Month: August 2018

banking brands
Banking

Bet on emotion in the battle of the banking brands

Bet on emotion in the battle of the banking brands

Yelena Gaufman, Strategy Partner, Fold7

The ongoing disruption of banking is a well-documented process, and depending on who you ask the outcome is a foregone conclusion. Though the likes of Monzo, Revolut and Starling offering compelling new visions of financial services, there’s more to these brands’ success than innovation alone.

With an Accenture report released earlier this year suggesting U.K consumer trust in banks is at its highest level since 2012, challenger banks are themselves challenged to prove their credibility and value proposition to a wider audience. Where traditional bank brands appeared to have been outmanoeuvred by digital-first rivals, they may yet steal a march on their disruptors by capitalising on a deeper emotional connection.

 

Building on trusted foundations

Where money is concerned, trust in the authority handling it is critical. Despite nimbler challengers and their ability to jump-start innovation quickly, it’s here that incumbents have the advantage. Their legacy of the brand and the institution behind it stands them in good stead as authorities to trust.

From this trust springs opportunity as existing bank brands can leverage the services they already offer to create walled-garden eco-systems that provide value to a range of customers. When banks really start to make use of the data sharing opportunities presented by legislation such as PSD2, they could leverage an array of services and partnerships to add more value to their customers.

So perhaps the battle isn’t as one-sided as it may have first seemed. But, for both sides, fully harnessing the potential of innovation means first figuring out who they want to be, and who they should be trusted by.

What makes people commit to one brand over another, and can override commodity and convenience? Emotional connection.

 

Branding for growth

Neobanks gained an early lead for the freshness and range of utilities they provide. But being feature-led throws up a new challenge: what defines their work, above and beyond the new and the useful?

As new banking and fintech brands hustle to engage new audiences, they must consider a deeper story to tell than of innovation alone. We need to know what their innovations are for – who are they serving? What role do they fulfil in our lives? The art of defining that story is in tying together the operations of a business with its product or service and a sense of purpose to the wider world.

For banking brands, a compelling brand story becomes a tool for showing new customers what they might want to buy into, but it is also useful for the business itself. Done properly, a well-formed brand becomes a strategic prism through which future business decisions can be understood. Is it right to implement feature X versus Y, based on what you stand for and the customers you choose to serve? Or in a crisis, how do you respond to customers and seek to make things right?

These answers should always come back to your brand and the emotional relationship you wish to maintain with your customers. It’s rarely a one-size-fits-all formula.

 

Demonstrating your worth

But how do you prove brand and purpose? It starts with understanding the context of your offering in the lives of your audience.

The 2000’s were a boom period for web start-ups which used increasing user connectivity to supply a new range of internet-powered services we’d never encountered before. So all manner of sites cropped up offering comparison, aggregation, ecommerce, community, entertainment and much more.

 

But as a highly competitive marketplace emerged for each of these kinds of websites, functionality on its own wasn’t a compelling means of distinguishing one from another. So the businesses behind these services had to think differently about the way they operated.

 

Fast forward to today and the vast field of nascent web 2.0 consumer businesses has shrunk massively. Those which thrive today managed to redefine their role to users, embedding the brand and its offering more deeply in our lives through emotional relationships over and above utility.

 

Rightmove’s recent ‘When life moves’ campaign (disclosure: created by Fold7), demonstrates one means of doing this. The campaign is all about our needs and desires, which change with our life stages, and how our dream of a perfect home changes alongside them. Rightmove tapped into the universal need to embrace change and sought to support its customers in that process as an active collaborator.

So RightMove successfully turned its suite of tools into a means of facilitating the hopes and dreams of its users. The result is a brand which is not just relevant to so many of us, but which we feel comforted and empowered by when we turn to it.

This is a fascinating juncture for both incumbent banks and their newer rivals, as the financial services industry opens up with new opportunity. While older brands have scale on their side and a legacy to leverage, start-ups founded on utility are arguably closer to their customer needs. If they can apply the right brand lens to their work today, we may be looking at a radically different banking landscape in the years to come.

Robotics and AI
Banking

Future-Proof Your Portfolio with Robotics and AI

Future-Proof Your Portfolio with Robotics and AI

By Travis Briggs, CEO, ROBO Global

Robotics, automation, and artificial intelligence—or RAAI—is one of the most fascinating sectors today. After all, who doesn’t get excited when talking about real-life robots and how they are transforming how we live, work and play in our everyday lives? But for investors, RAAI is much more than just a fantastical, childlike look into the future of robots. Just as computers and the Internet created a digital revolution that has transformed nearly every aspect of our lives, RAAI is bringing about a robotics revolution that promises to be even larger and drive even greater change. That’s why, at a time when every investor is seeking ways to help mitigate market risk and help drive the potential for long-term returns, many are looking to robotics and AI to help future-proof their portfolios.

 

What makes RAAI particularly promising from an investor’s perspective is that its applications and technologies are fundamental to the growth of nearly every industry and every geography around the world. Here are just a few examples of how RAAI is transforming ‘business as usual’ while rewarding investors:

 

  • Cybersecurity (+45% in 12 months)

With the rise of the digital age has come a parallel rise in cybercrime—and a fast-growing need for cybersecurity. Today, companies specialize in a vast menu of applications and technologies that use AI to help battle cybercrime such as ransomware, fileless malware, and nation-state attacks. Facebook’s data breach is just the most recent in a long string of major, highly publicized breaches that put users’ personal information in the hands of cybercriminals and resulted in serious financial consequences for the companies that have been hit. Because preventing cyberattacks is a top priority for companies of every size, demand for security solutions is driving up stock prices across this growing sector.

 

  • Healthcare (+28% in 12 months)

Innovations in healthcare robotics have helped drive up and sustain stock prices and investor returns. While the numbers are certainly making investors happy, patients are clearly the biggest winners. Healthcare robotics are making it possible to identify, invent, investigate, and implement technologies that deliver the right treatment to the right patient at the right time—and at the right cost. The wheels are already in motion to use robotics to take patients from symptom to diagnosis to treatment in a single day. Today, a surgical robot can slice a tiny grape into four perfect quadrants, peel the grape to remove precisely 1/100th of a centimeter of skin, and leave the rest of the grape perfectly in tact. This level of sub-millimeter accuracy was unthinkable just a decade ago. Handheld, intelligent computers are being used to sense, compute and record a patient’s health status. At this rate of innovation, the benefits for patients and investors alike are expected to continue to increase.

