Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

Former Tesla executive Tim Newell is set to spin off Aspiration’s consumer financial services division.

Published

on

 

Former Tesla executive Tim Newell has struck a deal with climate finance company Aspiration Partners to carve out its consumer financial services division.

Newell will helm the newly formed independent entity, which will retain the Aspiration brand name and focus on providing environmentally sustainable financial products. In a LinkedIn post, Newell announced the completion of a management buyout, positioning the spin-off company to cater to the needs of US consumers seeking climate-friendly financial solutions.

The new venture aims to expand its product offerings beyond sustainable savings, checking, and investment accounts to include lending, investment, banking, credit, and insurance services.

Under Newell’s leadership, Mission Financial Partners, founded in 2023, will serve as the operational backbone for the Aspiration brand. Although Mission Financial Partners operates as a fintech rather than a bank, banking services on the Aspiration platform will be facilitated by Coastal Community Bank.

Notably, the entire management team and staff from Aspiration’s consumer business division have opted to join Newell, forming the core team of the newly established venture.

Explaining the rationale behind the spin-off in a blog post on the company website, Newell highlighted the need for a standalone enterprise to maintain focus on the original consumer-centric mission of Aspiration. As the former COO of Aspiration Partners, Newell noted that the company’s evolution into climate finance for large enterprises brought about competing priorities, necessitating a dedicated entity to cater exclusively to consumer needs.

Source: fintechfutures.com

The post Former Tesla executive Tim Newell is set to spin off Aspiration’s consumer financial services division. appeared first on HIPTHER Alerts.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Globacap hires WealthKernel’s Brian Schwieger as new chairman

Published

on

 

Globacap, a private capital platform, has appointed industry veteran Brian Schwieger as its new chairman.

In his role, Schwieger will play a key part in accelerating Globacap’s scaling journey. Myles Milston, the co-founder and CEO of Globacap, expressed confidence in Schwieger’s appointment, stating, “We felt it was the right time to bring in an external chairman to bolster our board and provide advice and oversight to help drive the business forward.”

Milston further highlighted Schwieger’s extensive experience in capital markets and investment banking, spanning over 30 years. He emphasized that Schwieger’s expertise would be invaluable in preparing Globacap for its next phase of growth.

Prior to joining Globacap, Schwieger held prominent roles at Merrill Lynch, Morgan Stanley, and the London Stock Exchange Group (LSEG), where he served as MD of global head of equities and co-head of ETF and fixed income trading for nearly eight years. He currently serves as the chair of the board and non-executive director of WealthKernel, a UK-based digital investment infrastructure firm.

Founded in 2017, Globacap focuses on automating and digitizing private capital markets globally. The company offers financial institutions a white label Software-as-a-Service (SaaS) solution aimed at bringing public markets-like efficiency to private markets.

Source: fintechfutures.com

 

The post Globacap hires WealthKernel’s Brian Schwieger as new chairman appeared first on HIPTHER Alerts.

Continue Reading

Latest News

QuantPower Emerges as Best Trading Platform in India, Wisdom Tree Ventures Tops Fintech Company of the Year 2024

Published

on

 

In a remarkable achievement, QuantPower, the most innovative AI-enabled trading platform, has secured the prestigious title of Best Trading Platform in India for the second consecutive year. This milestone reaffirms QuantPower’s position as the preferred software for Indian investors, offering an unparalleled suite of features that consolidate various trading tools into one comprehensive solution.

Under the umbrella of Wisdom Tree Ventures Pvt. Ltd., QuantPower.tech has revolutionized the trading landscape by providing a unified platform that caters to diverse trading styles. By seamlessly integrating advanced features such as Strategy Builder, Algo Bots, and Backtesting for algorithmic traders, alongside Advanced Charting, Trading from Charts, and Chart Alerts for manual traders, QuantPower empowers investors to make informed decisions with confidence.

