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Banking heavyweight Markus Sauerland, former CEO of Nomura Financial Products Europe GmbH, joins NowCM as COO and Co-CEO

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LUXEMBOURG, April 23, 2024 /PRNewswire/ — NowCM is delighted to announce the appointment of Markus Sauerland as its new Chief Operating Officer and Co-Chief Executive Officer, effective 1 April 2024. Stationed in Frankfurt am Main, Markus brings over thirty years of global expertise in banking and capital markets to his new role at NowCM. Renowned for his leadership acumen, Markus has a distinguished track record of spearheading organizational growth and enhancing operational efficiency in complex financial environments.

Professional Background of Markus Sauerland:

In 2019, Markus Sauerland was appointed Chief Operating Officer at Nomura Financial Products Europe GmbH, tasked with launching and leading the newly established European investment firm. His leadership and strategic vision led to his promotion in 2022 as CEO and Chairman of the Management Board.

Before joining Nomura, Markus had a prolific career at Deutsche Bank from 1993 to 2012, where he held several key positions across major financial hubs in Frankfurt, London, and New York. His roles included Chief Operating Officer for Group Finance, Global CFO for Global Markets (Trading & Sales), CFO for Fixed Income Americas, and CFO for Global Foreign Exchange.

Following a sabbatical in 2014, Markus joined PwC Financial Services in Germany as a Senior Advisor, focusing on Business Development to enhance product development capabilities and bolster brand strength and profitability. He was later elevated to Leader of Banking and Capital Markets in Germany, where he oversaw the delivery of Audit, Tax, and Consulting solutions to clients.

Markus is an alumnus of the University of California, Irvine, and George-August University Göttingen, where he studied Economics and Business Administration.

Strategic Role and Vision at NowCM:

Markus Sauerland’s profound expertise in international banking and financial operations is ideally suited to NowCM’s strategic goals of advancing its sophisticated operational infrastructure. In his capacity as COO and Co-CEO, Markus will oversee all operational and business initiatives, steering growth and deepening client engagements. His leadership is set to refine NowCM’s operational framework, utilizing innovative solutions that align with the company’s strategic vision and drive it toward continued success in the dynamic landscape of capital markets. With both Robert and Markus leading the way, NowCM is exceptionally positioned to achieve operational excellence and significantly enhance its presence in the market.

Markus Sauerland’s Vision:

Reflecting on his new role, Markus stated: “I am genuinely excited to join NowCM, the leading platform in the primary capital markets. With my prior experience, I’m ready to help propel this innovative company to new heights. At NowCM, we’re not just active in the market; we’re shaping its future, introducing bold new strategies that will redefine how capital markets operate. Our goal is to challenge the traditional norms and set new standards for success. Alongside NowCM’s talented team, I’m confident we’re well-equipped to not just navigate the future but actively create it. This role represents a tremendous opportunity to impact our industry significantly. Let’s open the floor for discussion: How prepared are we to challenge established financial practices and welcome the transformative approaches NowCM is championing? Together, we are paving the way for a more flexible and inclusive financial landscape.” 

Comments from NowCM CEO and Founder, Robert Koller:

NowCM CEO and Founder, Robert Koller, expressed his enthusiasm about the new appointment, stating: “We are thrilled to have Markus join our team, bringing with him a wealth of operational expertise that complements our dynamic team perfectly. From day one, NowCM has operated under strict regulations, setting us apart from typical start-ups. With Markus’s arrival, we are poised to enter an exciting new phase of growth, scaling our operations to align with those of our major clients while maintaining the agility and drive of an innovative, rapidly evolving company. We are committed to adhering to the highest standards across all areas—cybersecurity, regulatory compliance, product innovation, and team diversity. We feel fortunate to have some of the brightest minds in the industry driving our success.”

About NowCM

NowCM is the leading market infrastructure and issuance provider within the primary debt capital markets. It offers a market-leading, cloud-native data platform for creating, negotiating, and managing debt, along with an end-to-end secure, digital workflow platform. These tools enable all participants in the primary bond markets to collaborate in real-time, fostering an open and cooperative environment.

NowCM facilitate access to primary markets for inaugural and infrequent issuers through its Treasury-as-a-Service (TaaS) facility. This entity is regulated by the CSSF in Luxembourg and operates as a “funding subsidiary” using standardised yet flexible documentation and fully automated digital workflows.

NowCM’s 360-degree suite of services is completed by a multi-lateral trading facility (MTF) that NowCM owns and operates. It stands as the world’s first and only regulated primary marketplace, subject to the supervision of the ACPR and AMF in France. 

Connect with NowCM
Website: www.nowcm.eu
LinkedIn: www.linkedin.com/company/nowcm
X (formerly Twitter): www.twitter.com/NowCM_EU 

Logo: https://mma.prnewswire.com/media/2082541/NowCM_Logo.jpg 

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PB Fintech slips 2% after over 8 million shares change hands via block deal

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PB Fintech witnessed a 2% decline in its stock price, reaching Rs 1,313.65 per share, as approximately 8.4 million shares, equivalent to 1.86% of outstanding shares, were exchanged via block deals on the exchanges. By 9:44 AM, the volume surged to 9 million shares collectively on both exchanges, while PB Fintech’s stock price dipped by 0.56% to Rs 1,333 apiece, contrasting with a 0.22% decline in the S&P BSE Sensex.

