April 18, 2021

Finance

Brexit Led Over 440 Finance Firms to Shift Some Business to EU

Photographer: Simon Dawson/Bloomberg

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The U.K.’s departure from the European Union pushed more than 440 financial firms to move at least some of their operations, staff, assets or legal entities from Britain to the bloc.

That includes 126 asset management firms, 81 banks and 65 insurers, according to a report published Friday by New Financial, a London-based think tank.

Sector

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Huntington Park finance employee arrested in data breach probe

Almost the entire roster of Huntington Park’s Finance Department was placed on administrative leave and one staffer was arrested as part of an investigation into a records breach that has sparked competing claims of wrongdoing by city employees.

A statement issued by the city Wednesday said officials became aware of a “large-scale security breach of electronic financial records at Huntington Park City Hall” that was “intercepted and contained” by the city’s information technology division. The Huntington Park Police Department initiated a criminal investigation, according to the statement.

For the record:

7:32 PM, Apr. 14, 2021A previous version of this

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Climate scientists swap fieldwork for finance

Environmental scientist Laura Garcia Velez cut her teeth on projects to help Ethiopian farmers insure crops for drought and connect remote Colombian communities to the electricity grid before working for conservation campaigners WWF.

Now she’s an analyst for Lombard Odier, charged with improving the $350 billion Swiss bank’s green credentials.

“It’s really important that finance recruits from science,” said Velez, one of a growing number of campaigners and scientists who have switched to banking, which she hopes can play a role in “greening the polluting industries”.

Activism and finance may seem an unlikely pairing of two implacable foes.

Yet banks,

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Here Are the Top Finance Stories of the Day for April 16

Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:

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Like the newsletter? Hate the newsletter? Feel free to drop me a line at [email protected] or on Twitter @DanDeFrancesco


From 100-hour weeks to deteriorating mental health, nearly 500 employees at top investment banks reveal the extent of burnout among junior talent in a new survey

woman stressed laptop

A woman on her laptop appears to be stressed during the coronavirus

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How Morgan Stanley’s Seema Hingorani Would Recruit More Women to Finance

Seema Hingorani has been on a mission to solve a problem that became glaringly clear while she was chief investment officer of the New York City’s retirement systems: A dearth of women on the investment teams of the money managers vying for the city’s business.

Asset managers decried a pipeline problem, while women on college campuses knew little of the industry—or worse, had a negative view of it. Hingorani, who began her career as a T. Rowe Price analyst, set out to fix the problem, founding Girls Who Invest in 2015. The nonprofit built a 10-week summer program that teaches … Read More

Leading With DE&I In The Finance Function

Motivated to meet environmental, social, and governance (ESG) goals, as well as ethical principles, finance and accounting professionals are looking more critically at diversity, equity and inclusion (DE&I) within their organizations. They are asking questions about issues like social justice and equity, and thinking critically about who gets a seat at the leadership table and who does not.   

I recently spoke with Okorie Ramsey, Vice President of Sarbanes/Oxley at major health care consortium Kaiser Permanente. I discussed many issues with Okorie, all of them related to the theme

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