Fintech PR
Global Boards Show Progress in Sustainability, But AI and Geopolitical Risks Loom Large, Reports Heidrick & Struggles
New global survey by Heidrick & Struggles, BCG, and INSEAD, reveals growing confidence in sustainability governance, but boards and CEOs still lack confidence in each other’s leadership
LONDON, Nov. 19, 2024 /PRNewswire/ — Heidrick & Struggles (Nasdaq: HSII), a premier provider of global leadership advisory and on-demand talent solutions, has teamed with Boston Consulting Group (BCG) and the INSEAD Corporate Governance Centre, to publish a report exploring how boards are responding to complex trends and disruptions they currently face. Boards and Society: How Boards Are Evolving to Meet Challenges from Sustainability to Geopolitical Volatility reveals boards have made meaningful advances to address sustainability topics, but are less confident when it comes to their understanding of other issues such as the rising importance of generative AI, intensifying trade and geopolitical disruptions. These four interconnected pillars are forcing directors and CEOs to navigate an increasingly unpredictable environment filled with conflicting and often politically charged demands.
Additionally, the report shows evidence of simmering discord among company leadership on how best to enhance competitiveness amid the challenges they face.
Key Findings from the Boardroom
- 77% of boards believe their company has a responsibility to address sustainability concerns
- 36% feel prepared to leverage the disruptive potential of AI
- 37% believe their company has a sufficient strategy around geopolitical risk
- 29% of directors do not have faith in their CEO to navigate uncertainty
- 26% of CEOs do not have faith in their board’s effectiveness
- Half of respondents are not confident their company is equipped to identify new threats and opportunities related to sustainability, generative AI and geopolitics
The report reveals that 77% of the global board members surveyed believe their company has a responsibility to address societal concerns, although more than half (54%) believe that business objectives should remain the primary focus. In contrast to this enthusiasm around sustainability, only 36% of directors feel prepared to leverage the disruptive potential of AI, while just 37% agree that their companies have sufficient strategies in place to manage geopolitical risks.
These findings highlight an urgent need for greater balance between traditional governance with forward-looking strategies and increased investment in board competency. Despite lower levels of confidence for the prevailing risks and emerging technologies of our time, it is encouraging to note that more than 60% of directors stated that their boards are “leaning in” on risk management, suggesting a desire to tackle these challenges head on, regardless of their complexity.
Lack of Confidence Amid Growing Complexity
In a concerning indication of division within the boardroom, the new report reveals that 29% of directors lack confidence in their CEO’s ability to navigate disruption and boost long-term value. Meanwhile, a comparable number of CEOs (26%) are equally skeptical of their board’s effectiveness, reflecting an increasing tension between top leadership teams grappling with a more complex and diverse range of issues than ever before.
The report also finds that roughly half of directors are not confident their company is equipped to identify new threats and opportunities related to sustainability, generative AI and geopolitics, nor are they able translate them into a competitive advantage. As global business landscapes continue to shift, the ability of boards to stay cohesive, align with leadership, and adapt to new challenges with innovative corporate strategy will be more critical than ever. Effective governance that embraces both foresight and resilience will be key in turning these disruptions into opportunities, allowing businesses not only to survive but to thrive in an increasingly volatile world.
Commenting on the findings, Jeremy Hanson, Partner with Heidrick & Struggles and Co-author of the report, commented: “While it is encouraging that boards are stepping up on sustainability, this year’s survey reveals tensions between directors and management regarding each other’s capacity to navigate disruption. With so much at stake—and an increasing complexity to unpack—alignment between board directors and management isn’t just a best practice; it’s essential for addressing both today’s challenges and those of the future. Importantly, alignment does not mean boards should shy away from constructive debate with management. In fact, fostering open, even difficult, conversations is crucial for boards to reach resilient, well-rounded decisions in today’s demanding environment.”