 

  • Logistics Automation (+22% in 12 months)

Amazon continues to make headlines for its innovations on the warehouse floor, but it’s certainly not alone in its quest to automate logistics processes to help drive down costs and drive up service. Logistics automation has not only had a major impact on customer expectations, but it has also rewritten the list of winners and losers in the retail space. Retailers who are investing in solutions to automate and rethink logistics in the warehouse and across the supply chain are winning market share at a rapid pace. Because logistics automation is expected to dictate tomorrow’s market leaders, the demand for new solutions is on the rise, and the industry as a whole is continuing to push the boundaries of innovation.

 

RAAI is driving fundamental change in unexpected areas as well. Agricultural robots can now determine when an individual plant needs a specific nutrient, is fighting a disease, or is battling an infestation, and can then determine what action to take (such as adding a nutrient to the water for a single plant). They can even be taught how to pick and pack even the most delicate fruits and vegetables with less damage than a human worker. Japan’s robotic caretakers are now being used to support Japan’s overburdened healthcare workforce by helping to manage medical adherence, providing much-needed entertainment and companionship, leading exercise and rehabilitation programs, and more.

 

Artificial intelligence is using the recent flood of Big Data to fuel its own renaissance. Netflix uses AI-generated algorithms to deliver search results that are matched to each user’s viewing habits, driving up sales and saving the company billions of dollars in potential lost revenue. Google relies on AI to translate the massive amounts of data it collects from the posts, comments, and search queries of its more than 1 billion users. From entertainment to insurance to self-driving cars, AI and Big Data are playing a growing and vital role.

 

While many investors are aware of robotics and AI as a market sector, only those who are aware of how deeply these fundamental technologies extend into every area of our world understand the potential it presents from an investment perspective. That reach can’t be overstated. For investors, that makes investing in RAAI an attractive strategy to capitalize on the potential for growth while helping to manage risk and provide attractive, risk-adjusted returns. The result: a portfolio that is truly future-proof by taking advantage of all the future has to offer.

Issues

Issue 8 2018

Welcome to the eighth issue of Wealth & Finance International Magazine, which is dedicated to providing fund managers, institutional and private investors from around the globe with the very latest industry news in the traditional and alternative investment landscapes.

Gracing the cover of this month’s issue is Azizi Bank. As the largest commercial bank in Afghanistan, they have made a substantial push over the last year to incorporate more mobile banking options for their clients. As a result of these efforts, and their consistent dedication to being at the forefront of the country’s banking industry, Wealth & Finance International named Azizi Bank Afghanistan’s “Bank of the Year for 2018”. We spoke to Azizi’s President and CEO, Dr. Mohammad Salem Omaid, to find out how he has forged their peerless reputation in the finance sector.

Also in this issue, we spoke to Javed Khattak who, in his role as CFO of Humaniq, is helping to bring about the next generation of financial services. As an expert in Blockchain technologies he hopes to bring Fintech to areas of the globe that have no access to regular banking services. We endeavoured to find out more.

In a nice change of pace, Wealth & Finance spoke to Bradley Whitchurch, the CEO of Seal Shield, to find out how he drives innovation in the infection prevention industry. Utilising strategic partnerships and technology acquisitions, Seal Shield has become synonymous with excellence in the healthcare sector.

Finally, on the back of their success in the Finest in Finance Awards, we took a close look at D&D Leasing UK, a multinational leasing and financing provider. The firm’s Founder, Rev. Dr. K. Bill Dost, revealed some of the secrets behind their success.

At Wealth & Finance Magazine, we sincerely hope that you enjoy reading this month’s issue and look forward to hearing from you.

private banking
Banking

How the changing world of financial services is affecting private banking

How deeper and broader relationships can help private banking to thrive in the changing world of financial services

Alex Cheatle, Ten Lifestyle Group, CEO

Private banking in the modern financial services world must continue to engage with its customers by giving them a unique, human experience. But in the information age what does that look like? How do banks make sure they don’t become commoditised in the eyes of their clients? How do they build human relationships as powerful as those created by the great private bankers of the past?

First of all, recognising that customers are not a collection of product buying decisions; not just the person who buys credit cards, invests in the stock market and has a mortgage is crucial. They are individuals that do not relate to their financial services on a product by product basis, nor do they relate to their bank on a product by product basis, unless the relationship is already commoditised. Rather, the uniqueness of each customer means that banks can take a holistic approach, wider than financial services alone, as to how they view and how they treat their clients and their propositions.

Building trust in the information age

In the debate around the state of private banking in the modern world of financial services, some seem to be foreseeing the decline of personalised private banking as we know it. However, in reality, the modern era provides excellent opportunities for private banking that it often shied away from in the past. When many private banks’ unique selling point was secrecy their ability to be wide-ranging about helping their clients was a practical impossibility, given that this made the client relationship with the bank more public and porous. Now, that this has changed, and secrecy is less central to the proposition for most banks, financial organisations are able to offer a wider range of services to their customers that they would have in the past.

One of the main advantages private banks enjoyed was the consistent and immediate human connection, created when the traditional private banker would engage with the client and their family on a personal basis. This created a recognisable connection for clients to their bank and the brand as individuals. Today, when information about banking and investment products and transactional services are just a tap away, people can end up talking to their private banker less and less. The challenge for banks is to find a way to maintain the personalised touch that was previously provided by regular and direct interaction. This can be done in ways that keeps the client interested, and that creates a new way for them to talk to and about their bank, and for their bank to build a trusted relationship with them.

As CEO of the leading lifestyle concierge service that works with HSBC, Coutts and several other leading private banks around the world, I have seen the extraordinary impact that offering non-financial services, both digitally and high-touch, can have on the commercials of private banks and wealth managers.

Being able to be more than just a bank and adding value to client’s lives in the moments that matter most to them creates a deeper emotional engagement that builds the advocacy and the trust that drives the most important commercial metrics from assets under management to client acquisition and retention – and even helps manage difficult ’next generation’ challenges. 

How do you take banking out of the bank and into a social, non-financial setting?

As humans we don’t tend to talk a great deal about our financial services. Most of us can’t remember when anyone they know asked about mortgages or wanted to discuss who their investment advisor was – it’s just not what we do. What we do talk about are our social events with family and friends.  This is where private banking can make headway and create vital personal relationships and advocacy.

