Financial services

StepStone Announces Closing of Initial Public Offering

Friday, September 18, 2020 - 4:54pm

NEW YORK, Sept. 18, 2020 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP) today announced the closing of its initial public offering of 20,125,000 shares of its Class A common stock, which includes the exercise in full by the underwriters of their option to purchase up to 2,625,000 additional shares of Class A common stock, at a public offering price of $18.00 per share.

Key Points: 
  • NEW YORK, Sept. 18, 2020 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP) today announced the closing of its initial public offering of 20,125,000 shares of its Class A common stock, which includes the exercise in full by the underwriters of their option to purchase up to 2,625,000 additional shares of Class A common stock, at a public offering price of $18.00 per share.
  • The shares began trading on the Nasdaq Global Select Market on September 16, 2020 under the ticker symbol STEP.
  • J.P. Morgan, Goldman Sachs & Co. LLC and Morgan Stanley acted as joint lead book-running managers for the offering.
  • Barclays and UBS Investment Bank acted as joint book-running managers for the offering.

Imperial Capital Expands Emerging Markets Sales with the Hiring of Erik Hammes

Friday, September 18, 2020 - 3:30pm

LOS ANGELES, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Imperial Capital, LLC (Imperial Capital), announced today the continued growth of its dedicated Emerging Markets Sales and Trading Group with the hiring of senior sales professional, Erik Hammes.

Key Points: 
  • LOS ANGELES, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Imperial Capital, LLC (Imperial Capital), announced today the continued growth of its dedicated Emerging Markets Sales and Trading Group with the hiring of senior sales professional, Erik Hammes.
  • Erik will report to James Kenney and Matt Clinton who joined Imperial Capital in November 2019 to co-head its Global Emerging Markets Sales & Trading Group.
  • Prior to joining Imperial Capital, Mr. Hammes was a Director, Emerging Markets Credit Trader with Stifel.
  • Complementing Imperial Capitals existing corporate credit sales and trading franchise, Imperial Capital International expanded the Imperial Capital franchise into the EEA.

AM Best Affirms Credit Ratings of Samsung Fire & Marine Insurance Co., Ltd. and Its Subsidiaries; Revises Outlooks to Stable for Samsung Reinsurance Pte. Ltd.

Friday, September 18, 2020 - 3:56pm

The companys combined ratio was the lowest in South Koreas insurance industry for 2019, despite an industry-wide deterioration in underwriting performance during the year.

Key Points: 
  • The companys combined ratio was the lowest in South Koreas insurance industry for 2019, despite an industry-wide deterioration in underwriting performance during the year.
  • Reinsurance credit risk is partially offset by the companys well-diversified reinsurance panel with good credit profiles, including SFM.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

American National offers information and resources during wildfires

Friday, September 18, 2020 - 2:31pm

If you are an American National policyholder:

Key Points: 
  • If you are an American National policyholder:
    For clients already in the midst of these unprecedented wildfires, please call our 24-hour Claims Hotline at 1.800.333.2860 if you have any questions.
  • American National Insurance Company, founded in 1905 and headquartered in Galveston, Texas, and other American National subsidiaries offer a broad portfolio of products and services, which include life insurance, annuities, property and casualty insurance, health insurance, credit insurance, and pension products.
  • American National established a dedicated property and casualty division in 1973 with American National Property And Casualty Company, Springfield, MO.
  • To better serve the unique insurance needs of the agricultural market, American National acquired the Farm Family group of insurance companies based in NY in 2001.

Barron's Names Edelman Financial Engines America's Top Independent Registered Investment Advisor

Friday, September 18, 2020 - 2:30pm

Edelman Financial Engines has been named the nation's top independent Registered Investment Advisor (RIA) by Barron's for the third straight year.

Key Points: 
  • Edelman Financial Engines has been named the nation's top independent Registered Investment Advisor (RIA) by Barron's for the third straight year.
  • "We are proud of our standing as Americas top RIA," said Larry Raffone, President and CEO of Edelman Financial Engines.
  • Since 1986, Edelman Financial Engines has been committed to always acting in the best interest of our clients.
  • The 2018 ranking refers to Edelman Financial Services, LLC, which combined its advisory business in its entirety with Financial Engines Advisors L.L.C.

Barrett Asset Management Partner Earns Retirement Income Certified Professional® (RICP®) Designation

Friday, September 18, 2020 - 2:00pm

NEW YORK, Sept. 18, 2020 /PRNewswire-PRWeb/ -- Barrett Asset Management, LLC, is pleased to announce that Christina Bater, CFP has earned the Retirement Income Certified Professional (RICP) designation from The American College of Financial Services.

