• Acquisition supports regional growth in Australia and New Zealand 
• Portfolio expansion in the core sectors of IT, industrial equipment, and healthcare technology with a value of around AUD$500 million (€300 million)
• Acquisition completed on June 28th, 2024

SYDNEY, July 2, 2024 /PRNewswire/ — Global technology2use company CHG-MERIDIAN continues its strong growth path in Australia and New Zealand (ANZ) with the acquisition of Maia Financial Pty Limited’s (Maia Financial) asset portfolio on June 28th, 2024. The acquired portfolio consists of leased IT, healthcare and industrial equipment. The acquisition bolsters CHG-MERIDIAN’s technology portfolio and expands its market presence in the ANZ region.

The CHG-MERIDIAN Group is a leading global technology2use company. It has more than 1,400 employees in 30 countries across five continents, and develops, finances, and manages tailored technology usage models for the IT, industrial, and healthcare sectors. Its services are available in up to 190 countries through its subsidiaries, partner networks, and affiliated companies.

The Group has been active in the Australian market since 2018 when it acquired Equigroup, a regional technology finance company previously owned by the Commonwealth Bank of Australia. The CHG-MERIDIAN brand was later launched in 2019. After operating both brands in the region for five years, the Group made the strategic decision to rebrand Equigroup to CHG-MERIDIAN in 2024, becoming more customer-centric and unlocking operational efficiencies.

“We are meeting the needs of our customers with our presence in the regional markets,” says Mathias Wagner, CEO of CHG-MERIDIAN. “The acquisition of Maia Financials’ portfolio offers us an attractive opportunity to further strengthen the positioning of our technology2use solutions on-site.”

Even greater expertise in the healthcare sector

Founded in 1989, Maia Financial is a Sydney-based asset finance company owned by two global investment firms. The portfolio consists of around 500 customers, about half of whom belong to the healthcare sector. The managed assets in the portfolio have a value of approximately AUD$500 million (€300 million). This will position CHG-MERIDIAN as one of the leading healthcare financiers across Australia and New Zealand.

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“The acquisition represents an investment in the CHG-MERIDIAN brand and our commitment to the ANZ market. It enables us to expand our presence and expertise, particularly in the local healthcare sector. We look forward to meeting and supporting our new customers with their technology needs and exploring new business opportunities thanks to our Group’s range of innovative solutions,” says Lukas Tränkle, Executive Vice President with responsibility for Australia and New Zealand.

CHG-MERIDIAN offers its customers 45 years of experience in technology management and financing. The Company is not tied to any specific banks or manufacturers, and manages its customers’ technology investments along the entire lifecycle, from procurement and use to data erasure, refurbishing, and remarketing of used devices at its modern technology centers.

The CHG-MERIDIAN Group

The CHG-MERIDIAN Group is a leading global technology2use company in the IT, industrial, and healthcare sectors. It has more than 1,400 employees worldwide and develops, finances, and manages customized technology solutions based on the principle of usage over ownership. This gives customers including large corporations, SMEs, public authorities, and hospitals access to the latest technologies, cost-effective financing models, and tailored services that meet individual needs. CHG-MERIDIAN currently manages a technology portfolio worth €10 billion (2023) and has a presence in 30 countries on five continents without being tied to any specific banks or manufacturers. Its services are available in up to 190 countries through its subsidiaries, partner networks and affiliated companies.

The sustainability-based principles of the circular economy lie at the heart of CHG-MERIDIAN’s business model. The Company has been continually expanding its expertise in this area since it was founded 45 years ago in 1979. CHG-MERIDIAN manages its customers’ technology assets along the entire lifecycle, from procurement and use to data erasure, refurbishing, and remarketing of used devices at its modern technology centers. The Company’s headquarters are in Weingarten, Germany.

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www.chg-meridian.com

Your contact:
Jessica Behrens
Company spokesperson
Franz-Beer-Strasse 111
88250 Weingarten
Germany
Phone: +49 (0)751 503 203
Mobile: +49 (0)175 341 9179
[email protected] 

View original content:https://www.prnewswire.co.uk/news-releases/chg-meridian-acquires-asset-portfolio-of-australian-company-maia-financial-pty-limited-302188004.html

On June 14, the Federal Reserve Board (Fed) issued a cease and desist order against an Arkansas-based banking-as-a-service (BaaS) provider due to significant compliance and risk management failures.

