Financial services

Georgia: Team Europe - EIB’s immediate COVID-19 response in support of the MSME sector reaches a new milestone

Tuesday, March 2, 2021 - 12:03am

With this signature, the EIBs total immediate response to COVID-19 in the country comprises additional lending of over 70 million, and existing loans benefiting from COVID measures exceeding 90 million.

Key Points: 
  • With this signature, the EIBs total immediate response to COVID-19 in the country comprises additional lending of over 70 million, and existing loans benefiting from COVID measures exceeding 90 million.
  • The loan agreement was signed in the presence of Charles Michel, President of the European Council.
  • EIB President Werner Hoyer said:Team Europe and the EIB will continue to build up our support for Georgian MSMEs and fuel the economic and social recovery of the countrys economy from COVID-19.
  • Thanks to the increased loan amount, Liberty Bank will unlock significant additional lending for MSMEs in Georgia.
  • This is also a further sign of our commitment to help businesses of all sizes to get through these turbulent times.
  • The loan expansion comes with a 450000 technical assistance component to help Liberty Bank improve and expand its offer for MSMEs.
  • This credit line comes with increased attractiveness to SMEs benefiting from the more flexible lending terms enabled by the EIBs COVID-19 emergency measures.
  • These measures are extended as part of Team Europes efforts to support Georgia and other EU partner countries during the pandemic.
  • For more information on the EIBs activities in Georgia please follow this link.

Hazeltree and Goldman Sachs TxB® Partner to Provide Investment Management Firms with Streamlined Treasury and Global Payments

Tuesday, March 2, 2021 - 12:00am

NEW YORK, March 02, 2021 (GLOBE NEWSWIRE) -- Hazeltree , the leading provider of integrated treasury management and portfolio finance solutions for investment managers, and Goldman Sachs (NYSE: GS) Transaction Banking (TxB), today announced a joint solution to streamline treasury management with integrated global payments and FX capabilities.

Key Points: 
  • NEW YORK, March 02, 2021 (GLOBE NEWSWIRE) -- Hazeltree , the leading provider of integrated treasury management and portfolio finance solutions for investment managers, and Goldman Sachs (NYSE: GS) Transaction Banking (TxB), today announced a joint solution to streamline treasury management with integrated global payments and FX capabilities.
  • The partnership combines Hazeltrees unique treasury management and payment workflow solutions, built specifically for investment managers, with Goldman Sachs tech-forward global payment and FX capabilities.
  • Were excited to be partnering with Hazeltree to offer our innovative yet simplified Global Payments solution to investments management firms, saidHari Moorthy, global head of Transaction Banking at Goldman Sachs.
  • Hazeltrees integrated treasury management solution includes comprehensive cash management, securities finance, collateral and margin management, and counterparty management.

United Fire Group, Inc. to Participate in the 46th Annual AIFA Conference

Monday, March 1, 2021 - 11:00pm

During the one-on-one meetings, management will present early estimates of some performance measures for first quarter of 2021.

Key Points: 
  • During the one-on-one meetings, management will present early estimates of some performance measures for first quarter of 2021.
  • UFG's presentation for the meetings can be found on its website at the following address: https://ir.ufginsurance.com/events-and-presentations/event-calendar.
  • Founded in 1946 as United Fire & Casualty Company, UFG, through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance.
  • A.M. Best Company assigns a rating of "A" (Excellent) for members of the United Fire & Casualty Group.

Square Financial Services Begins Banking Operations

Monday, March 1, 2021 - 11:00pm

Today, Square, Inc. announced its industrial bank, Square Financial Services, has begun operations after completing the charter approval process with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions.

Key Points: 
  • Today, Square, Inc. announced its industrial bank, Square Financial Services, has begun operations after completing the charter approval process with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions.
  • Moving forward, Square Financial Services will be the primary provider of financing for Square sellers across the U.S.
  • Bringing banking capability in-house enables us to operate more nimbly, which will serve Square and our customers as we continue the work to create financial tools that serve the underserved, said Amrita Ahuja, Square, Inc. Chief Financial Officer and Executive Chairwoman of the board of directors for Square Financial Services.
  • Completing the Square Financial Services executive team are leaders who bring collective deep experience across banking, finance, and lending.

Universal Insurance Holdings Declares Cash Dividend of 16 Cents per Share

Monday, March 1, 2021 - 9:15pm

Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that its Board of Directors has declared a quarterly cash dividend of 16 cents per share of common stock, payable March 18, 2021, to shareholders of record as of the close of business on March 11, 2021.

Key Points: 
  • Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that its Board of Directors has declared a quarterly cash dividend of 16 cents per share of common stock, payable March 18, 2021, to shareholders of record as of the close of business on March 11, 2021.
  • Universal Insurance Holdings (UVE) is a holding company offering property and casualty insurance and value-added insurance services.
  • We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution.
  • We sell insurance products through both our appointed independent agents and through our direct online distribution channels in the United States across 19 states (primarily Florida).

