Subprime mortgage crisis

IFC, McCormick & Company, and Citi Establish Sustainability-Linked Financing Partnership

Retrieved on: 
Monday, August 2, 2021

Under the initiative, suppliers can qualify for discounted rates on short-term working capital financing when they meet sustainability standards accepted by McCormick.

Key Points: 
  • Under the initiative, suppliers can qualify for discounted rates on short-term working capital financing when they meet sustainability standards accepted by McCormick.
  • At McCormick, were committed to doing whats right for people, communities, and the planet we share.
  • This innovative partnership between McCormick and IFC leverages Citis global Supplier Finance offering.
  • Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.

Hope Bancorp Appoints Technology Intrapreneur Mary (“Mimi”) Thigpen to Board of Directors

Retrieved on: 
Monday, August 2, 2021

Hope Bancorp, Inc. (the Company) (NASDAQ: HOPE), the holding company of Bank of Hope (the Bank), today announced the appointment of Mary E. (Mimi) Thigpen to the Board of Directors of the Company and Bank effective August 1, 2021.

Key Points: 
  • Hope Bancorp, Inc. (the Company) (NASDAQ: HOPE), the holding company of Bank of Hope (the Bank), today announced the appointment of Mary E. (Mimi) Thigpen to the Board of Directors of the Company and Bank effective August 1, 2021.
  • View the full release here: https://www.businesswire.com/news/home/20210802005651/en/
    Technology Intrapreneur Mary E. Mimi Thigpen joins Hope Bancorp, Inc. Board of Directors
    Ms. Thigpen, age 61, is an innovative strategic business executive and consultant with more than 38 years experience in the technology and communication industries, including cybersecurity and data management strategies.
  • Previously, Ms. Thigpen served on the Board of Directors of Opus Bank, until it was acquired by Pacific Premier Bancorp Inc. (NASDAQ: PPBI) in June 2020.
  • We are very excited to welcome Mimi to our Board of Directors, said Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp, Inc.

Team, Inc. Becomes The Exclusive Provider Of Credosoft Integrity Mangement In North America

Retrieved on: 
Monday, August 2, 2021

"We are excited to strengthen our relationship with Credosoft, a premier global provider of integrity management software," said Robert Young, TEAM's President of Asset Integrity and Digital Group.

Key Points: 
  • "We are excited to strengthen our relationship with Credosoft, a premier global provider of integrity management software," said Robert Young, TEAM's President of Asset Integrity and Digital Group.
  • The Credosoft service offerings provides TEAM, a stable, subscription-based revenue profile and further positions the company to be a leading provider of integrated digitally-enabled asset integrity solutions in a variety of end markets."
  • "TEAM is the perfect partner to further help our expansion to North America," said John McAteer, Credosoft's Chief Executive Officer.
  • There are multiple clients currently utilizing the Credosoft platform for integrity monitoring services in North America.

Pretium Adds Residential Credit Expertise with Three Executive Hires

Retrieved on: 
Monday, August 2, 2021

NEW YORK, Aug. 2, 2021 /PRNewswire/ --Pretium, a specialized investment management firm focused on residential real estate, residential credit and corporate credit with $26 billion in assets, today announced that Sarah Kong, Andrew Miller and Peter Morreale have joined the firm as Managing Directors.

Key Points: 
  • NEW YORK, Aug. 2, 2021 /PRNewswire/ --Pretium, a specialized investment management firm focused on residential real estate, residential credit and corporate credit with $26 billion in assets, today announced that Sarah Kong, Andrew Miller and Peter Morreale have joined the firm as Managing Directors.
  • "We are pleased to welcome these three uniquely talented and highly proven senior professionals to our team," said Don Mullen, CEO and Founder of Pretium.
  • Ms. Kong joins Pretium's Residential Credit team from Goldman Sachs where she spent 15 years in the firm's mortgage business.
  • Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers.

OMERS, Goldman Sachs Asset Management, AXA IM Alts Sign Agreement to Purchase 100% of amedes, a Leading Laboratory Services Provider

Retrieved on: 
Friday, July 30, 2021

OMERS diversified portfolio of large-scale infrastructure assets exhibits stability and strong cash flows, in sectors including energy, digital services, transportation and government-regulated services.

Key Points: 
  • OMERS diversified portfolio of large-scale infrastructure assets exhibits stability and strong cash flows, in sectors including energy, digital services, transportation and government-regulated services.
  • About the Goldman Sachs Asset Management Infrastructure business:
    Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance.
  • Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure.
  • Established in 2006, the Infrastructure business within Goldman Sachs Asset Management has consistently navigated the evolving infrastructure asset class, having invested approximately $13 billion in infrastructure assets across market cycles since its inception.

