Griffin

Sowell Management Unveils Latest Strategic Move

Retrieved on: 
Thursday, April 4, 2024
Insurance, Finance, Asset Management, Consulting, Banking, Professional Services, Technology, Other Technology, Growth, Partnership, Knowledge, Long-term care, Management, Griffin, Sowell, RIA, Investment, Multimedia, Financial adviser

Sowell Management , a privately held Registered Investment Advisor (RIA) that serves financial advisors across the country, is proud to announce a partnership with Sowell Insurance Services, a key strategic business initiative focused on adding great value to our advisor community.

Key Points: 
  • Sowell Management , a privately held Registered Investment Advisor (RIA) that serves financial advisors across the country, is proud to announce a partnership with Sowell Insurance Services, a key strategic business initiative focused on adding great value to our advisor community.
  • View the full release here: https://www.businesswire.com/news/home/20240404357398/en/
    Bill Sowell, CEO and Founder of Sowell Management, and Daryl Seaton, President, collaborating on the strategic launch of Sowell Insurance Services, exemplifying the firm's commitment to innovative growth initiatives for its financial advisor partners.
  • The strategic alliance was chosen not merely to fill a gap but to leverage a critical opportunity for Sowell's advisor partners, aligning with Sowell Management’s broader strategic growth ambitions.
  • Looking forward, Bill Sowell, CEO and Founder of Sowell Management, indicated that the company is poised for more exciting developments.

Sean P. Griffin Named LSTA Executive Director

Retrieved on: 
Monday, April 1, 2024
Banking, Professional Services, Finance, CLO, LSTA, Griffin, J.P. Morgan & Co.

The Loan Syndications and Trading Association (“LSTA”), the trade association for the corporate loan market in the United States, today announced that Sean P. Griffin has been named Executive Director of the organization.

Key Points: 
  • The Loan Syndications and Trading Association (“LSTA”), the trade association for the corporate loan market in the United States, today announced that Sean P. Griffin has been named Executive Director of the organization.
  • Griffin joins the LSTA from J.P. Morgan Securities, where he was Managing Director responsible for the global primary CLO business, focusing on the origination, structuring, and distribution of CLO transactions for issuer-clients.
  • Griffin succeeds Lee M. Shaiman, 68, who will be retiring after he serves for a period as a senior advisor to the LSTA.
  • LSTA Board of Directors Co-Chairs David Lerner of Shenkman Capital and Alexander Stromberg of Barclays, said, “On behalf of the entire Board, we are delighted to welcome Sean Griffin aboard to lead the LSTA.

Griffin Gaming Partners Welcomes Aaron Loeb as New Operating Partner

Retrieved on: 
Friday, March 15, 2024
Electronic Games, Entertainment, Professional Services, Finance, Operating partner, Kabam, Partner, FoxNext, Fund, Griffin, Entrepreneurship, LionTree, Marvel Contest of Champions, The Simpsons: Tapped Out, Television, Video game

Griffin Gaming Partners, the world’s leading venture capital firm focused on the global gaming market, is proud to announce the addition of Aaron Loeb as Operating Partner.

Key Points: 
  • Griffin Gaming Partners, the world’s leading venture capital firm focused on the global gaming market, is proud to announce the addition of Aaron Loeb as Operating Partner.
  • "Having worked with Aaron during several pivotal industry transactions, I've witnessed firsthand his strategic acumen and deep understanding of the gaming world,” commented Nick Tuosto, Co-Founder and Managing Director at Griffin Gaming Partners.
  • Aaron Loeb's appointment as Operating Partner marks a significant milestone for Griffin Gaming Partners, reinforcing the firm's commitment to fostering innovation and excellence in the gaming industry.
  • Griffin Gaming Partners is the world’s leading venture capital firm focused on the global gaming market with over $1B in assets under management.

Xsolla Elevates Game Commerce With a Vision of Equal Access, Showcasing Innovative Solutions at GDC 2024

Retrieved on: 
Wednesday, March 13, 2024
Software, Audio, Video, Online, Mobile Entertainment, Technology, Electronic Commerce, Electronic Games, Entertainment, GAME, AAA, Corporation, Partner, Hearing, Internet celebrity, Business manager, Business, Partnership, SVP, Team17, Take Two, Team, SWAG, Commerce, Equal Access, Access, DMA, Mastercard, IDFA, Game Night, EVP, Coffee, Bored Ape, Knowledge, News, Acquisition, Food, House, Moscone Center, Investment, Economics, HOW, GM, Conference, Growth, Blockchain, Mobile, Griffin, Marketing, Shop, BUILD, Ecosystem, Multimedia, Video game

