The numbers: U.S. new home sales rose 5.8% to a seasonally-adjusted rate of 640,000 in November, from a revised 605,000 in the prior month, the Commerce Department reported Friday.
The November sales figure beat analyst estimates. Analysts polled by the Wall Street Journal had forecast new home sales to come in at 600,000 in November.
The sales of new homes are below a peak of 1.04 million in August 2020.
Year-over-year, new home sales are still down by 15.3%.
New home sales rose a revised 8.2% to 605,000 in October, compared with the initial estimate of a 7.5% increase to 632,000.
The new home sales data are volatile month-on-month and are often revised.
Key details: The median sales price of a new home sold in November was $471,200, down from $484,700 in October.
The supply of new homes for sale fell by 7.5% between October and November, equating to an 8.6-month supply.
Regionally, the West led the U.S. in the number of new homes sold, with new homes sold surging by 27.6%, followed by the Midwest.
Sales of new homes dropped in the Northeast and the South this November.
Big picture: 7% mortgage rates didn’t put a damper on new home sales, as seen in today’s report.
New home sales jumped in November, likely as buyers wanted to take advantage of incentives that builders are offering, from mortgage rate buydowns to price cuts.
But with rates coming back down since, expect housing data to improve further.
What are they saying? “I suspect that builders are much more motivated sellers (especially given the surge in financing costs) than current homeowners, who do not want to part with their 3% or lower mortgages,” Stephen Stanley, chief economist at Amherst Pierpont, wrote in a note. “This may explain why new home sales are rising while existing home sales plunge. ”
But overall, sales are still weaker than usual: Stanley noted that combined existing and new home sales in November fell to the lowest level since 2011.
Market reaction: The Dow Jones Industrial Average DJIA, +0.53%
and the S&P 500 SPX, +0.59%
were down in early trading on Friday. The yield on the 10-year Treasury note TMUBMUSD10Y, 3.749%
rose above 3.7%.
Shares of builders, including D.R. Horton, Inc. DHI, -1.29%,
Lennar Corp LEN, -0.46%,
PulteGroup Inc. PHM, -0.52%,
and Toll Brothers Inc. TOL, -0.33%
traded lower during morning trading.
J.P. Morgan Asset Management and cash management fintech Trovata are collaborating to offer access to higher yields on corporate investments amid rising interest rates and economic uncertainty through its Morgan Money platform, a multicurrency, trading and risk management system that launched in 2019. The collaboration will combine J.P. Morgan’s investment capabilities with Trovata’s ability to […]
Demand for core provider Temenos’ services remains strong amid a focus on digital transformation among banks. The $36.4 billion Bank of Queensland, based in Queensland, Australia, in Q3 selected Temenos’ cloud-based platform for its retail banking business, a spokesperson for Temenos told Bank Automation News. The Geneva-based tech provider’s other Q3 bank contracts include: $67 […]
London-based core provider Finastra is partnering with payment service fintech Veem to provide payment services to small and medium-sized businesses (SMBs). San Francisco-based Veem’s payment service will be integrated into Finastra’s Fusion Digital Banking Platform and will give users a centralized platform for SMBs, Peter Longo, senior director of product management at Finastra, told Bank […]
Following a sharp and sustained rise in interest rates, U.S. stocks have taken a broad beating this year.
But 2023 may bring very different circumstances.
Below are lists of analysts’ favorite stocks among the benchmark S&P 500 SPX,
the S&P 400 Mid Cap Index MID
and the S&P Small Cap 600 Index SML
that are expected to rise the most over the next year. Those lists are followed by a summary of opinions of all 30 stocks in the Dow Jones Industrial Average DJIA.
Stocks rallied on Dec. 13 when the November CPI report showed a much slower inflation pace than economists had expected. Investors were also anticipating the Federal Open Market Committee’s next monetary policy announcement on Dec. 14. The consensus among economists polled by FactSet is for the Federal Reserve to raise the federal funds rate by 0.50% to a target range of 4.50% to 4.75%.
A 0.50% increase would be a slowdown from the four previous increases of 0.75%. The rate began 2022 in a range of zero to 0.25%, where it had sat since March 2020.