RiskExec's Breakout Year in 2020

Monday, March 1, 2021 - 8:24pm

Over the course of the year, RiskExec platform users expanded by over 30%.

Key Points: 
  • Over the course of the year, RiskExec platform users expanded by over 30%.
  • The nearly 800 active users represent:
    In 2020, RiskExec processed 40% of the nationwide HMDA loan application records in its HMDA/CRA module, providing executive and regulatory reporting for the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), and fair lending compliance requirements.
  • Loan servicing practices are becoming ever more critical in the world of COVID-19 loan forbearance and modification.
  • RiskExec customers are now able to construct Peer PPP Groups based on geographies and analyze their own data against peers.

Gemspring Capital Promotes Alex Shakibnia to Managing Director

Monday, March 1, 2021 - 7:59pm

WESTPORT,Conn., March 1, 2021 /PRNewswire/ --Gemspring Capital, a middle-market private equity firm, is pleased to announce that Alex Shakibnia has been promoted to Managing Director.

Key Points: 
  • WESTPORT,Conn., March 1, 2021 /PRNewswire/ --Gemspring Capital, a middle-market private equity firm, is pleased to announce that Alex Shakibnia has been promoted to Managing Director.
  • Prior to joining Gemspring, Alex worked at FFL Partners, a San Francisco based middle-market private equity firm.Alexbeganhis career asan investment bankinganalystat CreditSuisse.
  • Bret Wiener, Managing Partner of Gemspring Capital, commented, "Alex has played an integral role at Gemspring since the firm's inception.
  • Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.1 billion of capital under management, provides flexible capital solutions to lower middle market companies headquartered in the United States and Canada.

Schechter Investment Advisors Adds Michael B. Schoffman as a Senior Advisor

Monday, March 1, 2021 - 6:27pm

BIRMINGHAM, Mich., March 1, 2021 /PRNewswire/ --Schechter Investment Advisors ("SIA"), an independent registered investment advisor firm, has announced the addition of Michael B. Schoffman, CFP, CDFA, CRPC as a Senior Advisor.

Key Points: 
  • BIRMINGHAM, Mich., March 1, 2021 /PRNewswire/ --Schechter Investment Advisors ("SIA"), an independent registered investment advisor firm, has announced the addition of Michael B. Schoffman, CFP, CDFA, CRPC as a Senior Advisor.
  • At Schechter, Schoffman will provide SIA clients with dedicated investment management and financial planning guidance tailored to their unique financial goals.
  • Schoffman's addition will also enable Aaron Hodari, Managing Director, Chief Investment Officer, to dedicate more time to the development of new investment opportunities and portfolio strategies for Schechter clients.
  • Schoffman has held financial advisory roles with Retirement Planners of America (RPOA), USAA Financial Planning, UBS, and Merrill Lynch.

Blue Shield of California Donates $40 Million to its Foundation

Monday, March 1, 2021 - 4:00pm

OAKLAND, Calif., March 1, 2021 /PRNewswire/ --Blue Shield of California has made a $40-million contribution to Blue Shield of California Foundation to support its efforts to end domestic violence and to make California the healthiest state.

Key Points: 
  • OAKLAND, Calif., March 1, 2021 /PRNewswire/ --Blue Shield of California has made a $40-million contribution to Blue Shield of California Foundation to support its efforts to end domestic violence and to make California the healthiest state.
  • Blue Shield of California Foundation is an independent, nonprofit organization that is funded entirely by contributions from Blue Shield of California.
  • "We are pleased to support, and continue to appreciate, the great work by Blue Shield of California Foundation," said Paul Markovich, president and CEO of Blue Shield of California.
  • Said Debbie Chang, president and CEO of Blue Shield of California Foundation: "We are grateful for the support of Blue Shield of California, which enables us to make progress toward our bold goals of making California the healthiest state and ending domestic violence.

Context Business Lending Launches an E-Commerce Division

Monday, March 1, 2021 - 3:15pm

BALA CYNWYD, Pa., March 1, 2021 /PRNewswire/ --Context Business Lending, LLC ("CBL") a family office-backed leading, national asset-based lender becoming increasingly well known for disrupting non-bank Asset Based Lending ("ABL") industry, announced today the launch of its official E-Commerce Division .

Key Points: 
  • BALA CYNWYD, Pa., March 1, 2021 /PRNewswire/ --Context Business Lending, LLC ("CBL") a family office-backed leading, national asset-based lender becoming increasingly well known for disrupting non-bank Asset Based Lending ("ABL") industry, announced today the launch of its official E-Commerce Division .
  • Context Business Lending is a leading, national asset-based lender focused on providing flexible working capital for lower middle market businesses that do not qualify for traditional bank financing.
  • During this period where COVID-19 is having a profound impact on working capital needs of many businesses, Context Business Lending is increasingly flexible and continuing to take a holistic view of a businesses' challenges and opportunities.
  • Context Business Lending is sector agnostic and works with businesses in the manufacturing, distribution, wholesaling, consumer products, e-Commerce and service industries.