Put simply, if I take my friends out for dinner at a restaurant for their birthday and it is a restaurant notoriously difficult to get a table at, my friends will ask me how I got it. Or, if I am able to get tickets for my daughter and her friends to see a concert, and the tickets are being sold at astronomical prices, but I can get them at face value, their parents will ask how I did it. In response, I will say it was thanks to the service offered to me by my bank.  This creates advocacy amongst my peers, friends and family. 

By creating a relationship where the bank knows me well enough to give me this kind of benefit, these services give me invaluable personal and social credit. As a client, I feel happy that I have been listened to by my bank, my trust in them grows because they have been able to get me exactly what I was asking for and I feel proud for being able to provide and share these experiences with my family, friends and colleagues. So, subconsciously I will be advocating for and creating a deeper bond with my bank.

In this way the bank is able to create a trusting relationship with its clients and the client is happy to advocate for the quality of the bank. It has also been shown that a bank that is able to organise a client’s private and social life becomes more trusted in the financial realm too. This leads to growth in assets under management, higher advocacy for the bank and an increase in client retention for the bank, even through the generations.

Forging emotional bonds through to the next generation

 A well-known challenge for private banking in the modern world of financial services is the next generation wealth transfer. This is obviously not a new phenomenon. The next generation have often seen the previous private banker or wealth manager as traditionally Mum or Dad’s bank. Typically, a relationship will pass on to the next generation who have never felt the individual advisor was their banker, there was no emotional connection to them or to the bank and they felt under invested personally in the relationship. By using the information that has been collected about lifestyle services and non-financial benefits provided to the next generations in the family, banks are able to understand the next generation better. The next generation can also be invited to use the banks lifestyle service before they become the main financial decision maker. This builds an emotional connection to the brand, which leads to the next generation being much more likely to stay with the bank.

Though the modern world of financial services is changing for private banking the opportunities are there to be taken advantage of. By using a holistic approach banks can maintain the human and emotional relationship that has always been vital. And, with the modern era of personalised banking and information sharing there is even more opportunity to find out about the next generation and build the brand through them.

For further information about Ten Lifestyle Group Plc, please go to: https://www.tengroup.com/.

Press releases

The 2018 Wealth & Money Management Awards Press Release

Wealth & Finance Magazine Announces the 2018 Wealth & Money Management Awards Winners

United Kingdom, 2018- Wealth & Finance magazine have announced the winners of the 2018 Wealth & Money Management Awards.

Returning for the 5th consecutive year, the 2018 Wealth & Money Management Awards are again dedicated to rewarding and celebrating the hard work and dedication of those working in this vast industry, from asset managers, financial planners, HNWI services and specialist banking providers.

Discussing the outcome of this prestigious programme, Sophie Milner, Awards Coordinator commented: “Finance management can be a daunting and complicated task, and therefore many individuals, business people and families look to advisors to support and guide them through the complex process of managing their money. From ensuring all relevant fees and taxes are paid to supporting clients through monumental life changes, those working in the wealth management industry often become much more than just advisors, developing strong relationships with clients and supporting them through thick and thin. I am proud of all of my winners and wish them all the best for the future.”

To learn more about our deserving award winners and to gain insight into the working practices of the “best of the best”, please visit the Wealth & Finance website (http://www.wealthandfinance-news.com/) where you can access the winners supplement.

ENDS

Notes to editors.

About Wealth & Finance International

Wealth & Finance International is a monthly publication dedicated to delivering high quality informative and up-to-the-minute global business content. It is published by AI Global Media Ltd, a publishing house that has reinvigorated corporate finance news and reporting.

Developed by a highly skilled team of writers, editors, business insiders and regional industry experts, Wealth & Finance International reports from every corner of the globe to give readers the inside track on the need-to-know news and issues affecting banking, finance, regulation, risk and wealth management in their region.

financial terms
Finance

Learning the lingo

Learning the lingo: understanding financial terms

A study by the Organisation for Economic Cooperation and Development (OECD), has revealed that only 38% of adults understand know what is meant by the term ‘inflation’. This has led to True Potential Investor creating this useful jargon buster to help us get to grips with the key terms and improve our financial understanding:

Capital
Simply put, capital is another word used for any initial funds that are invested.

Bonds
Companies who need to raise funds to meet a set goal can choose to issue corporate bonds that investors can then buy. The money raised from the investment is held for an agreed number of years. At the end — also known as bond maturity — the investor receives the money they invested plus their guaranteed interest which was agreed at the start.
The government also offers government bonds or ‘gilts’ which work in a similar way to corporate bonds and are used to fund borrowing.

Capital gains tax
This is the tax that is paid on profit that is made on certain types of investment — your ‘capital gain’. You may not need to pay capital gains tax — it depends on the amount of profit you make and whether you use the profit to buy new shares. More information can be found on the GOV.UK website.

Diversification
The process of investing across multiple areas and not just focusing on one is called diversification. For example, you can diversify your investment across a range of investment types — such as shares or bonds, for example — as well as between industries, currencies and countries.
Diversification of your investments could help you to manage the risk and reduces the impact of market uncertainty.

FTSE
The Financial Times Stock Exchange (FTSE) is used to monitor how companies or indices trading on the London Stock Exchange are performing. A number of lists are available, with each showing the fluctuations in share prices over time.

ISA
Individual Savings Accounts — or ISAs — offer a tax-free or tax-efficient option in which to save. There are two main types of ISAs: cash ISAs and stocks and shares ISAs.
• Cash ISAs — like a typical savings account, cash ISAs do not require you to pay tax on any interest that is generated.
• Stocks & shares ISAs — with a stocks and shares ISA, the money is invested with the aim of growing the fund over time. You do not pay tax on dividends.

Inflation
This term describes the amount of money in which goods and services increases over a timeframe. It is measured as an annual percentage change and can impact interest rates and share prices.

Pensions
Pensions are set up to help you put money aside for your latter years. The money you place in the pension fund is invested with the aim of growing it by the time you retire.

There are three main types of pensions:

• Workplace pensions — this type of pension is arranged through your employer. Usually, you’ll contribute an amount each month, with your employer also contributing and the government contributing tax relief too.

Personal pensions — a pension you arrange yourself, which you can contribute to whenever you want.

• State pensions — a state pension is the amount you receive from the government once you reach State Pension age. Details on how much this is and eligibility can be found at the GOV.UK website.

Stocks & shares
Investors can buy stocks in a company. However, these stocks can be broken down into a number of shares, which can also be purchased by investors. Because of this similarity, the two terms are often interchangeable.

The aim with stocks and shares is to sell them on for a greater price than you originally paid. Usually, stock and shareholders receive a proportion of the company’s profits on an annual or bi-annual basis in the form of dividends.