Sonia Tatar, Executive Director of INSEAD Corporate Governance Centre, said, “Boards today can benefit from moving from being reactive to proactive. Beyond understanding disruptions, they can focus on looking ahead—anticipating future shocks and potential risks and finding ways to capitalize on the emerging trends to leverage opportunities. By translating insights that inform decision-making into strategic actions, they will be better positioned to guide companies in becoming more resilient and navigating change effectively.”
Also commenting on the report, David Young, Managing Director and Senior Partner of BCG added: “Boards are facing new and increasingly complex challenges, amid geopolitical uncertainty, rapid advances in technology, and continued concerns over the impact of climate change. But boards have made notable progress in tackling sustainability–and now there is opportunity for them to learn from these efforts as they engage in deep conversations with executive leadership to confront this expanding agenda.”
Media Inquiries:
Heidrick & Struggles: [email protected]
BCG: [email protected]
INSEAD: [email protected]
About Heidrick & Struggles:
Heidrick & Struggles (Nasdaq: HSII) is a premier provider of global leadership advisory and on-demand talent solutions, serving the senior-level talent and consulting needs of the world’s top organizations. In our role as trusted leadership advisors, we partner with our clients to develop future-ready leaders and organizations, bringing together our services and offerings in executive search, diversity and inclusion, leadership assessment and development, organization and team acceleration, culture shaping and on-demand, independent talent solutions. Heidrick & Struggles pioneered the profession of executive search more than 70 years ago. Today, the firm provides integrated talent and human capital solutions to help our clients change the world, one leadership team at a time. For more, please visit www.heidrick.com
About BCG:
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.
Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.
About INSEAD:
As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures, and ideas to develop responsible leaders who transform business and society. Its research, teaching and partnerships reflect this global perspective and cultural diversity.
With locations in Europe, Asia, the Middle East, and North America, INSEAD’s business education and research spans four regions. 159 renowned Faculty members from 41 countries inspire more than 1,500 degree participants annually in the Master in Management, MBA, Global Executive MBA, Specialised Master’s degrees (Executive Master in Finance and Executive Master in Change) and PhD programmes. In addition, more than 18,000 executives participate in INSEAD Executive Education programmes each year.
INSEAD continues to conduct innovative research and innovate across all programmes. The organisation provides business leaders with the knowledge and awareness to operate anywhere. Its core values drive academic excellence and serve the global community as The Business School for the World. For more information, please visit www.insead.edu.
About INSEAD Corporate Governance Centre:
The INSEAD Corporate Governance Centre (ICGC) has been actively engaged in making a distinctive contribution to the knowledge and practice of corporate governance globally. Its vision is to be the leading center for research, innovation, and impact in corporate governance. Through its educational portfolio and advocacy, the ICGC seeks to build greater trust within the public and stakeholder communities, so that businesses are a powerful force for improvement, not only of economic markets but also for the global societal environment. For more, visit www.insead.edu/centres/corporate-governance.
View original content:https://www.prnewswire.co.uk/news-releases/global-boards-show-progress-in-sustainability-but-ai-and-geopolitical-risks-loom-large-reports-heidrick–struggles-302309627.html
Fintech PR
ShowPlus Chain (SHC2): Following XT.COM Success, BitMart Listing and Major Global Exchange Plans
SEOUL, South Korea, Nov. 19, 2024 /PRNewswire/ –ShowPlus Chain (SHC2), the core token of the ShowPlus (Show+®) ecosystem, made a successful debut in the global cryptocurrency market with its listing on XT.COM. Despite its early stage, SHC2 has seen a remarkable surge in trading volume and garnered significant attention. Now, it is set to achieve another milestone with its second exchange listing on BitMart, scheduled for 7:00 AM GMT on November 20, 2024.
XT.COM Listing: A Promising Start for SHC2
The XT.COM listing marked a significant step forward for SHC2 in the global market. By bridging digital assets with real-world applications, SHC2 has delivered new value in diverse industries such as entertainment, e-commerce, accommodation, and banking & payment.