A pivot for the Fed Reserve and the possibility that the federal funds rate will reach its “terminal” rate (the highest for this cycle) in the near term could set the stage for a broad rally for stocks in 2023.
Wall Street’s large-cap favorites
Among the S&P 500, 92 stocks are rated “buy” or the equivalent by at least 75% of analysts working for brokerage firms. That number itself is interesting — at the end of 2021, 93 of the S&P 500 had this distinction. Meanwhile, the S&P 500 has declined 16% in 2022, with all sectors down except for energy, which has risen 53%, and the utilities sector, which his risen 1% (both excluding dividends).
Here are the 20 stocks in the S&P 500 with at least 75% “buy” or equivalent ratings that analysts expect to rise the most over the next year, based on consensus price targets:
Most of the companies on the S&P 500 list expected to soar in 2023 have seen large declines in 2022. But the company at the top of the list, EQT Corp. EQT,
is an exception. The stock has risen 69% in 2022 and is expected to add another 62% over the next 12 months. Analysts expect the company’s earnings per share to double during 2023 (in part from its expected acquisition of THQ), after nearly a four-fold EPS increase in 2022.
Shares of Amazon.com Inc. AMZN
are expected to soar 50% over the next year, following a decline of 46% so far in 2022. If the shares were to rise 50% from here to the price target of $136.02, they would still be 18% below their closing price of 166.72 at the end of 2021.
You can see the earnings estimates and more for any stock in this article by clicking on its ticker.
Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.
Mid-cap stocks expected to rise the most
The lists of favored stocks are limited to those covered by at least five analysts polled by FactSet.
Among components of the S&P 400 Mid Cap Index, there are 84 stocks with at least 75% “buy” ratings. Here at the 20 expected to rise the most over the next year:
Among companies in the S&P Small Cap 600 Index, 91 are rated “buy” or the equivalent by at least 75% of analysts. Here are the 20 with the highest 12-month upside potential indicated by consensus price targets:
Bank Automation News is pleased to announce the launch of our new Transactions Database, a list of technologies selected or acquired by companies in the financial services industry.
The Transactions Database, which is updated weekly, allows financial services executives to follow which technologies banks are selecting to enhance their automation efforts.
The database allows users to search and filter by various criteria, including asset size, vendor, solution name, solutions type and cloud capabilities.
To begin exploring the industry’s latest transactions, click here. To submit new transactions to be listed on the Transactions Database, click here.
U.S. Bank recently announced its acquisition of New York City-based MUFG Union Bank in an $8 billion deal. The deal was originally announced in September 2021, with the $591 billion bank acquiring Union Bank from Mitsubishi UFJ Financial Group, according to a release from U.S. Bank. System integrations and account conversions are expected to […]
NEW YORK — Donald Trump’s company was convicted of tax fraud on Tuesday in a case brought by the Manhattan District Attorney, a significant repudiation of financial practices at the former president’s business.
A jury found two corporate entities at the Trump Organization guilty on all 17 counts, including conspiracy charges and falsifying business records.
The verdict came on the second day of deliberations following a trial in which the Trump Organization was accused of being complicit in a scheme by top executives to avoid paying personal income taxes on job perks such as rent-free apartments and luxury cars.
The conviction is a validation for New York prosecutors, who have spent three years investigating the former president and his businesses, though the penalties aren’t expected to be severe enough to jeopardize the future of Trump’s company.
As punishment, the Trump Organization could be fined up to $1.6 million — a relatively small amount for a company of its size, though the conviction might make some of its future deals more complicated.
Trump, who recently announced he was running for president again, has said the case against his company was part of a politically motivated “witch hunt” waged against him by vindictive Democrats.
Trump himself was not on trial but prosecutors alleged he “knew exactly what was going on” with the scheme, though he and the company’s lawyers have denied that.
The case against the company was built largely around testimony from the Trump Organization’s former finance chief, Allen Weisselberg, who previously pleaded guilty to charges that he manipulated the company’s books and his own compensation package to illegally reduce his taxes.
Weisselberg testified in exchange for a promised five-month jail sentence.
