banks. In the US, this was a result of the Glass–Steagall Act of 1933. In both countries, however, the regulatory barrier to the combination of investment banks and commercial banks has largely been removed, and a number of universal banks have emerged in both jurisdictions. However, at least until the global financial crisis of 2008, there remained a number of large, pure investment banks.

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FINANCIAL MANAGEMENT,FINTECH

Global Fintech Company Givex Completes Acquisition of Counter Solutions

Givex and Counter Solutions | August 16, 2022

Givex Information Technology Group LTD has completed the purchase of all of the outstanding shares of Counter Solutions Holdings LTD. "The acquisition of Counter Solutions marks the fourth acquisition for Givex in the last 18 months, which showcases our commitment to strategic international growth, Counter Solutions' products complement the Givex portfolio and allow us to add unattended retail functionality to our current POS and kiosk offerings." -Don Gray, CEO of Givex Founded in 1989, UK-based Counter Solutions offers many technology solutions that align with Givex's products, including POS, kiosk and digital ordering, inventory management and more. Givex was attracted to Counter Solutions' WAY2PAY self-service & smart-refrigeration platform, which allows customers to unlock refrigerators by preauthorizing a debit or credit card on a pin pad, and select, scan and pay for their items themselves. Now, with the support of Givex's end-to-end technology platform and deep team, Counter Solutions can seamlessly offer Givex products, like GivexPOS, online ordering, kitchen display system (KDS) and more, to its roster of enterprise clients without having to create partnerships with various external partners. Counter Solutions is the perfect complement to the Givex product suite and team, which expands our global footprint, We have made major headway in our growth in the UK and throughout Europe, and the Middle East and this acquisition offers another opportunity to expand the breadth and depth of our clients under one common platform,said Jurgen Ketel, Managing Director of Givex EMEA. Counter Solutions counts some of the biggest brands in the UK as clients, including Morrisons, Marks & Spencer, John Lewis & Partners and Waitrose & Partners, and will add approximately 1,000 merchant locations to Givex's global footprint of more than 115,000 merchant locations using at least one Givex service. The acquisition will be paid for through a combination of cash, debt and GITL shares (subject to the final acceptance by the Toronto Stock Exchange) and total consideration will be consistent with prior acquisition multiples and terms. Our significant progress over the last two years has led to the consideration of how we scale up our operations in line with our vision and values, We have found the right home with Givex, and there is a huge opportunity to leverage each other's strengths and fast-track our growth. Givex offers the best elements of a global enterprise such as brand, scale and resources, whilst retaining the best elements of smaller or emerging enterprises, such as agility and community. We are excited to progress this journey and join forces with Givex,said Richard Bernans, Managing Director of Counter Solutions Group. About Givex Givex is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. We are integrated with 1000+ technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world's largest brands, comprising approximately 115,000+ active locations across more than 100 countries. About Counter Solutions Counter Solutions create connected digital experiences for the retail & hospitality sectors, helping brands implement self-service technology solutions to improve their customer experience & drive productivity gains. Their WAY2PAY platform comprises of self-order, self-checkout, smart refrigeration & menu management technology and is trusted by many leading enterprise retailers within the UK.

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FINANCIAL MANAGEMENT,WEALTH MANAGEMENT

Taulia and Standard Chartered Sign MoU to Advance Working Capital Management Solutions and Strengthen Financial Supply Chains

Taulia and Standard Chartered | September 22, 2022

Taulia, a leading provider of working capital solutions, and Standard Chartered have signed a memorandum of understanding (MoU) to collaborate across a range of working capital finance solutions, with an initial focus on the provision of supply chain finance and dynamic discounting. This marks the first MoU that Taulia has signed with a banking institution, following SAP’s acquisition of Taulia. As part of the agreement, both parties will look to offer supply chain finance and dynamic discounting solutions, enabled by Taulia’s market-leading front-end platform and deeply integrated technology. Combined with the strength of Standard Chartered’s global presence especially in the emerging markets, trade finance expertise and deep client relationships, the collaboration will help clients enhance the resilience and sustainability of their supply chains, by enabling their suppliers to gain access to working capital more efficiently and cost effectively. Through the collaboration, Standard Chartered and Taulia will join forces to extend the reach of their working capital finance solutions across both existing and new client networks, especially multinational companies that require the expertise and support at a global and local level. This will be further strengthened through Taulia’s recent acquisition by SAP, which will unlock further opportunities across SAP’s growing ecosystem to deliver a differentiated experience for buyers and suppliers. “We are proud to announce the signing of the MoU with Standard Chartered and this marks another milestone in Taulia’s journey to grow our bank network and work closely with our partners to deliver working capital solutions for all of our clients, We believe that all CFOs should focus on their cash strategy to ensure growth during these turbulent times and our partnership with Standard Chartered will deliver cash when and where it is needed, especially in emerging markets.” -Thomas Mehlkopf, Head of Working Capital Management CoE at SAP and member of the Taulia Leadership Team Ensuring our clients are managing their working capital efficiently is a key priority in ensuring that their businesses grow sustainably, especially with the complexities and challenges in today’s supply chains, We are excited to work with Taulia to explore new and innovative ways to support our clients’ working capital needs, as well as extending the Bank’s leading sustainable trade expertise into their business network. Taulia’s footprint also complements that of the Bank, offering greater opportunities for us to support companies in the West with their supply chain flows into Asia, Africa and the Middle East,said Kai Fehr, Global Head of Trade & Working Capital, Standard Chartered. About Taulia Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables, and inventory. A network of more than 2 million businesses use Taulia’s platform to determine when they want to pay and be paid. Taulia enables its customers to execute their working capital strategies, support their suppliers with early payment, and contribute to building sustainable supply chains. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca, and Nissan. In March 2022, Taulia became part of SAP. Taulia operates as an independent company with its own brand in the SAP Group. Standard Chartered We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets, and serving clients in a further 83. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