View the full release here: https://www.businesswire.com/news/home/20240313212487/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240313212487/en/
    "At the Game Developers Conference 2024, Xsolla proudly introduces 'Equal Access for Everyone,' a testament to our dedication to democratizing game commerce for developers of all sizes.
  • Join us at GDC to explore how we're shaping the future of video gaming commerce," said David Stelzer, President of Xsolla.
  • Dedicated to the growth and success of the game industry, Xsolla will host the Xsolla Developer Summit on Tuesday, March 19, 2024, at the Moscone West, room #2014.
  • With Xsolla’s global game commerce experts, discover how we empower developers to make more than a game and launch a successful gaming business.

Griffin Wheel workers strike over pension plans and forced overtime

Retrieved on: 
Wednesday, March 27, 2024
MB, Social justice, Pension, Interface (computing), Negotiation, Face, Griffin, Private sector, Nursing

They got this employer through the pandemic working long gruelling days and they deserve a good pension and respect for their hard work," said Unifor National President Lana Payne.

Key Points: 
  • They got this employer through the pandemic working long gruelling days and they deserve a good pension and respect for their hard work," said Unifor National President Lana Payne.
  • Members took strike action after the company announced it wanted to go from a Defined Benefit pension plan to a lesser Defined Contribution pension plan or eliminate it completely.
  • The company also wants to take away seniority rights and members are forced to work overtime shifts at Griffin Wheel three times a week, creating a severe lack of work-life balance.
  • The 181 members, represented by Local 144, work in melting and processing at Griffin Wheel.

Marriott Bonvoy and BetMGM Unlock a New World of "Play, Earn, Stay" with New Rewards Connection

Retrieved on: 
Monday, March 18, 2024
Contractual term, Friends, Sport, MGM Resorts International, Design Hotels, Partnership, Education, Condition, Griffin, Gambling, Ultimate, Collection, Love, Music, Golf, MGM, IOS, Android

BETHESDA, Md. and JERSEY CITY, N.J., March 18, 2024 /PRNewswire/ -- Marriott Bonvoy, Marriott International's award-winning travel program, and BetMGM, a leading sports betting and iGaming operator, today launched an unprecedented rewards collaboration in the online sports betting and iGaming industry, giving fans an extra stake in the game. 

Key Points: 
  • Players in licensed states can link their Marriott Bonvoy and BetMGM accounts and earn BetMGM Rewards points when they wager using the BetMGM sports betting app or play at the award-winning online casino.
  • "The collaboration with Marriott Bonvoy is a monumental differentiator for us," said BetMGM CEO Adam Greenblatt.
  • BetMGM offers a seamless user interface to earn BetMGM Rewards points and then transfer those points for Marriott Bonvoy points through the app's rewards store.
  • Marriott Bonvoy members and BetMGM users can link accounts through the BetMGM website, mobile app, or BetMGM Rewards store by accessing Account Details within their profile and following the prompts under 'My Rewards'.

The impact of regulatory changes on rating behaviour

Retrieved on: 
Tuesday, April 2, 2024
Długosz, Disagreement, Pi bond, Direct lending, Key, Research Papers in Economics, Finance Secretary (India), University of Oxford, STS, Journal of Economic Perspectives, International, American Economic Review, Life, Columbia Business School, British Academy of Management, Risk assessment, ABS, Rating, EBA, Development, Reputational damage, OBS, CRA, Bond credit rating, Cras, Journal of Monetary Economics, CDO, Becker, Paper, 2007–2008 financial crisis, Raja, University, Environment, Journal of Financial Economics, Perception, H3, Website, Securitization, Working paper, Market, Collection, Total, European Banking Authority, Quarterly Journal of Economics, BBB, Whetten, Column, ESMA, European Journal, Issuer, Asset quality, Information revolution, Federal Reserve Bank, OLS, Statistics, PDF, Private, ECB, Surety, Weighted-average life, CCC, European Commission, Social science, Journal of Financial Stability, JEL, Real, Bias, Journal, Research, Classification, Certification, Commission, Credit, The Journal of Finance, Literature, Karel Škréta, European Central Bank, AA, Finance Research Letters, Origination (telephony), Monetary economics, Section 5, Xia, Kraft Foods, Government, AAA, Mukherjee, Finance, Deku, DOI, White, Risk, IOSCO, MBS, OECD, Wang, Section 4, University Challenge 2013–14, Section 3, Ashcraft, Financial management, Accounting, Financial economics, Fannie Mae, Conference, Pressure, Central bank, Griffin, University of Michigan, Systematic review, EPRS, Freddie Mac, Loan, BCBS, Palgrave Macmillan, R2, Microeconomics, Quarterly Journal, Financial statement analysis, The Japanese Economic Review, Christian Social Union (UK), Green, University of Huddersfield, PSM, Management, Security (finance), Security, Civil service commission, Private placement, American Economic Journal, GFC, Reproduction, IMF, Small business, Trustee, Data