Yield
This term describes the performance of your investment both now and in the future. For example, if you received £5 in interest from £100 placed in a Cash ISA, your total yield would be 5% which is equal to £5.

Cryptocurrency
Finance

Why Cryptocurrency Will Define How We Do Business

3 reasons cryptocurrency is likely to be ‘the future of commerce’

I would rather see the SEC make a methodical decision, with thoughtful guidelines, to approve a cryptocurrency ETF than a rash decision to reject one. And though the agency may not reach a final decision until next year on the proposed SolidX Bitcoin Shares ETF, I think the agency will eventually approve it. The proposal (requiring a minimum investment of 25 bitcoins, or $165,000, assuming a BTC price of $6,500) seems to meet the SEC’s criteria — on valuation, liquidity, fraud protection/custody, and potential manipulation.

Cryptocurrency’s Challenges and Potential
Since 2010, when it emerged as the first legitimate cryptocurrency, bitcoin has been declared “dead” by pundits over 300 times. Critics have cited the cryptocurrency’s hair-raising price volatility, it’s scalability challenges, or the improbability of a central bank ceding monetary control to a piece of pre-set software code. Yet since 2009, bitcoin has facilitated over 300 million consumer payment transactions, while hundreds of other cryptocurrencies have emerged, promising to disrupt a host of industries. Granted, no more than 3.5% of households worldwide have adopted cryptocurrency as a payment method. But I think cryptocurrency will transform how the world does business as developers, regulators, and demographics resolve the following key issues:

1. Approval of a Bitcoin ETF
I think the US investment community will not rest until they satisfy SEC criteria for a bitcoin ETF. Approval would represent another milestone in the validation of cryptocurrencies. This bodes well for the global financial system, because cryptocurrency promises to create financial savings and societal benefits — by streamlining how the world transacts for goods and services, updates mutual ledgers, executes contracts, and accesses records.

2. Comprehensive U.S. Regulation Can Improve Protection, Innovation, and Investment
Demand is mounting for a larger, more comprehensive U.S. and global regulatory framework that protects consumers and nurtures innovation. Those institutional investors who are assessing the cryptocurrency risk/reward proposition are also awaiting regulatory guidance and protections to honor their fiduciary duties. How, if at all, for example, will exchanges be required to implement systems and procedures to prevent hacks and protect or compensate investors from them?

Effective cryptocurrency regulation requires a nuanced set of rules, a sophisticated arsenal of policing tools, sound protocols, and well-trained professionals. I think U.S. regulators will eventually get it right. And if institutions become more confident that regulations can help them meet fiduciary duties, even small cryptocurrency allocations from reputable organizations could unleash a new wave of investment.

3. Bringing the Technology to Scale
Bitcoin and other cryptocurrencies cannot yet process tens of thousands of transactions per second. I think developers working on technology — such as Plasma, built on Ethereum, and the Lightning Network, for bitcoin and other cryptocurrencies — will sooner or later bring leading cryptocurrencies to scale. This could unleash an explosion of new applications, allowing cryptocurrency to integrate with debit and credit payment systems, developing new efficiencies in commerce — whether B2B, B2C, or B2G — in ways we can’t fully anticipate.

4. Developing World Incentives and Demographics
Cryptocurrency adoption as a payment method could grow fastest in emerging markets. Many consumers and entrepreneurs in such regions have a strong incentive to transact in cryptocurrency — either because their country’s current banking payment system is inefficient and unreliable, and/or they are one of the world’s 1.7 billion “unbanked.” Two-thirds of the unbanked own a mobile phone, which could help them use cryptocurrency to transact, and access other blockchain-based financial services.

Data underscores the receptiveness of Developing World consumers to cryptocurrency. The Asia Pacific region has the highest proportion of global users of cryptocurrency as a transaction medium (38%), followed by Europe (27%), North America (17%), Latin America (14%), and Africa/The Middle East (4%), according to a University of Cambridge estimate. Although the study’s authors caution that their figures may underestimate North American cryptocurrency usage, they cite additional data suggesting that cryptocurrency transaction volume is growing disproportionately in developing regions, especially in:
● Asia (China, India, Malaysia, Thailand)
● Latin America (Brazil, Chile, Colombia, Mexico, Venezuela),
● Africa/The Middle East (Kenya, Saudi Arabia, Tanzania, Turkey)
● Eastern Europe (Russia, Ukraine).

Demographics will also likely drive cryptocurrency adoption in the Developing World, home to 90% of the global population under age 30.

Remember The Internet – Investment Bubbles and Bursts Will Identify The Winners
High volatility is inherent in the investment value of this nascent technology, due to factors including technological setbacks and breakthroughs, the impact of pundits, the uneven pace of adoption, and regulatory uncertainty. Bitcoin, for example, generated a four-year annualized return as of January 31st 2018 up 393.8%, a one-year 2017 performance up 1,318% — and year-to-date, a return of down over 50%. Bitcoin has previously experienced even larger percentage drops before resuming an upward trajectory.

In my view, bitcoin and other cryptocurrencies will experience many more bubbles and bursts, in part, fueled by speculators. But the bursting of an investment bubble may signal both a crash and the dawn of a new era. While irrational investments in internet technology in the 1990’s fueled the dotcom bust, some well-run companies survived and led the next phase of the internet revolution. Similarly, I believe a small group of cryptocurrencies and other blockchain applications, including bitcoin, will become integrated into our daily lives, both behind the scenes and in daily commerce.

Although “irrational exuberance” will continue to impact the price of cryptocurrencies, this disruptive technology represents not only the future of money, but of how the world will do business.

policy makers
Transactional and Investment Banking

Developed World Policymakers Place Their Bets

By, Graham Bishop, Investment Director at Heartwood Investment Management

In a busy period for monetary policy news, three of the world’s major central banks held their formal committee meetings this month. What did this mean for investment markets? Graham Bishop, Investment Director at Heartwood Investment Management, the asset management arm of Handelsbanken in the UK, talks us through it. 

Bank of England: A surprise reaction to unsurprising news

The announcement that the Bank of England (BoE) would raise its base interest rate from 0.5 to 0.75% came as little surprise to investment markets, which had almost fully priced in the move. The Bank’s committee members voted unanimously for the UK’s second rate rise since the financial crisis. The committee also agreed to maintain its current levels of corporate and government bond issuances at (£10bn and £435bn respectively), contrary to some earlier media speculation over the potential for quantitative tightening.  

