Monthly Archives: August 2012

2012
08/30

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Finance

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Austin’s average finance professional makes $65000

Austins average salary in the financial sector is $65,300, a new analysis shows.

That ranks the Capital City No. 39 among the 115 metropolitan areas that contain at least 10,000 private-sector businesses in all industries, according to a Business Journals’ On Numbers analysis of US Census Bureau data.

Austins 2,950 finance-sector businesses employ 33,102 people who make a combined $2.2 billion. Austin ranks No. 31 for number of finance-sector businesses.

The latest data is from 2010, and the finance and insurance sector encompasses banks, stockbrokerages, credit agencies, employee benefit funds and insurance agencies.

The top market for finance-sector pay is Bridgeport-Stamford, Conn., where the average salary is $238,400. New York City, San Francisco-Oakland and Boston are the only other markets where the average salary exceeds $100,000. Chicago, Los Angeles and Washington, DC, have average salaries between $90,000 and $100,000.

Overall, the average finance-sector salary among the 115 metros is $88,400. The 329,799 finance-sector businesses in these metros employ 4.69 million people who make $414.53 billion.

2012
08/29

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Finance

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VOLTA FINANCE – JULY MONTHLY REPORT

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

*****

Guernsey, 23 August 2012 – Volta Finance Limited (the Company or Volta Finance or Volta) has published its monthly report. The full report is attached to this release and is available on Volta Finance Limiteds financial website (www.voltafinance.com).

Gross Asset Value

2012
08/28

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Finance

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National Finance’s Banbrook blames Ludlow – court

Guilty National Finance director Anthony Banbrooks sentencing wasdelayed a second time as he tries to blame the firms jailed boss, Trevor Ludlow, to lessen his own culpability.

2012
08/28

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Finance

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BMO Harris Dealership Finance Team Expands Into Virginia

ROCKVILLE, Md., Aug. 22, 2012 — /PRNewswire/ — BMO Harris announced today that its Dealership Finance team is expanding into Virginia with the hiring of Jeff Carmines as Director, Commercial Dealership Finance, BMO Harris Bank. #xA0;Carmines will focus primarily on business development in the Greater Washington Area, Maryland and Virginia, although he will also have responsibilities for the surrounding states as well.

Auto dealers are looking for a bank that understands their unique financial needs and can offer a wide variety of solutions, and thats exactly what we offer at BMO Harris Bank, said Ghram Debes, Managing Director, Head of Dealership Finance. Jeff brings to his new role an optimal combination of experience, expertise and local market knowledge.

The BMO Harris Dealership Finance team already has offices in Chicago, Milwaukee, Minneapolis, Tampa, Indianapolis, Kansas City, St. Louis, Joliet and Crown Point, and has plans to continue to expand into new markets.#xA0; BMO Harris parent company, BMO Financial Group, has been actively serving the financial needs of auto dealers for the last 35 years.#xA0;

About Jeff Carmines Jeff Carmines has a banking career that spans 28 years with 24 of those years managing Automobile Dealer relationships.#xA0; Most recently he spent twelve years at SunTrust Bank, where he was responsible for the growth and management of a large portfolio of auto dealerships in the Greater Washington area of Maryland and Virginia. Previously, he managed a national Auto Dealer portfolio for JM Family Enterprises.

About BMO Harris Bank Based in Chicago, BMO Harris Bank NA provides a broad range of personal banking products and solutions through over 650 branches and approximately 1,350 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. #xA0;BMO Harris Banks commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the US#xA0;#xA0;Deposit and loan products and services provided by BMO Harris Bank NA Member FDIC. BMO Harris Bank(SM) is a trade name used by BMO Harris Bank NA#xA0;BMO Harris Bank is part of BMO Financial Group, a North American financial organization with 1,600 branches, and a retail deposit base of approximately $180 billion.

SOURCE BMO Harris Bank

2012
08/27

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Finance

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Invoice finance hot again as online exchanges fill bank gap

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  • * Companies head online for funding as banks retreat
    * Investors invoices returns better than stocks and bonds
    * Invoice financing: more than 1 trillion euros last year
    By Kylie MacLellan
    LONDON, Aug 23 (Reuters) – A new twist on an old way…

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2012
08/27

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Finance

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Bernanke Given ‘B’ Grade in Global Finance Central Bank Study

Federal Reserve Chairman Ben S. Bernanke received a “B” in Global Finance magazine’s annual
grading of the world’s central bankers.

Bernanke’s grade was raised from “C” in 2011, while Mario Draghi was given a “B-” in his first year as president of the
European Central Bank, the magazine in New York said by e-mail
today. Bank of Japan (8301) Governor Masaaki Shirakawa received a “C-
,” down from last year’s “C,” while Mark Carney of Canada,
Glenn Stevens of Australia, Israel’s Stanley Fischer, Zeti Akhtar Aziz of Malaysia, Amando Tetangco of the Philippines and
Taiwan’s Fai-Nan Perng were awarded an “A.”

The report card for central bankers of 50 nations and the
ECB, first published in 1994, was based on their scale of
success in areas such as controlling inflation, meeting economic
growth goals and managing interest rates. The report was
published a week before Bernanke, Draghi and counterparts from
around the world arrive in Jackson Hole, Wyoming, for an annual
monetary-policy symposium.

“During one of the toughest years on record, the world’s
central bankers were tested as never before,” Global Finance
publisher Joseph Giarraputo said.

Argentina’s Mercedes Marco del Pont and Pedro Delgado of
Ecuador were graded the lowest, with a “D.”