To convict the Trump Organization, prosecutors had to convince jurors that Weisselberg or his subordinate, Senior Vice President and Controller Jeffrey McConney, were “high managerial” agents acting on the company’s behalf and that the company also benefited from his scheme.
Trump Organization lawyers repeated the mantra “Weisselberg did it for Weisselberg” throughout the monthlong trial. They contended the executive had gone rogue and betrayed the company’s trust. No one in the Trump family or the company was to blame, they argued.
Though he testified as a prosecution witness, Weisselberg also attempted to take responsibility on the witness stand, saying nobody in the Trump family knew what he was doing.
“It was my own personal greed that led to this,” an emotional Weisselberg testified.
Weisselberg, who pleaded guilty to dodging taxes on $1.7 million in fringe benefits, testified that he and McConney conspired to hide that extra compensation from his income by deducting their cost from his pre-tax salary and issuing falsified W-2 forms.
During his closing argument, prosecutor Joshua Steinglass attempted to refute the claim that Trump knew nothing about the scheme. He showed jurors a lease Trump signed for Weisselberg’s company-paid apartment and a memo Trump initialed authorizing a pay cut for another executive who got perks.
“Mr. Trump is explicitly sanctioning tax fraud,” Steinglass argued.
The verdict doesn’t end Trump’s battle with Manhattan District Attorney Alvin Bragg, a Democrat who took office in January.
Bragg has said that a related investigation of Trump that began under his predecessor, District Attorney Cyrus Vance Jr., is “active and ongoing.”
In that wide-ranging probe, investigators have examined whether Trump misled banks and others about the value of his real estate holdings, golf courses and other assets — allegations at the heart of New York Attorney General Letitia James’ pending lawsuit against the former president and his company.
The district attorney’s office has also investigated whether any state laws were broken when Trump’s allies made payments to two women who claimed to have had sexual affairs with the Republican years ago.
Near the end of his tenure last year, Vance directed deputies to present evidence to a grand jury for a possible indictment of Trump. After taking office, though, Bragg let that grand jury disband so he could give the case a fresh look.
On Monday, he confirmed that a new lead prosecutor had been brought on to handle that investigation, signaling again that it was still active.
The S&P 500 and Nasdaq Composite indexes recorded their worst day in almost a month on Monday,after a hotter-than-expected U.S. services-sector reading fueled concerns that the Federal Reserve may need to be even more aggressive in its inflation battle.
How stocks traded
The Dow Jones Industrial Average DJIA, -0.26%
finished down 482.78 points, or 1.4%, at 33,947.10.
The S&P 500 SPX, -1.79%
ended 72.86 points lower, or 1.8%, at 3,998.84.
The Nasdaq Composite COMP, -11.01% closed down 221.56 points, or 1.9%, at 11,239.94.
Those were the largest declines for the S&P 500 and Nasdaq Composite since Nov. 9, according to Dow Jones Market Data.
Strong wage growth numbers released Friday were followed up on Monday by a robust reading for the U.S. services sector — both of which helped to stoke fears that the Fed’s interest-rate hikes, along with the central bank’s modest balance-sheet unwind, haven’t had much of an impact on the tight labor market.
“If nothing else, the ISM services report is being interpreted as very strong, and thus the economy is overheating and that means more Fed tightening,” said Will Compernolle, a senior economist at FHN Financial in New York. “Consumer resilience has proven to be more intense than I would have expected. In the two most interest-rate sensitive sectors — housing and autos — tightening has channeled into markets in meaningful ways.”
But there has been so much pent-up demand, that higher interest rates haven’t been cooling overall spending as much as the Fed would like because companies are still having to fill a backlog of orders, he said via phone.
In other economic data, the final November S&P Global U.S. services PMI edged up to 46.2 from 46.1, but remained in contractionary territory.
November jobs data released on Friday showed average hourly wages grew over the past year by more than 5% as of November, beating economists’ expectations and stoking concerns that robust wage growth would continue to fuel inflation, market strategists said.
Worries about a more-aggressive Fed also helped to drive Treasury yields higher, adding to the pressure on stocks. The yield on the 10-year note rose 9.6 basis points to 3.6% on Monday. Treasury yields move inversely to prices, and yields had fallen sharply over the past month, driven by shifting expectations about the pace of Fed rate hikes.