Following its XT.COM debut, SHC2 witnessed record-breaking trading volumes and growing community interest, highlighting its practical utility and growth potential. This strong performance serves as a solid foundation for a successful launch on BitMart.
BitMart Listing: A Key Milestone in Global Expansion
The upcoming BitMart listing represents a crucial turning point in SHC2’s growth journey. Scheduled for 7:00 AM GMT on November 20, 2024, this listing will provide SHC2 with access to a broader investor base and further strengthen its position in the cryptocurrency market.
Beyond BitMart, SHC2 has already secured plans to list on 2–3 major global exchanges, starting in December 2024. These strategic expansions will enhance SHC2’s global footprint and establish it as a leading digital asset in the cryptocurrency market.
SHC2: An Innovative Digital Asset with Real-World Utility
SHC2 goes beyond being a mere digital asset; it plays a central role within the ShowPlus ecosystem. By supporting prize distribution, sponsorships, and transparent financial transactions, SHC2 integrates seamlessly with platforms such as Show+Rich, Show+Bank, and Show+Trip, offering tangible benefits to its users.
Moreover, SHC2 leverages blockchain security and transparency to deliver real-world value in sectors such as entertainment, e-commerce, banking & payment, and travel, setting a new standard for digital economic solutions.
Global Vision and Ecosystem Expansion
The BitMart listing marks a significant step in accelerating the expansion of the SHC2 ecosystem. With its growing platform, ShowPlus is prepared to connect with millions of users, offering blockchain-driven solutions across finance, travel, and entertainment.
Additionally, SHC2’s upcoming listings on major global exchanges will foster deeper connections with international communities, positioning it as a new benchmark in the digital asset market.
Join the Journey of Innovation
SHC2’s innovative journey has just begun. With the success of its XT.COM debut, the BitMart listing on November 20, 2024, at 7:00 AM GMT, and plans for major global exchange listings, SHC2 is rapidly growing and redefining the future of the digital economy.
For more information, visit www.showplus-chain.io. Join SHC2 to experience the next wave of digital economic innovation!
Photo – https://mma.prnewswire.com/media/2561828/ShowPlus_Chain.jpg
View original content:https://www.prnewswire.co.uk/news-releases/showplus-chain-shc2-following-xtcom-success-bitmart-listing-and-major-global-exchange-plans-302309968.html
LONDON, Nov. 19, 2024 /PRNewswire/ — Wirex, a leading Web3 money app, is thrilled to announce a groundbreaking global alliance with Banking Circle, a leading provider of next-generation banking services.
This strategic collaboration is set to dramatically enhance Wirex’s financial operations across the globe, empowering millions of users with cutting-edge banking solutions.
Under the cooperation, Banking Circle will provide a robust range of banking services that are crucial to Wirex’s continued global expansion and the enhancement of its financial ecosystem. These services will include:
- Global bank accounts for Wirex: Supporting the company’s global expansion by optimizing treasury operations and enabling more seamless management of fiat and digital currencies.
- New payment services to simplify user experience: Offering instant bank transfers and faster payment solutions, allowing users to send and receive funds effortlessly around the world.
- Settlement and FX solutions for Wirex: Facilitating smoother, real-time payment flows within Wirex’s expanding collaboration network.
- Liquidity management facilities: Ensuring the scalability and resilience of Wirex’s financial services as it grows its ecosystem globally.
By leveraging Banking Circle’s infrastructure, Wirex will deliver an enhanced, more flexible financial experience for both retail and business users worldwide.
“We are proud to work with Banking Circle, whose leadership in the global financial infrastructure space is unmatched,” said Svyatoslav Garal, Global Head of Payments at Wirex. “By expanding our capabilities and providing greater access to seamless financial solutions, we’re reinforcing our commitment to bridging digital and traditional finance. This collaboration is a natural step in enhancing our global platform to create a more efficient experience for everyone.”