Deb Mukherjee, the Group CEO of Wisdom Group, also celebrated the recognition of Wisdom Tree Ventures as the Top Fintech Company of the Year 2024 by Entrepreneur India. This dual triumph underscores Wisdom Tree Ventures’ commitment to innovation and excellence in the fintech sector.

Reflecting on the achievement, Mukherjee emphasized the importance of providing a platform that caters to all trading styles, from algorithmic to manual, while navigating the dynamic regulatory landscape. He highlighted the company’s focus on sustainable profitability, revenue diversification, and cost optimization strategies, which have been instrumental in brand building and delivering value to customers and stakeholders.

QuantPower’s comprehensive suite of features goes beyond basic trading functionalities, offering insights into options contracts, futures markets, and real-time market data. With customizable alerts, MTM Stop Loss/Target, Position Tab, and Order Book, QuantPower ensures a seamless trading experience, enabling investors to optimize their portfolios with ease. It also supports all the major brokers and traders dont need to switch between broker and platform as it provides everything from orderbook, position tab, portfolio section as a one stop solution provider. This highly agile software is available in web, android and IOS app respectively.

As the fintech landscape continues to evolve, WisdomTreeVentures.com remains committed to driving innovation, financial inclusion, and sustainability. Mukherjee envisions a future where AI technology plays a significant role in enhancing efficiency and decision-making capabilities, further cementing QuantPower’s position as the leading trading platform in India.

The post QuantPower Emerges as Best Trading Platform in India, Wisdom Tree Ventures Tops Fintech Company of the Year 2024 appeared first on HIPTHER Alerts.

Continue Reading

Latest News

Engro Officials Declared Innocent in Pakistan LNG Case

Published

on

LAHORE, Pakistan, May 7, 2024 /PRNewswire/ — In a final verdict, made yesterday (6 May 2024), Pakistan’s Accountability Court exonerated and acquitted some of the country’s highest officials and corporate leaders in a widely-publicised lawsuit, including Engro Chairman, Hussain Dawood; Engro Director, Abdul Samad Dawood; and former Engro CEO, Sheikh Imran ul Haq; among others. No evidence was found to prove any illegality, irregularity, or loss to Pakistan’s national exchequer.

Initiated by Pakistan’s NAB (National Accountability Bureau), the case pertained to the LNG Terminal contract award to Engro, an industrial conglomerate, in 2014. It was alleged by NAB that a non-transparent process had been followed in the award of the contract; however, in a case lasting six years, no evidence of corruption was found, and the case was ultimately dropped, exonerating all those implicated. In the final verdict, the NAB and the organisation’s Chairman both independently reached the conclusion that “no irregularity, illegal gain or loss to the national exchequer was caused.”

A spokesperson for Engro Corporation said: “Engro Corporation welcomes this much awaited decision of the Accountability Court. Engro has always strived to act in a fair and transparent manner in all its business and commercial commitments. Over the last six decades, the company has built its reputation through a strong focus on effective corporate governance, ethics and integrity, and compliance with the laws of the land in every country in which we operate.

“Engro remains committed to the progress of Pakistan by striving to solve some of the country’s most pressing issues. We hope that this verdict will restore much needed investor confidence in Pakistan’s private sector and legal system.

“During these testing times, the Company is grateful for the support it has received from our employees, shareholders, and partners who have believed in and worked with us.”

The Engro Elengy Terminal, the fastest terminal set-up in the world, has been an essential part of Pakistan’s energy infrastructure since 2015, when the country faced severe energy shortages. It supplies 15% of Pakistan’s total gas to the nation’s homes and businesses. Since inception, it has enabled Pakistan to save more than USD 3 billion through import substitution of furnace oil.

www.engro.com

View original content:https://www.prnewswire.co.uk/news-releases/engro-officials-declared-innocent-in-pakistan-lng-case-302138702.html

Continue Reading
Advertisement
Advertisement

Latest news

Trending