Abstract

Key Points: 
    • Abstract
      We examine rating behaviour after the introduction of new regulations regarding Credit Rating
      Agencies (CRAs) in the European securitisation market.
    • There is empirical evidence of rating catering in the securitisation market in the pre-GFC period (He et al.,
      2012; Efing and Hau, 2015).
    • Competition among
      CRAs could diminish ratings quality (Golan, Parlour, and Rajan, 2011) and promotes rating shopping by
      issuers resulting in rating inflation (Bolton et al., 2012).
    • This paper investigates the impact of the post-GFC regulatory changes in the European
      securitisation market.
    • In 2011, in addition to the creation of
      European Securities and Markets Authority (ESMA), a regulatory and supervisory body for CRAs was
      introduced.
    • We examine how rating behaviours have changed in the European securitisation market after the
      introduction of these new regulations.
    • We utilise the existence of multiple ratings and rating agreements between
      CRAs to identify the existence of rating shopping and rating catering, respectively (Griffin et al., 2013; He
      et al., 2012; 2016).
    • We find that the regulatory changes have been effective in tackling conflicts of interest between issuers
      and CRAs in the structured finance market.
    • Rating catering, which is a direct consequence of issuer and
      CRA collusion, seems to have disappeared after the introduction of these regulations.
    • There is empirical evidence of rating catering in the securitisation market in
      the pre-GFC period (He et al., 2012; Efing and Hau, 2015).
    • Competition among CRAs could diminish ratings quality (Golan, Parlour,
      and Rajan, 2011) and promotes rating shopping by issuers resulting in rating inflation (Bolton et
      al., 2012).
    • This paper investigates the impact of the post-GFC regulatory changes in the European
      securitisation market.
    • In 2011, in addition
      to the creation of European Securities and Markets Authority (ESMA), a regulatory and
      supervisory body for CRAs was introduced.
    • We find that the regulatory changes have been effective in tackling conflicts of interest
      between issuers and CRAs in the structured finance market.
    • Rating catering, which is a direct
      consequence of issuer and CRA collusion, seems to have disappeared after the introduction of
      these regulations.
    • Investors who previously demanded higher spreads for rating agreements for a
      multiple rated tranche, did not consider the effect of rating harmony as a risk in the post-GFC
      period.
    • Regarding rating shopping, we find that the effectiveness of the changes has been limited,
      potentially for two reasons.
    • Additionally, we also find that rating over-reliance might still be an issue, especially
      Rating catering is a broad term and it can involve rating shopping.
    • They re-examine the rating shopping and rating
      catering phenomena in the US market by looking at the post-crisis period between 2009 and 2013.
    • Using 622 CDO tranches, they also observe the existence of rating shopping and the diminishing
      of the rating catering.
    • Firstly, our main focus is the EU?s CRA Regulation and its effectiveness in reducing
      rating inflation and rating over-reliance.
    • To the best of our knowledge, this paper is the first to
      examine the effectiveness of the EU?s CRA regulatory changes on the investors? perception of
      rating inflation in the European ABS market.
    • Hence, the coverage and quality of our dataset constitutes significant addition
      to the literature and allows us to test the rating shopping and rating catering more authoritatively.
    • The following section reviews the literature
      on securitisation concerning CRAs and conflicts of interest, and outlines the regulatory changes
      introduced in the post-GFC period.
    • Firstly, ratings became ever more important as the Securities and
      Exchange Commission (SEC) 5 began heavily relying on CRA assessments for regulatory purposes
      (i.e.
    • the investment mandates that highlight rating agencies as the main benchmark for investment
      eligibility) (SEC, 2008; Kisgen and Strahan, 2010; Bolton et al., 2012).
    • issuers) as one of the main explanations for the rating inflation (He et al., 2011; 2012; Bolton
      et al., 2012; Efing and Hau, 2015).
    • Bolton et al., (2012) demonstrate that competition
      promotes rating shopping by issuers, leading to rating inflation.
    • The last phase, CRA III, was implemented in mid-2013 and involves an additional
      set of measures on reducing transparency and rating over-reliance.
    • As mentioned above, rating inflation can be caused by rating shopping
      In order to be eligible to use the STS classification, main parties (i.e.
    • The higher the difference in the number of ratings for a
      given ABS tranche, the greater the risk of rating shopping.
    • Alternatively, the impact of the new
      regulations could be limited when it comes to reducing rating shopping.
    • This is because, firstly,
      the conflict of interest between securitisation parties is not necessarily the sole cause for the
      occurrence of rating shopping.
    • L is a set of variables (Multiple ratings, CRA reported, Rating agreement) that
      we utilise interchangeably to capture the rating shopping and rating catering behaviour.
    • Hence, issuers are incentivised to report the highest possible rating and
      ensure each additional rating matches the desired level.
    • All in all, our results suggest that
      the new stricter regulatory measures have been effective in tackling conflicts of interest and
      reducing rating inflation caused by rating catering.
    • Self-selection might be a concern in analysing the impact of the
      new measures and investors? response with regard to the rating inflation.
    • This
      result is in line with the earlier findings suggesting that regulatory changes have reduced investors?
      suspicion of rating inflation and increased trust of CRAs.
    • Conclusion
      Several regulatory changes were introduced in Europe following the GFC aimed at tackling
      conflicts of interest between issuers and CRAs in the ABS market.
    • Utilising a sample of 12,469
      ABS issued between 1998 and 2018 in the European market, this paper examined whether these
      changes have had any impact on rating inflations caused by rating shopping and rating catering
      phenomena.
    • We find that the
      effectiveness of the changes has been more limited on rating shopping potentially for two reasons.
    • Tranche Credit Rating is the rating reported for a tranche at launch.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Gryphon Digital Mining, Inc. - GRYP