The order restricts the bank from, without prior approval: (i) establishing new fintech partners, subsidiaries, business lines, products, programs, services, or program managers, and (ii) offering new products, programs, or services to existing fintech partners, program managers, or subsidiaries.

The Fed’s examination in August 2023 identified risk management deficiencies, and a follow-up review in January 2024 found further non-compliance with anti-money laundering (AML), Bank Secrecy Act (BSA), and Office of Foreign Asset Control (OFAC) requirements. Additionally, the Fed noted deficiencies in the bank’s management of consumer compliance risks.

The order mandates the bank to implement several corrective measures, including:

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1. Board Oversight Plan: The board of directors must develop a plan to enhance its oversight of the bank’s management, operations, and compliance with BSA/AML and OFAC regulations.
2. Risk Management Enhancement: The bank must submit a plan to improve its risk management practices. This plan should include:
   • Written policies and procedures to identify and manage risks associated with fintech partners.
   • Steps to ensure staff are adequately trained, possess sufficient expertise, and maintain independence in managing fintech partnerships.
   • A process to swiftly identify and report risk exposures related to its fintech partner program.
3. Independent Audit: An independent third party must be hired to audit and review the bank’s fintech partner program for compliance with consumer laws and regulations.
4. Capital Risk Management: The bank must develop a plan to improve its capital risk management in light of its fintech partner program and assess the adequacy of its capital. It must also devise a plan to enhance its liquidity risk management.
5. BSA/AML Program Improvement: The bank must improve its processes and controls related to its BSA/AML program.
6. Lending and Credit Risk Management: Enhancements must be made to the bank’s lending and credit risk management practices concerning its fintech partner program.

Putting It Into Practice

This order places the bank among a growing number of BaaS providers required to enhance oversight of their fintech partnerships. Similar orders in the past underscore federal regulators’ concerns that banks often lack adequate oversight over their fintech partners, leading to unsafe and unsound banking practices. This latest order emphasizes the necessity for banks to reassess their fintech partnerships and risk management practices in accordance with prudential regulators’ final interagency guidance to ensure compliance and mitigate risk.

Source: natlawreview.com

The post Federal Reserve Board Issues Cease and Desist Order Against Banking-As-A-Service Provider appeared first on HIPTHER Alerts.

Conference call scheduled for the same day at 10:00 a.m. ET

NEW YORK, July 2, 2024 /PRNewswire/ — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, today announced the details of its second quarter 2024 financial results press release and conference call. The Company plans to issue an advisory press release regarding the availability of its consolidated quarterly financial results at 8:00 a.m. ET on Friday, August 2, 2024. Newmark’s advisory release will notify the public that a full-text financial results press release will be accessible at the following pages:

http://ir.nmrk.com (PDF version of the full press release, PDF of a quarterly results investor presentation, link to the webcast, and supplemental Excel financial tables)

https://www.nmrk.com/media (PDF version of the full press release only)

Newmark will host a conference call on Friday, August 2, 2024, at 10:00 a.m. ET to discuss its results.

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WHO:	Newmark Group, Inc. (Nasdaq: NMRK)
WHAT:	Second Quarter 2024 financial results conference call
WHEN: Advertisement	Friday, August 2, 2024, at 10:00 a.m. ET
WHERE:	https://event.webcasts.com/starthere.jsp?ei=1677990&tp_key=fe28e640b6

For those who are unable to join the webcast, the Company expects to post dial-in information before the day of the call on the event’s page at http://ir.nmrk.com. 

Webcast Replay

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Note: If clicking the above links does not open a new webpage, you may need to cut and paste the URLs into your browser’s address bar.

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ABOUT NEWMARK
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of that same date, Newmark’s company-owned offices, together with its business partners, operated from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT NEWMARK
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

Logo – https://mma.prnewswire.com/media/1057994/Newmark_Group_Inc_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/newmark-groups-second-quarter-2024-financial-results-announcement-to-be-issued-prior-to-market-open-on-friday-august-2-2024-302188264.html