Monday’s ISM services figure “surprised to the upside, suggesting that the economy is still running above its long-run sustainable path and that the Fed is going to have to slow the economy more than expected in 2023,” Bill Adams, the Dallas-based chief economist for Comerica Inc. CMA, said via phone.
Meanwhile, oil futures ended lower on Monday, a day after Sunday’s decision by OPEC and its allies to keep production quotas unchanged.
Falling equity prices helped drive the CBOE Volatility Index VIX, +8.87%,
also known as the VIX, back above 20 on Monday. The volatility gauge had fallen sharply in recent weeks as stocks rallied, potentially signaling complacency that could ultimately hurt stocks, said Jonathan Krinsky, chief market technician at BTIG, in a note to clients.
GameStop Corp.‘s Class A shares GME, -7.12%
ended down by 7.1% ahead of the company’s third-quarter results, which are set to be released after the market closes on Wednesday. Analysts are looking for a narrowing loss from the videogame retailer.
Shares of U.S. airlines and aircraft makers traded higher on Monday, bucking the broader trend in stocks. Boeing Co. BA, +1.22%
and United Airlines Holdings Inc. UAL, +2.60%
were among the best performers in the S&P 500, finishing up by 1.2% and 2.6%, respectively.
Salesforce Inc. performed better than expected in the third quarter, but executives issued a fourth-quarter forecast that fell short of expectations on Wednesday and revealed that co-Chief Executive Bret Taylor is leaving the company.
Salesforce CRM, +5.65%
shares fell about 7% after hours, after rising about 5.5% in the regular session to close at $159.97, their fifth gain in the past six sessions.
The cloud-software company said in a news release that founder, co-CEO and Chairman Marc Benioff will resume the sole CEO role on Jan. 31. Taylor is the second executive to be elevated to co-CEO with Benioff, only to leave with Benioff still in charge. Keith Block stepped down in February 2020 after just 18 months in the position, and Taylor lasted exactly a year in the co-CEO position after being promoted Nov. 30 of last year.
“I am grateful for six fantastic years at Salesforce,” Taylor, who was also vice chairman, said in a statement. “Marc was my mentor well before I joined Salesforce and the opportunity to partner with him to lead the most important software company in the world is career-defining. After a lot of reflection, I’ve decided to return to my entrepreneurial roots.”
On the company’s earnings call, Benioff said “we’re still in a little bit of shock and extremely sad” about Taylor’s exit, but did not answer an analyst’s question about whether he would fill the co-CEO position.
At least one analyst said he didn’t see the departure coming: “Given that Mr. Taylor was assumed to be the ‘heir apparent’ at CRM, this does bring up a lot of questions in terms of the management team and frankly offsets some of the positive narrative around margins heading into [calendar year 2023],” wrote Kirk Materne, analyst for Evercore ISI, in a note Wednesday.
Salesforce reported that third-quarter net income fell to $210 million, or 21 cents a share, compared with $468 million, or 47 cents a share, in the year-ago period. Adjusted for stock-based compensation and other costs, earnings were $1.40 a share. Revenue rose to $7.84 billion from $6.86 billion in the year-ago quarter.
“We remain positive on the long-term outlook for Salesforce as front-office applications leader,” Michael Turits, analyst for KeyBanc Capital Markets, wrote ahead of the company’s earnings report. “That said, we remain cautious regarding the near-term outlook given ongoing recession concerns, slowing cloud spend, and weaker conversations we had with a few Salesforce channels this quarter.”
Those concerns sprung up in the company’s forecast, as Salesforce executives’ guidance fell $900 million short of expectations. They expect fourth-quarter earnings of 23 cents to 25 cents a share on revenue in the range of $7.932 billion to $8.032 billion, and adjusted earnings of $1.35 to $1.37 a share. Analysts had forecast adjusted earnings of $1.44 a share on revenue of $8.94 billion.