Given that the BoE did exactly as anticipated, and that Carney’s tone at the ensuing press conference was mildly hawkish, the only slight surprise has been the immediate market reaction – a fall in sterling and gilt yields.  While the precise reasons for this response are as yet unclear, it seems that investors were given fresh insight into the BoE’s thought process, with Governor Carney referencing 2-3% as the bank’s estimated neutral rate (i.e. the rate neither accommodative nor restrictive to economic growth). The market’s reaction suggests that it may not entirely agree with these figures. 

Perhaps this is unsurprising, given the lack of visibility ahead for the UK economy. The BoE has also just released its quarterly Inflation Report, in which it claims that CPI inflation is projected to decline towards its 2% target over the next three years. And while a downward trend is a point of general commonality across the BoE’s range of projections, the wide range of potential outcomes put forward means that there is little scope for certainty.

US: Business as usual for the Fed, but fiscal deficits are growing

In another rather predictable announcement, the US Federal Reserve (Fed) held rates steady at its committee meeting earlier this month, while sending a clear message that more rate hikes would be on the way. Amid a rising inflationary environment, in the wake of seven previous hikes, and with presidential tax cuts adding fuel to the fire, the Fed had little to do this time around. Nonetheless, another two rate hikes are expected in 2018.  At only the midpoint of the Fed’s expected rate rise path (according to the committee’s own predictions), the Fed is already close to its neutral policy rate.  

This month also saw the announcement of the US Treasury Department’s debt issuance for the second half of the year, which came in above previous estimates (and with the largest jump since the financial crisis). The Treasury is financing a widening fiscal budget gap on the heels of tax cuts and spending increases, as the government’s deficit blows out towards as possible $1 trillion by 2020. At the same time, the Fed has begun the process of reducing its balance sheet, adding more supply to the Treasury market; while its pace so far has been very gradual, this is expected to pick up. 

US monetary policy on the brink of entering restrictive territory and a rapidly expanding fiscal deficit give us pause for thought should growth falter ahead. For now, the situation is encouraging, but as things evolve we need to think carefully about US equities and related high beta plays.

Bank of Japan: The rebel without a change

The Bank of Japan (BoJ) opted to effectively maintain its current policy on Tuesday, in that it left its benchmark interest rate unchanged. But the BoJ also announced changes to the allocation of its ETF purchases (now favouring the market cap weighted Topix index rather than the price-weighted Nikkei index) as well as slight adjustments allowing greater movement around the 10-year bond yield (20bps either side of zero, as opposed to 10bp). In the latter, markets may have witnessed a small act of monetary tightening by another name. 

The yield on Japan’s 10-year government bonds initially fell following the announcement, but markets changed their mind overnight and yields leapt up to 12bps on Wednesday – their largest jump since August 2016. Equally haphazard was the market reaction to banking stocks – initially negative but with a swift change of heart, as investors seemingly realised the benefits of a move away from a lower yield environment. Further Japanese currency weakness against the dollar was also positive for both Topix and Nikkei indices. This is good news for our portfolios, which slightly favour Japanese equities.

 
Javed Khattak
Finance

A Harbinger of Global Financial Change

A Harbinger of Global Financial Change

Javed Khattak is, among many roles, the Chief Financial Officer for Humaniq, a fintech firm that aims to be the herald of the next generation of financial services. In July, Javed was named as the CFO of the Year for 2018 by Wealth & Finance International Magazine. Following this, we spoke with Javed to find out how he achieved the extraordinary success he celebrates today.

Block Chain

Javed Khattak is a qualified actuary, as a Fellow of the Institute of Actuaries in the UK, and an expert in finance, strategy, risk, investments, technology and start-ups. As a FTSE100 advisor, he is a recognised expert and a strong proponent of blockchain technologies, seeing them as the inevitable next step in the corporate and professional landscapes.

It is, however, his role as CFO of Humaniq that brought him to Wealth & Finance’s attention. Javed starts the interview by outlining the importance of the work he is doing at the firm, “Amongst other roles, I am the CFO of Humaniq, this role has been my primary focus over the last year. Humaniq is a financial inclusion project that, through use of technology in namely blockchain and biometric ID, aims to bring financial services to the unbanked population of the world and has successfully launched in several African countries.”

Perhaps a crucial element to Javed’s work is his advocacy for blockchain technologies, believing them to be the ‘next big thing’; a revolutionary development for innumerable sectors and fields. “Humaniq, and many other innovative ventures, are able to come into existence thanks to this technology. This is in two ways; blockchain first made the initial funding for these companies possible through ICO’s, and alongside blockchain also provides these ventures with the tools and technology to execute their novel ideas and make them a reality.” Through effective utilisation of the technology, Javed sees limitless possibilities with most sectors benefitting from it, including technology, financial services and real estate industries, alongside transforming supply chains and empowering end users (e.g. through control of their personal data).

However, Javed admits that blockchain is becoming stigmatised due to false parties adopting the name to make money quickly; this is a frequent occurrence with an exciting emerging technology but seems to be amplified in the case of blockchain and cryptocurrency. “Blockchain has become a buzz-word which is also attracting the wrong players who are using the opportunity to create outright scams and frauds. We have all seen the various non-blockchain businesses changing their trading names to add the magic word and see their stock prices rise. I believe this will all fade away once the regulators catch up and alongside the non-sophisticated ICO investors or contributors get burnt. Though amongst the noise, there are genuine players of course.”

“Fundamentally, I see blockchain as an enabler. It is still early in the technology’s lifecycle, but once the technology matures, it can and will revolutionise lives. I hope that the blockchain will do what the internet did for information and prove to be the empowering tool that helps decentralise the world’s wealth and resources.”

Javed’s work at Humaniq is only one part of his current workload; he is also the Co-founder and Chief Executive Officer of two companies, Zisk Properties and JKCoach. Javed takes a moment to talk us through his history with them, “I founded Zisk Properties in 2014. Zisk is an innovative property investment business, focusing on providing investment options to people with insufficient savings or a lack of financial understanding to have a more secure future and even get on the property ladder through small steps. It already has a lot of traction, with hundreds of customers and managed to significantly outperform property markets with a weighted average return of just under 20% p.a. since its inception. Having successfully received our UK FCA registration recently, we are in the process of launching in the UK and are already in discussions to launch in UAE by end of 2018.”

“JKCoach was founded several years ago, and is an educational institute that provides coaching, tuitions and diplomas to Pakistani students with the aim to raise the education standards. By end of 2018, we will have over 500 students, with an ambition to expand into the rest of Pakistan and to be able to offer free but quality education to children from families below the poverty line in 2019.”