To contact the reporter on this story:
Simon Kennedy in London at
skennedy4@bloomberg.net

To contact the editor responsible for this story:
Craig Stirling at
cstirling1@bloomberg.net

2012
08/26

Category:
Finance

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Small-Business Finance Platform On Deck Raises $100 Million

Its an election year, which means that as the political campaigns get under way in earnest after Labor Day and the party conventions begin, well be hearing a lot about small business and Main Street and the relative state of their economic health.

Intuition and the general state of the economy would tell you that small businesses are still challenged, some would say by over-active government policy; others would say by a lack of access to capital. Small businesses have, in recent years, had a hard time getting banks to finance loans, mainly because banks look at small business loans as more akin to personal loans, and thus consider the owners personal credit information rather than the state of the business itself.

Last year, I wrote bit about a start-up intending to change that. On Deck Capital created a technology platform aimed at making it easier for lending banks to gather the data they need to properly vet a loan candidate, and for helping that business make payments.

On Deck today announced that it has raised nearly $100 million in new funding. The funding is being led by Goldman Sachs and Fortress Credit Corp., which have committed an $80 million debt facility. Meanwhile, SF Capital and Lighthouse Capital Partners have put in $17 million in venture debt loans. The capital is giving On Deck more capacity to make loans, and demand has been healthy. The company delivered more than $100 million in loan volume over the last 10 months.

Prior investors include SAP Capital, Contour Venture Partners in New York, First Round Capital, Khosla Ventures, RRE Ventures and Village Ventures.

2012
08/26

Category:
Finance

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Top Priorities for Finance Executives Include Improving Competitive and …

MENLO PARK, Calif., Aug. 23, 2012 /PRNewswire/ –#xA0;Improving business and competitive intelligence capabilities and shared services governance rank among the top priorities for todays finance executives and staff, according to the results of the 2012 Finance Priorities Survey (www.protiviti.com/FinanceSurvey) conducted by Protiviti, a global consulting firm. The research identifies priorities, capabilities and key areas of focus for todays finance professionals.

(Logo: http://photos.prnewswire.com/prnh/20090115/AQTH541LOGO)

In the financial analysis category of the study, competitive intelligence (eg, competitors, suppliers, regulatory environment, geopolitical climate, etc.) ranked as the top area of focus, with business intelligence (operations reporting) and executive dashboards tied for the second spot. These three results indicate that finance professionals are being asked to take the lead in strengthening overall intelligence capabilities to equip executive teams with a more holistic and actionable blend of internal and external insights.

A robust competitive intelligence capability enables companies to scrutinize the external landscape continually for information that decision-makers need to identify new growth opportunities and minimize and/or avoid strategic risks, said James Pajakowski, executive vice president of global risk solutions for Protiviti.

Other areas of focus in the financial transactions category of the study are:

  • Corporate chargeback allocation methodologies
  • Overall shared services governance
  • Performance management/operating metrics

Regarding shared services governance, Ryan Senter, a managing director with Protiviti, said: Finance departments appear intent on moving their shared services organizations beyond a lift and shift approach to a more mature strategy that expands the scope of business services and increases overall efficiency for organizations.

Among other notable takeaways from the Protiviti study:

  • Strengthening financial risk management is a top concern amid ongoing macroeconomic uncertainty
  • While finance executives and staff are focusing more on strategic activities, complex transactional issues also rate as top priorities, placing increased pressure on finance functions to make traditional, transaction-heavy processes as efficient as possible, thus freeing up more time for financial analysis and business decision-support activities
  • International/transfer pricing regulations is a top priority area for finance departments in large companies (those with $1 billion+ in revenue) after not ranking this high in the 2011 study

The finance executives #x2013; including CFOs, vice presidents and directors of finance and controllers #x2013; and other professionals that participated in Protivitis 2012 Finance Priorities Survey represent virtually all industry sectors. The most represented sectors were financial services and manufacturing. More than 40 percent of survey respondents work for organizations with $1 billion or more in annual revenues. Respondents answered more than 100 questions in three categories: process capabilities (including financial transaction and financial analysis activities); technical capabilities (including competencies related to regulatory compliance); and organizational capabilities (personal skills).

This edition of Protivitis 2012 Finance Priorities Survey is available for complementary download at www.protiviti.com/FinanceSurvey. Additionally, a podcast discussing highlights from the survey is also available on the Protiviti website at www.protiviti.com/podcasts.

About Protiviti

Protiviti (www.protiviti.com) is a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit. Through its network of more than 70 offices in over 20 countries, Protiviti has served more than 35 percent of FORTUNE#xAE; 1000 and Global 500 companies. The firm also works with smaller, growing companies, including those looking to go public, as well as with government agencies.

Protiviti is a wholly owned subsidiary of Robert Half International Inc. (NYSE: RHI). Founded in 1948, Robert Half International is a member of the SP 500 index.

Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.

Editors note: Infographic of high-level survey results available in JPEG and PDF.

SOURCE Protiviti

2012
08/26

Category:
Finance

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Personal Finance Tips You Should Rethink

It seems like everyone from bloggers to your next-door neighbors doles out financial advice these days. It can be difficult figuring out who to believe, and bad tips can pop up as frequently as thunderstorms in the summertime. In fact, some seemingly sensible advice can turn out to be a bad idea of the highest magnitude, and some conventional wisdom really isnt. Even widely held beliefs can turn out to be clunkers, as this roundup from financial experts illustrates.

LIST: 10 Ways to Improve Your Financial Health

2012
08/25

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Finance

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Colombia’s president replaces finance minister

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  • * Santos names current energy minister Cardenas as finmin
    * Cardenas will also be central bank board member
    * More cabinet changes are expected in coming days
    * Colombia economy is showing signs of moderation
    By Jack Kimball and Helen Murphy
    BOGOTA,…

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