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FINANCIAL MANAGEMENT

TIFIN and ETFMG announce expanded partnership to promote thematic ETFs to active investors and advisors on Magnifi

TIFIN and ETFMG | August 19, 2022

TIFIN, a fintech platform using artificial intelligence (AI) and investment-driven personalization to shape the future of investor experiences, today announced a new fund marketing and distribution partnership with ETF Managers Group. ETFMG is a thematic ETF issuer founded in 2014 with a vision of developing innovative thematic exchange-traded funds (ETFs) that provide investors unique exposure to new and emerging markets. This adds to TIFIN's embed investment partnerships which now has over 40 leading investment managers sponsoring 90+ funds across their ecosystem. "TIFIN, including through its Magnifi marketplace, is undeniably innovating through its proprietary technology, to make it easier for investors to search for themes and identify the investment opportunities that matter to them, The ETF world offers thousands of choices, making it a challenge for investors to navigate. Simply said, Magnifi helps investors make smarter decisions and we are thrilled to be partnering with TIFIN in support of this common goal." -Sam Masucci, CEO and Founder of ETFMG This new partnership will see ETFMG promoting a series of thematic ETFs across Cannabis, Travel, Cybersecurity, and Precious Metal themes within TIFIN's Magnifi Investment Marketplace to over 140k registered users. Each fund will be placed in a primary position to all search results that relate back to each of the thematic areas. Magnifi users conduct over 2.5 million investor queries per week as of August 2022. In addition, the two firms will work on a series of co-marketing initiatives to promote ETFMG to both active advisor and individual investor communities. This partnership builds on an existing relation between ETFMG and TIFIN, as their BDRY and BSEA ETFs are currently part of a thematic investment marketplace within the TIFIN Wealth platform used by over 1,000 Advisory Firms to match funds to client proposals based on insights from their financial planning, personality, and risk tolerance needs. We are delighted to partner with Sam Masucci and the ETFMG team to bring their revolutionary thematic ETFs to the forefront of our Magnifi marketplace, This partnership will bring value to our user base by promoting these leading ETFs adjacent to the thematic intelligence and insights across Magnifi,said Jack Swift, President and CRO of TIFIN. About ETFMG®: ETFMG is a provider of exchange-traded funds (ETFs), founded in 2014 with a vision of developing innovative thematic ETFs that provide investors unique exposure to new markets. Today, the ETFMG fund line up provides access to a diverse collection of global themes and is comprised of 75% first to market products. We turn portfolio management strategies into successful ETFs by partnering with market segment experts to bring long-term growth opportunities to investors. ETFMG funds are proof as to the power of the ETF wrapper and that thematic products can have a place in investors' portfolios. About TIFIN: TIFIN is an AI-powered fintech that leverages data science, investment intelligence, and technology to deliver engaging and personalized investor experiences. By connecting individuals to advice and investments, TIFIN bridges the gap between investors, their trusted intermediaries, and asset managers. Founded in 2018 by Dr. Vinay Nair, a former Wharton Professor and successful entrepreneur, TIFIN was created to help make investing a powerful driver of financial well-being by eliminating frictions investors face. TIFIN manages Magnifi, a search-powered marketplace for investments; TIFIN Wealth, a platform for advisors, wealth managers, and other intermediaries to deliver better individual outcomes; Financial Answers, a digital platform of investor communities; all powered through Distill, a central digital distribution and insights engine using TIFIN's data platform.

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