As you can imagine, being on the executive team of three companies results in a hectic work schedule. For Javed, this is just par for the course, “Busy probably would be an understatement. I am involved in most aspects of the ventures I am leading. Fortunately, having a great team that I can rely on helps a lot. For me, there is no average workday, as each one is very different to the previous one – the only thing that is constant is the number of hours that I am working each day!”

“What I do on any particular day depends on the ongoing projects and work-streams. Example; the past month I have been travelling significantly to speak at or be a panellist at conferences, lead a fundraising round, interviewing and hiring for new roles and spending time with our dev guys for launch of Zisk’s new web platform.”

Javed continues, bringing the interview to an optimistic close; “I am a firm believer in giving back to society – this is why I was initially attracted to Humaniq and precisely why I started Zisk Properties and JKCoach.

“In addition to this, I love technology because either a smartphone or a tablet has become a companion as information is instantly available. Financial services, like money transfers, are more accessible and cheaper. Medical advancements mean a better quality of life and improved longevity for those affected with disease or involved in accidents, and so on. As such, let us all work together to leave a part of us behind through our creativity, fostering new technologies, and not being afraid of challenges – all the while remembering to share happiness, be kind and forgiving to humanity as well as all that is around us.”

Company Details 

Name: Javed Khattak

Web Address: www.linkedin.com/in/javedkhattak

Roles:

CFO of Humaniq

Co-founder & CEO of Zisk Properties

Co-founder & CEO of JKCoach

Investment Director at Stratamis

SteelEye MiFID II
Global Compliance

Reflecting on six months of MiFID II

Reflecting on six months of MiFID II

By Matt Smith, SteelEye

The financial services industry is in the throes of a new era. In January, the biggest overhaul of its operations in the past decade was implemented – the second Markets in Financial Instruments Directive, or MiFID II for short. MiFID II had those in the industry working overtime last Christmas as they scrambled to become compliant for deadline day, but major Exchanges failing to implement the regulation on time, postponement of dark pool caps and reigning confusion meant that, for many, January 3 failed to have the impact that was expected.

In the six or so months that followed, the industry has continued to adapt to this shifting landscape and new elements of the regulation have trickled in. Below, Matt Smith, CEO of compliance tech and data analytics firm SteelEye, explains what’s been happening on the ground since ‘the day of the MiFID’ and what we can expect to see in the future.

 

Best execution

Firms’ best execution requirements under MiFID II are far from over. Regulators have consistently cited execution quality as fundamental to the integrity of the market and, accordingly, MiFID II’s best execution requirements are extensive.

The first of these, RTS28, was implemented on April 30 and required firms to publicly disclose their order routing practices for clients across all asset classes in human and machine-readable reports. This was followed soon after by RTS27, which hit firms on June 30 and requires quarterly best execution reports detailing the ‘sufficient steps’ that have been taken to achieve the best possible results for clients when executing orders. This required the capturing of a remarkable amount of data, a process aimed at increasing transparency and accountability in the industry.

But experts believe it will still be a while longer before the data generated under these reports is sufficiently detailed and consistent enough to have a significant impact on trading behaviour. There have also been problems among firms unsure of what exactly to include in the reports, with many calling for regulators to issue more detailed guidance. Perhaps the next quarterly disclosures under RTS27, due in September, will make bigger waves.

 

Research unbundling

MiFID II’s unbundling rules have, so far, been the most controversial. Under these new rules, firms need to make explicit payments for investment research in order to prove that they are not being induced to trade – meaning free research is no more.

This created a number of hurdles for buy and sell-side firms, which set about creating frameworks to evaluate the materials they produce, distribute and consume in order to understand whether or not it now needs to be paid for under MiFID II. Currently the impact on the market is unclear, but there has been early evidence of an increase in M&A activity as providers tie up their services to expand sector coverage, and the more frequent use of tech to maximise existing research platforms.

The FCA has already announced a review into the application of these new unbundling rules. This is somewhat unsurprising, given that firms were issued with no guidance on how they should negotiate and price their research under MiFID II.

 

Dark pool transparency

One of the major focuses of MiFID II was to force equity trading back onto public stock markets by reducing the use of dark pools in favour of lit book trading venues. Early evidence suggests that the share of trading on lit exchanges hasn’t risen since January, still comprising around 50% of all trades.

But, price swings have fallen, as have trading volumes in dark pools. Additionally, the LSE’s total lit order book ADV rose to £6.2bn in the first quarter of 2018 – the exchange’s highest quarterly performance in a decade. This indicates that MiFID II’s impact on transparency has been mixed. While the overall proportion of trades executed in the dark versus lit venues hasn’t changed significantly, the proportion of LIS trades is higher.

It’s also necessary to factor in the delayed implementation of these new dark pool caps, which were postponed from January to March – meaning their full impact may not yet have been shown, and Q1 summaries will not necessarily illustrate what is currently happening on the ground. We may have to wait longer still to see whether the industry has seen the light, or will continue to operate in the dark.

 

Systematic internalisers

Despite the January rush, systematic internalisers (SIs) haven’t yet been fully implemented under MiFID II. This was due to come in September, by which point any firm labelled as an SI would have to comply with their new obligations, but ESMA announced in July a further delay to the new rules.

Now, derivatives have until March to comply with the requirements and ESMA will not publish its calculations for derivatives until February due to ongoing issues with incomplete and inadequate data. This isn’t a let-off for the entire industry, though; instead of publishing all the rules, ESMA is focusing on completeness for a select number of asset classes and delaying others. Equity, equity-like and bond instruments will still have to be compliant by September 1.

 

Going forward

If MiFID II has proven anything, it’s that compliance is, more than ever, an evolving process not a one-off event. In the coming weeks, months and years MiFID II will remain an ongoing challenge for firms and strategic and operational flexibility will be needed if they are to flourish.

MiFID II absolutely has the potential to have a significant and positive impact on the industry. But collaborative partnerships, innovation and further guidance from regulators are critical to this impact being realised. In July a formal complaint was lodged against the FCA for its silence on MiFID II, and undoubtedly for those firms making the right efforts to comply with the new rules this lack of clarity is frustrating.