Cindy Liu, Co-Head Global Account Management: “Working with Wirex is a key move in our goal to revolutionize global finance with efficient and transparent solutions. Wirex’s commitment to pushing the boundaries of fintech makes them the perfect fit to reach new heights in digital finance. By combining our strengths, we’re confident this collaboration will be a game-changer for global payments and financial services.”
This collaboration signifies a bold step forward for both Wirex and Banking Circle, uniting two industry leaders committed to revolutionizing the financial landscape. Together, they will unlock new opportunities in the global payments space, offering a seamless fusion of digital and traditional finance.
About Wirex
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
| wirexapp.com |
About Banking Circle S.A.
Banking Circle S.A. is a modern correspondent bank committed to building a local clearing network for all major currencies, to deliver fast, low-cost payments with no hidden fees for the beneficiary. As a fully licenced bank, free of legacy systems, Banking Circle enables payments companies and banks of any scale to seize opportunities in the new economy – quickly, at low cost. It provides a suite of unique and award-winning banking solutions, including multi-currency banking accounts and Virtual IBANs, bank connections for local clearing and cross-border payments, all underpinned by market leading compliance and security.
Headquartered in Luxembourg, Banking Circle Group has branches in Denmark, Germany, the UK, the US, Singapore, Lichtenstein and Australia. For more information on Banking Circle, please visit www.bankingcircle.com
Photo: https://mma.prnewswire.com/media/2561756/Wirex_Banking_Circle.jpg
Logo: https://mma.prnewswire.com/media/2286023/5035652/Wirex_logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/wirex-works-with-banking-circle-to-revolutionize-global-financial-operations-302309865.html
CHENGDU, China, Nov. 19, 2024 /PRNewswire/ — A matchmaking event for scientific and technological achievements was held on Nov 18 in Chengdu, capital of Southwest China’s Sichuan province, drawing participants from 500 top universities, research institutions, technology enterprises, financial institutions, and technology transfer agencies.
The event aims to build a platform for both the technology demand and supply sides, to further facilitate the transformation of scientific and technological achievements in Chengdu, according to the organizers.
During the event, the Chinese Academy of Sciences, Tsinghua University, Shanghai Jiao Tong University, University of Science and Technology of China, Sichuan University, and University of Electronic Science and Technology of China released a total of over 400 scientific and technological achievements.
The Chengdu city government signed a strategic cooperation agreement with the City University of Hong Kong, to deepen cooperation in fields including promoting the transformation of scientific and technological achievements in Chengdu, jointly building a scientific and technological innovation platform, introducing and cultivating high-level innovative talents, and jointly establishing a science and technology innovation fund.
Chengdu’s districts, counties and county-level cities signed cooperation agreements on 17 achievement transformation projects with universities, research institutes and enterprises.
Xinghan Hangyu Technology Co Ltd signed an agreement with Chengdu’s Longquanyi district to build a reusable liquid-propellant carrier rocket headquarters project. Duan Tao, deputy general manager of the company, said his company chose Chengdu because of its ideal innovation environment.
The project, with an investment of 4 billion yuan ($552 million), will focus on the research, development and manufacturing of small, medium and large commercial carrier rockets, as well as liquid-propellant rocket engines.
More than 30 research teams conducted roadshows at the event, focusing on areas such as electronic information, intelligent manufacturing, pharmaceuticals and health, aerospace, green and low-carbon technologies, new materials, artificial intelligence, low-altitude economy, and hydrogen energy.
Zhai Shaojian, deputy general manager of Chengdu Zhongkewei Information Technology Research Institute Co Ltd, who introduced his company’s low-orbit broadband satellite terminal project at the roadshow, said the project received enthusiastic attention, with many partners expressing interest in collaborating to build the industrial chain together.
Officials at the Chengdu Science and Technology Bureau said they will regularly hold such matchmaking events to gather domestic and international innovation resources, thus creating a global market for technology transactions.
View original content:https://www.prnewswire.co.uk/news-releases/chengdu-holds-matchmaking-event-for-tech-achievement-transformation-302309770.html
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