Executive Share Sales

On May 16, PB Fintech announced that its Chairman and CEO, Yashish Dahiya, alongside Vice Chairman and Whole-time Director, Alok Bansal, intended to sell partial stakes in the company. Dahiya plans to sell up to 5.4 million equity shares, while Bansal aims to divest up to 2.97 million equity shares. Proceeds from the sale will be allocated primarily towards taxes on current and future ESOP exercises.

Following the sale, Dahiya will retain a 4.83% stake, while Bansal will hold a 1.63% stake in PB Fintech on a fully diluted basis. The company clarified that no further share sales are planned by the duo for at least one year.

Company Profile and Financial Performance

PB Fintech is actively involved in providing integrated online marketing and IT consulting services, primarily for the financial services industry, including insurance. The company operates Policybazaar, India’s largest digital insurance marketplace, and Paisabazaar, which offers lending-related services.

In Q4FY24, PB Fintech reported a net profit of Rs 60.19 crore, marking a significant improvement from the Rs 9.34 crore loss in the corresponding period of the previous year. The company’s revenue from operations surged by 25.4% year-on-year to Rs 1,090 crore in Q4 FY24, compared to Rs 869 crore in Q4 FY23.

For the entire fiscal year, PB Fintech’s net profit stood at Rs 64 crore, contrasting with the Rs 488 crore loss in FY23. The company’s consolidated operating revenue rose by 34% year-on-year to Rs 3,437 crore.

Analyst Perspectives

Analysts at Nuvama Institutional Equities raised their FY25/26 Ebitda estimates significantly to accommodate higher growth and improved profitability. However, they maintained a ‘Reduce’ rating on the stock due to its rich valuation, revising their target price to Rs 1,160.

Keynote Capital downgraded PB Fintech’s stock to ‘Reduce’ from ‘Buy’, citing that most of the positives appear to be priced in. Despite acknowledging the company’s positive momentum and profitability, the brokerage believes that current market expectations may be overly optimistic.

PB Fintech continues to navigate its growth trajectory amidst strategic initiatives and evolving market dynamics, as reflected by varying analyst viewpoints.

Source: business-standard.com

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US fintech Yendo secures $165m in mix of debt financing and equity

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Yendo, a prominent fintech company based in the United States, has successfully secured $165 million in funding through a combination of debt financing and equity investment.

Funding Structure

The funding round comprised a mix of debt financing and equity infusion, highlighting investors’ confidence in Yendo’s growth prospects and business model. This significant financial injection underscores Yendo’s position as a key player in the fintech sector.

Investment Highlights

Yendo’s ability to attract such substantial investment underscores its appeal to investors. The company’s innovative approach and strategic positioning within the fintech landscape have positioned it for accelerated growth and market expansion.

Utilization of Funds

The newly raised capital will likely be deployed to fuel Yendo’s expansion initiatives, including product development, market expansion, and strategic acquisitions. The infusion of funds will provide Yendo with the financial resources needed to capitalize on emerging opportunities and consolidate its market position.

Market Impact

Yendo’s successful funding round is expected to have a positive impact on the broader fintech market, signaling investor confidence in the sector’s growth potential. The influx of capital into Yendo reflects the ongoing trend of significant investment activity within the fintech industry, driven by increasing demand for innovative financial solutions.

Source: fintechfutures.com

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Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub

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Commerce Bank, headquartered in Kansas City, USA, has recently activated the FedNow instant payments service as part of its ongoing modernization efforts.

Collaboration with Temenos

Commerce Bank has partnered with Temenos, a leading Swiss vendor, to enhance its real-time payment capabilities. This collaboration builds upon Commerce Bank’s previous deployment of Temenos’ core banking platform in 2022 and its adoption of the Infinity loan origination solution earlier this year.

Utilization of Temenos Payments Hub

Commerce Bank has opted for the Temenos Payments Hub to integrate the FedNow service seamlessly. According to Temenos, this choice aims to amalgamate advanced banking products with cutting-edge delivery methods.

Insight from David Roller

David Roller, CIO of Commerce Bank, views this selection as a strategic step in their modernization journey. He emphasizes the bank’s commitment to meeting the evolving expectations of its customers by leveraging the capabilities offered by the Temenos platform.

Features of the Platform

The Temenos Payments Hub, delivered via Software-as-a-Service (SaaS), offers a comprehensive suite of payment tools and frameworks. These include features like straight-through processing, automated exception handling, cloud security measures, intelligent routing, and customizable workflows.

Leveraging the US Model Bank

In addition to the Temenos Payments Hub, Commerce Bank has also leveraged Temenos’ US Model Bank. This collection of pre-configured banking processes is tailored to address the specific requirements of the US market, further enhancing Commerce Bank’s operational efficiency and customer service.

Source: fintechfutures.com

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