Harbor Custom Development, Inc. Signs Term Sheets for Credit Facilities Totaling $158,400,000 with US Capital Global

Retrieved on: 
Thursday, July 29, 2021

We are delighted to enter into a relationship with US Capital Global which has the ability to provide us construction financing on a national scale.

Key Points: 
  • We are delighted to enter into a relationship with US Capital Global which has the ability to provide us construction financing on a national scale.
  • US Capital Global fills a key role by offering a one stop shop for our land development and vertical construction financing needs, stated Sterling Griffin, President and CEO of Harbor Custom Homes.
  • Harbor has active or recently sold-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington.
  • The US Capital Global group manages direct investment funds and provides wealth management and capital raise services through its affiliates, including US Capital Global Investment Management LLC, US Capital Global Wealth Management LLC, and its FINRA-registered broker-dealer, US Capital Global Securities LLC.

GSR Names Former J.P. Morgan Executive Michael Bressler Global Head of Sales

Retrieved on: 
Thursday, July 29, 2021

GSR , a global leader in digital asset trading, today announced that Michael Bressler has joined the company as Global Head of Sales.

Key Points: 
  • GSR , a global leader in digital asset trading, today announced that Michael Bressler has joined the company as Global Head of Sales.
  • Mr. Bressler joins GSR with over 20 years of experience in trading and institutional sales at top banks and hedge funds.
  • Most recently, he was a Managing Director and Head of Western Region Sales & Marketing at J.P. Morgan, where he oversaw many of the banks top institutional relationships.
  • Prior to this, Mr. Bressler also spent seven years as a Managing Director for Global Commodities at the bank.

Valley Bank Brings Relationship Banking to Greater Philadelphia Region

Retrieved on: 
Thursday, July 29, 2021

Valley National Bank, a regional bank with approximately $41 billion in assets, is continuing its expansion into the greater Philadelphia region to provide financial services for growth-oriented small and mid-sized businesses.

Key Points: 
  • Valley National Bank, a regional bank with approximately $41 billion in assets, is continuing its expansion into the greater Philadelphia region to provide financial services for growth-oriented small and mid-sized businesses.
  • Leading Valleys commercial and industrial lending team in the region is Mark Biedermann, Senior Vice President, Division Head who recently joined the bank.
  • With more than 32 years of commercial banking experience, Biedermann has held several executive and senior management positions at local banks in the Philadelphia region.
  • As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $41 billion in assets.

Gregory K. Palm Joins Olatec Therapeutics’ Board of Directors

Retrieved on: 
Thursday, July 29, 2021

Olatec Therapeutics LLC, a leader in the developing class of selective NLRP3 inhibitors, today announced that Gregory K. Palm, currently a senior advisor to The Goldman Sachs Group, has been elected to Olatecs Board of Directors in connection with his making a substantial equity investment in the Company.

Key Points: 
  • Olatec Therapeutics LLC, a leader in the developing class of selective NLRP3 inhibitors, today announced that Gregory K. Palm, currently a senior advisor to The Goldman Sachs Group, has been elected to Olatecs Board of Directors in connection with his making a substantial equity investment in the Company.
  • Summarizing his reasons for joining Olatecs Board of Directors, Greg Palm stated, Olatec is developing an impressive platform of drug candidates.
  • Reflecting on Mr. Palms election, Olatecs CEO & Chairman, Damaris B. Skouras said: Gregs brilliant intellect, character and expertise make him an ideal addition to our Board of Directors.
  • Any forward-looking statements contained in this release are based on assumptions made by Olatec at the time this Press Release was prepared.

Commercial National Financial Corporation Reports 2nd Quarter 2021 Earnings

Retrieved on: 
Wednesday, July 28, 2021

ITHACA, Mich., July 28, 2021 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (Pink Sheets: CEFC) today announced second quarter 2021 net income of $1,412,000, or $.36 per share compared to second quarter 2020 net income of $1,147,000, or $.29 per share.

Key Points: 
  • ITHACA, Mich., July 28, 2021 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (Pink Sheets: CEFC) today announced second quarter 2021 net income of $1,412,000, or $.36 per share compared to second quarter 2020 net income of $1,147,000, or $.29 per share.
  • Return on Equity (ROE) was 13.15% for the second quarter of 2021 compared to 11.54% for the second quarter of 2020.
  • The provision for loan losses expense was zero for the second quarter of 2021, compared to $450,000 for the second quarter of 2020.
  • Commercial National Financial Corporation operates through a single subsidiary bank, Commercial Bank.