 

There is hope in the industry that, once clarification is provided and regulation requirements are gradually met, focus will shift from merely complying, to embracing the opportunities provided by MiFID II’s new framework. As the dust settles and uncertainty fades, a more transparent, competitive and trustworthy industry should, hopefully, emerge. 

marketing roi
Finance

ROI from marketing across various sectors

How ROI Can Vary Across Different Sectors

£115.9 million went towards direct mail marketing and online platforms in the UK automotive industry in 2016. That’s according to figures from Google’s Car Purchasing UK Report from April 2017. Of course, the car industry has a massive budget at their disposal when it comes to marketing, one that not all industries can match. Plus, with so many people vying for a digital presence, the cost of online marketing is rising. Is it really worth the cost? Audi servicing plan providers, Vindis, explores the matter across many sectors.

Automotive industry
Car shoppers are heading more and more to the online world than ever before, according to Google’s Drive To Decide Report. Over 82% of the UK population aged 18 and over have access to the internet for personal reasons, 85% use smartphones, and 65% choose a smartphone as their preferred device to access the internet. These figures show that for car dealers to keep their head in the game, a digital transition is vital.

The report also showed that 90% of car shoppers researched online before buying. 51% of buyers start their auto research online, with 41% of those using a search engine. To capture those shoppers beginning their research online, car dealers must think in terms of the customer’s micro moments of influence, which could include online display ads – one marketing method that currently occupies a significant proportion of car dealers’ marketing budgets.

In fact, 11% of the total UK Digital Ad Spending Growth in 2017 was from the car industry, according to eMarketer, which puts the industry second only to retail. The automotive industry is forecast to see a further 9.5% increase in ad spending in 2018.

But is online really impacted a buyer’s choices? 41% of shoppers who research online find their smartphone research ‘very valuable’. 60% said they were influenced by what they saw in the media, of which 22% were influenced by marketing promotions – proving online investment is working. But traditional methods of TV and radio still remain the most invested forms of marketing for the automotive sector. However, in the last past five years, it is digital that has made the biggest jump from fifth most popular method to third, seeing an increase of 10.6% in expenditure.

Fashion industry
Fashion retailers need to keep an eye on online investments, as the online world is strong for the fashion industry – ecommerce accounted for £16.2 billion in sales for the sector in 2017. This figure is expected to continue to grow by a huge 79% by 2022. So where are fashion retailers investing their marketing budgets? Has online marketing become a priority?

The British Retail Consortium stated that ecommerce made up nearly 75% of all purchases for December 2017. Online brands such as ASOS and Boohoo continue to embrace the online shopping phenomenon. ASOS experienced an 18% UK sales growth in the final four months of 2017, whilst Boohoo saw a 31% increase in sales throughout the same period.

Brands like John Lewis, Next, and Marks and Spencer have set aside millions towards their online presence, in order to make the most of the rise of online shopping. John Lewis announced that 40% of its Christmas sales came from online shoppers, and whilst Next struggled to keep up with the sales growth of its competitors, it has announced it will invest £10 million into its online marketing and operations.

People don’t enjoy the idea of wandering the high street anymore. Instead they like the idea of being able to conveniently shop from the comfort of their home, or via their smartphone devices whilst on the move.

Influencers are becoming a big thing for fashion marketing too; PMYB Influencer Marketing Agency noted that 59% of marketers for the fashion world ramped up their spend for influencers last year. In fact, 75% of global fashion brands collaborate with social media influencers as part of their marketing strategy. More than a third of marketers believe influencer marketing to be more successful than traditional methods of advertising in 2017 – as 22% of customers are said to be acquired through influencer marketing.

Utilities industry
Comparison websites are an important part of picking utilities suppliers for customers, so gaining and retaining customers falls on those websites. With comparison websites spending millions on TV marketing campaigns that are watched by the masses, it has become vital for many utility suppliers to be listed on comparison websites and offer a very competitive price, in order to stay in the game.

Compare the Market, MoneySupermarket, Confused.com, and Go Compare make up the largest comparison sites as well as being in the top 100 highest advertising spenders in the UK. Comparison sites can be the difference between a high rate of customer retention for one supplier and a high rate of customer acquisition for another. If you don’t beat your competitors, then what is to stop your existing and potential new customers choosing your competitors over you?

One of the Big Six energy suppliers, British Gas, has changed its main focus from new customer to retaining customers. Whilst the company recognise that this approach to marketing will be a slower process to yield measurable results, they firmly believe that retention will in turn lead to acquisition. The Gas company hope that by marketing a wider range of tailored products and services to their existing customers, they will be able to improve customer retention.

This priority change is reflected in British Gas’s decision to invest £100 million into their customer loyalty scheme, to reward those who stay with them. The utilities sector is incredibly competitive, so it is vital that companies invest in their existing customers before looking for new customers.

Google’s Public Utilities Report in December 2017 showed how the utilities sector has strengthened online, with 40% of all searches occurring on mobile, and 45% of ad impressions delivered on mobile. As mobile usage continues to soar, companies need to consider content created specifically for mobile users as they account for a large proportion of the market now.

Healthcare industry
Marketing in the healthcare industry is a far cry from any other sector in terms of restrictions. The same ROI methods that have been adopted by other sectors simply don’t work for the healthcare market. Despite nearly 74% of all healthcare marketing emails remaining unopened, you’ll be surprised to learn that email marketing is essential for the healthcare industry’s marketing strategy.

Around 2.5 million people have email as their main communication method, and the number is rising. This means email marketing is targeting a large audience. For this reason, 62% of physicians and other healthcare providers prefer communication via email – and now that smartphone devices allow users to check their emails on their device, email marketing puts companies at the fingertips of their audience.

With one in 20 Google searches being for health content, it’s definitely worth the investment of the healthcare industry to be online. This could be attributed to the fact that many people turn to a search engine for medical answer before calling the GP. In relation to this, Pew Research Center data shows 77% of all health enquiries begin at a search engine – and 72% of total internet users say they’ve looked online for health information within the past year. Furthermore, 52% of smartphone users have used their device to look up the medical information they require. Statistics estimate that marketing spend for online marketing accounts for 35% of the overall budget.

And that’s without considering social media marketing. Whilst the healthcare industry is restricted to how they market their services and products, that doesn’t mean social media should be neglected. In fact, an effective social media campaign could be a crucial investment for organisations, with 41% of people choosing a healthcare provider based on their social media reputation! And the reason? The success of social campaigns is usually attributed to the fact audiences can engage with the content on familiar platforms.

Should you invest?
Online marketing is clearly vital for many sectors, particularly for fashion and car sales. With a clear increase in online demand in both sectors that is changing the purchase process, some game players could find themselves out of the game before it has even begun if they neglect digital.