Key Points: 
  • NEW YORK, Sept. 18, 2020 /PRNewswire-PRWeb/ -- Barrett Asset Management, LLC, is pleased to announce that Christina Bater, CFP has earned the Retirement Income Certified Professional (RICP) designation from The American College of Financial Services.
  • Using the most current retirement portfolio management techniques, the RICP advisor helps to identify retirement income needs and objectives relative to the client's lifestyle goals in retirement.
  • The RICP educational curricula is the most complete and comprehensive program available to professional financial advisors looking to help their clients create sustainable retirement income.
  • The rigorous three-course credential helps advisors master retirement income planning, a key focus area not fully covered in other professional designation programs.

DGAP-News: GRENKE AG: Detailed response: GRENKE AG rebuts accusations by Viceroy Research

Friday, September 18, 2020 - 2:04pm

Baden-Baden, September 18, 2020: GRENKE AG, a global financing partner for small and medium-sized enterprises, continues to vigorously reject the allegations raised by Viceroy Research following the review of the 64-page report.

Key Points: 
  • Baden-Baden, September 18, 2020: GRENKE AG, a global financing partner for small and medium-sized enterprises, continues to vigorously reject the allegations raised by Viceroy Research following the review of the 64-page report.
  • Antje Leminsky, Chair of the Board of Directors of GRENKE AG comments: "The allegations raised in this so-called research report are completely unfounded.
  • At that time, Wolfgang Grenke acquired CTP's parent company Sacoma AG and proactively notified BaFin and the Bundesbank.
  • GRENKE AG also emphasises that former GRENKE employees are among the managing directors of the franchise companies.

R.D. Hoag & Associates, LLC, Joins Accounting Association CPAmerica

Friday, September 18, 2020 - 7:00am

Hoag & Associates, LLC , headquartered in Carnegie, Pa., has joined CPAmerica, Inc., an accounting association of independent, certified public accounting firms that provides shared best practices, networking opportunities and access to expert resources for member firms.

Key Points: 
  • Hoag & Associates, LLC , headquartered in Carnegie, Pa., has joined CPAmerica, Inc., an accounting association of independent, certified public accounting firms that provides shared best practices, networking opportunities and access to expert resources for member firms.
  • Hoag & Associates, LLC, is a full-service public accounting firm that offers a broad range of tax, accounting, and auditing services for businesses, individuals, not-for-profit organizations, employee benefit plans, and local governments.
  • "Our firm is excited about the collaborative opportunities available with CPAmerica," said M. Kent Moorhead II CPA, partner at R.D.
  • As an exclusive association of independent CPA firms, CPAmerica provides opportunities for its members to continuously improve.

EIB approves € 12.6 billion financing for transport, clean energy, urban development and COVID-19 resilience

Friday, September 18, 2020 - 12:08am

The European Investment Bank (EIB) today approved 12.6 billion of new financing for projects across Europe and around the world.

Key Points: 
  • The European Investment Bank (EIB) today approved 12.6 billion of new financing for projects across Europe and around the world.
  • New financing agreed today includes more than 3.1 billion of COVID-19-related investment to improve public health, strengthen public services and back investment by companies in sectors hit by the pandemic.
  • Since the start of the COVID-19 crisis, the EIB has approved 20.1 billion to enable public and private partners around the world to better tackle health, social and economic challenges.
  • The EIB Board, meeting by video conference, also backed investment in agriculture, water, housing, telecommunications and urban development across Europe, as well as in Africa, Asia and Latin America.
  • Fighting climate change and tackling the COVID-19 pandemic must go hand in hand to achieve a green recovery.
  • 1.6 billion will be used to finance small-scale local climate action projects in France, Italy and across the EU, managed by experienced financing partners.
  • Improving urban development and social housing Thousands of families will benefit from new large-scale social housing investment across France and in Germany under new financing programs approved today.
  • The EIB Board also agreed to support the New Slussen urban development project that will transform of the heart of the Swedish capital Stockholm.

ECB’s Governing Council says that exceptional circumstances justify leverage ratio relief

Friday, September 18, 2020 - 12:04am

PRESS RELEASE

Key Points: 
  • PRESS RELEASE

    ECBs Governing Council says that exceptional circumstances justify leverage ratio relief

    17 September 2020

    The Governing Council of the European Central Bank (ECB) has decided that it concurs with ECB Banking supervision that there are exceptional circumstances allowing the temporary exclusion of certain central bank exposures from the leverage ratio.

  • The Governing Council said in an opinion: The situation brought about by the coronavirus (COVID-19) pandemic has affected all euro area economies in an unprecedented and profound way.
  • In the view of the Governing Council, therefore, the condition of exceptional circumstances warranting the temporary exclusion of certain exposures to central banks from the calculation of banks total exposure measures is met for the euro area as a whole.
  • This opinion of the Governing Council is a precondition for ECB Banking Supervision to allow significant banks that it directly supervises to exclude certain central bank exposures from the leverage ratio.