Retrieved on: 
Thursday, March 7, 2024
LLP, News, Pomerantz, Griffin, Cryptocurrency

NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Gryphon Digital Mining, Inc. (“Gryphon” or the “Company”) (NASDAQ: GRYP).

Key Points: 
  • NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Gryphon Digital Mining, Inc. (“Gryphon” or the “Company”) (NASDAQ: GRYP).
  • The investigation concerns whether Gryphon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • On February 12, 2024, Gryphon issued a press release announcing its operational update for January 2024.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

Rob Chang, CEO, Gryphon Digital Mining (GRYP) Featured on the debut of the Blockchangers Podcast

Retrieved on: 
Monday, March 4, 2024
Bitcoin, The Wall Street Journal, CFO, Bloomberg, Cantor Fitzgerald, Griffin, MBA, University, Bankruptcy, Uranium, Metal, CNBC, Miner, ATH, Cryptocurrency

With a focus on sustainability, Gryphon Digital Mining, Inc. aims to facilitate the integration of digital assets into clean energy grids.

Key Points: 
  • With a focus on sustainability, Gryphon Digital Mining, Inc. aims to facilitate the integration of digital assets into clean energy grids.
  • Mr. Chang is an experienced executive who most recently was the CFO of Riot Blockchain and has consulted for other publicly traded blockchain mining companies.
  • Mr.Chang is frequently quoted and a regular guest of several media outlets including Bloomberg, Reuters, CNBC, and The Wall Street Journal.
  • Mr.Chang also previously served as Director of Research and Portfolio Manager at an investment firm that managed $3 billion in assets.

Rob Chang, CEO, Gryphon Digital Mining (GRYP) Featured on the debut of the Blockchangers Podcast

Retrieved on: 
Monday, March 4, 2024
Bitcoin, The Wall Street Journal, CFO, Bloomberg, Cantor Fitzgerald, Griffin, MBA, University, Bankruptcy, Uranium, Metal, CNBC, Miner, ATH, Cryptocurrency

With a focus on sustainability, Gryphon Digital Mining, Inc. aims to facilitate the integration of digital assets into clean energy grids.

Key Points: 
  • With a focus on sustainability, Gryphon Digital Mining, Inc. aims to facilitate the integration of digital assets into clean energy grids.
  • Mr. Chang is an experienced executive who most recently was the CFO of Riot Blockchain and has consulted for other publicly traded blockchain mining companies.
  • Mr.Chang is frequently quoted and a regular guest of several media outlets including Bloomberg, Reuters, CNBC, and The Wall Street Journal.
  • Mr.Chang also previously served as Director of Research and Portfolio Manager at an investment firm that managed $3 billion in assets.