There’s a lot more to consider, particularly for utilities. Whilst TV and digital appear to remain the main sales driving forces, its more than just creating your own marketing campaign when comparison sites need to be considered. Without the correct marketing, advertising or listing on comparison sites, you could fall behind.

The average firm in 2018 is set to put an estimated 41% of their marketing budget towards online strategies, and this is expected to rise to 45% by 2020, says webstrategies.com. Social media advertising investments is expected to represent 25% of total online spending and search engine banner ads are also expected to grow significantly too – all presumably as a result of more mobile and online usage.

How do you view the investment? If mobile and online usage continues to grow year on year at the rate it has done in the past few years, we forecast the investment to be not only worthwhile but essential.

Sources
https://pmyb.co.uk/global-fashion-company-influencer-marketing-budget/
https://www.prnewswire.com/news-releases/the-uk-clothing-market-2017-2022-300483862.html
http://uk.fashionnetwork.com/news/Online-is-key-focus-for-UK-fashion-retail-investment-in-2017,783787.html#.WrOjxOjFKUk
http://www.mobyaffiliates.com/blog/retail-accounts-for-14-2-of-digital-advertising-spending-in-the-uk-in-2017/
http://www.thisismoney.co.uk/money/bills/article-2933401/Energy-price-comparison-sites-spend-110m-annoying-adverts.html
http://www.thedrum.com/news/2017/03/28/british-gas-shifts-acquisition-retention-marketing-know-the-value-keeping-the-right
https://www.independent.co.uk/news/business/news/uk-companies-online-advertising-spend-10-billion-more-last-year-2016-pwc-a7678536.html
https://www.webstrategiesinc.com/blog/how-much-budget-for-online-marketing-in-2014
https://www.kunocreative.com/blog/healthcare-email-marketing
http://www.evariant.com/blog/10-campaign-best-practices-for-healthcare-marketers
https://getreferralmd.com/2015/02/7-medical-marketing-and-dental-media-strategies-that-really-work/

tax entitlements
Tax

Tax entitlements you could be missing out on

Discover 5 tax entitlements you could be missing out on!

By Tony Mills, Director, Online Tax Rebates​

Whether you’re a CIS or PAYE worker, you may be surprised at what expenses you can claim back and the money you can save in your pay packet each month.

Here’s a simple guide to what tax relief you could be missing out on and how to claim:

 

  • Professional memberships

Not only can signing up to a professional membership help you move quicker up the career ladder – and get paid more – you may also be due money back on any fees.

If you’re a member of a professional body like the Federation of Master Builders, The Chartered Institute of Building or National Federation of Builders for example and pay the subscription fees yourself, you can make a claim…worth 20 percent to a basic rate taxpayer.

If you have not claimed previously, you may be able to make a claim for the last four years. HMRC usually make any adjustments needed through your tax code for the current tax year. If a claim is made after the end of the tax year, this will be repaid by way of a payable order or bank transfer.

 

  • Capital allowances

 Many contractors are missing out on valuable tax relief due to their lack of knowledge around capital expenditure. This can have a significant impact on finances.

If you’re a builder working under CIS, for anything you purchase for business use – such as equipment, machinery and vehicles – you’re eligible to claim capital expenses.

You can claim an allowance of up to 100 percent in the year of purchase on certain items although cars are restricted to 18 percent per annum in most cases. Assets you owned before you started the business may also be claimed if you now use them for your business.

 

  • Tools & Equipment

 Your tools; where would you be without them? If you have to purchase your own tools, you may be due a tax refund on their cost, as well as money back on the costs of maintenance and replacement.

If you’re a PAYE worker, you can make a claim if the same or similar item is not available from your employer. Whereas if you’re a CIS worker, you can claim all tools as an expense.

 

  • Uniform

If you wear a compulsory branded uniform and/or protective clothing at work or on-site, you could be due a one-off rebate for the upkeep. This can be backdated to the last four tax years and received as a single payment, while any future claims will be paid in wages.

Limits on claims vary by industry but the standard flat rate expense allowance for uniform maintenance is £60 for this tax year, meaning basic-rate taxpayers can claim £12 back and higher-rate payers £24. It only takes a couple of minutes online to check using an online calculator.

 

  • Travel

By trade, you’re unlikely to be working from a fixed address every day. The cost of travelling between home and the site you’re assigned to may be claimed as an expense for tax purposes.

 

A workplace is considered temporary if your contract is below 24 months. If your contract length is uncertain, the workplace will be seen as a temporary workplace until you have been there for 24 months, it would then be considered permanent.

Be sure to keep any travel or fuel receipts to make an expense claim via your employer.

 

  • Finally, stay safe…

Don’t fall victim to fraudsters who are sending fake emails and text messages promising tax rebates.

Never hand out any personal or payment details to companies you haven’t approached personally before or to HMRC who will only ever contact you via post or your employer.

Press releases

The 2018 Fintech Awards Press Release

Wealth & Finance Magazine Announces the 2018 FinTech Awards Winners

United Kingdom, 2018- Wealth & Finance magazine have announced the winners of the 2018 FinTech Awards.

The 2018 FinTech Awards, now entering its second year, aims to recognise the companies and individuals who have gone above and beyond to creating an easier, more intelligent and more secure financial world for both businesses and consumers across the world.

With global investments into financial technology hitting an all-time high in 2017, we felt it incumbent to promote the importance of the financial world being kept at the cutting edge of advancements within the constantly evolving technological landscape.

Discussing the outcome of the programme, Sam Jordan-Turner, Awards Coordinator commented: “There is no longer an aspect of our financial lives which is not impacted by FinTech, be it the meteoric rise of cryptocurrencies, mobile banking apps or the POS technology facilitating daily transactions. As such, all of my winners deserve congratulations and the best of luck as they look to the future.”

To learn more about our deserving award winners and to gain insight into the working practices of the “best of the best”, please visit the Wealth & Finance website (http://www.wealthandfinance-news.com/) where you can access the winners supplement.

ENDS

Notes to editors.

About Wealth & Finance International

Wealth & Finance International is a monthly publication dedicated to delivering high quality informative and up-to-the-minute global business content. It is published by AI Global Media Ltd, a publishing house that has reinvigorated corporate finance news and reporting.

Developed by a highly skilled team of writers, editors, business insiders and regional industry experts, Wealth & Finance International reports from every corner of the globe to give readers the inside track on the need-to-know news and issues affecting banking, finance, regulation, risk and wealth management in their region.