Chief Financial Officer Amy Weaver said on the earnings call that along with the “unpredictable” macroeconomic environment and some slowing in customer spending, the strong dollar had an impact on the company’s showing. “Foreign exchange continued to be a headwind for our results,” she said.
Still, Weaver said the company remains committed to a goal of operating margins of 25% or above; in the third quarter it was at 22.7%, which she said was a record high. Among the things the company is doing, she said, is taking a measured approach to hiring. Earlier this month, the company confirmed hundreds of layoffs, though it did not address them during the call.
In response to an analyst’s question about employees working from home and the company’s real-estate footprint, Benioff said the San Francisco-based company will have more employees in the office while maintaining the flexibility of remote work. “We’re never going back to how it was, we all know that,” he said. Meanwhile, Weaver said the company is “looking at every aspect of our real estate .”
Shares of Salesforce have declined about 37% this year. The Dow Jones Industrial Average DJIA, +2.18%,
whose 30 components include Salesforce, has fallen about 5% year to date, while the S&P 500 index SPX, +3.09%
is down almost 15% this year.
Santander U.K. selected NCR Corporations’ NCR ATM-as-a-Service technology to run its ATM network to manage the bank’s network of more than 1,700 ATMs across the U.K. The service allows the bank to pass its operational management including the software, transaction processes, cash management and ATM monitoring needs, according to an NCR release. “Moving to NCR […]
Income-seeking investors are looking at an opportunity to scoop up shares of real estate investment trusts. Stocks in that asset class have become more attractive as prices have fallen and cash flow is improving.
Below is a broad screen of REITs that have high dividend yields and are also expected to generate enough excess cash in 2023 to enable increases in dividend payouts.
REIT prices may turn a corner in 2023
REITs distribute most of their income to shareholders to maintain their tax-advantaged status. But the group is cyclical, with pressure on share prices when interest rates rise, as they have this year at an unprecedented scale. A slowing growth rate for the group may have also placed a drag on the stocks.
And now, with talk that the Federal Reserve may begin to temper its cycle of interest-rate increases, we may be nearing the time when REIT prices rise in anticipation of an eventual decline in interest rates. The market always looks ahead, which means long-term investors who have been waiting on the sidelines to buy higher-yielding income-oriented investments may have to make a move soon.
During an interview on Nov 28, James Bullard, president of the Federal Reserve Bank of St. Louis and a member of the Federal Open Market Committee, discussed the central bank’s cycle of interest-rate increases meant to reduce inflation.
When asked about the potential timing of the Fed’s “terminal rate” (the peak federal funds rate for this cycle), Bullard said: “Generally speaking, I have advocated that sooner is better, that you do want to get to the right level of the policy rate for the current data and the current situation.”
Fed’s Bullard says in MarketWatch interview that markets are underpricing the chance of still-higher rates
In August we published this guide to investing in REITs for income. Since the data for that article was pulled on Aug. 24, the S&P 500 SPX, -0.29%
has declined 4% (despite a 10% rally from its 2022 closing low on Oct. 12), but the benchmark index’s real estate sector has declined 13%.
REITs can be placed broadly into two categories. Mortgage REITs lend money to commercial or residential borrowers and/or invest in mortgage-backed securities, while equity REITs own property and lease it out.
The pressure on share prices can be greater for mortgage REITs, because the mortgage-lending business slows as interest rates rise. In this article we are focusing on equity REITs.
Industry numbers
The National Association of Real Estate Investment Trusts (Nareit) reported that third-quarter funds from operations (FFO) for U.S.-listed equity REITs were up 14% from a year earlier. To put that number in context, the year-over-year growth rate of quarterly FFO has been slowing — it was 35% a year ago. And the third-quarter FFO increase compares to a 23% increase in earnings per share for the S&P 500 from a year earlier, according to FactSet.
The NAREIT report breaks out numbers for 12 categories of equity REITs, and there is great variance in the growth numbers, as you can see here.
FFO is a non-GAAP measure that is commonly used to gauge REITs’ capacity for paying dividends. It adds amortization and depreciation (noncash items) back to earnings, while excluding gains on the sale of property. Adjusted funds from operations (AFFO) goes further, netting out expected capital expenditures to maintain the quality of property investments.
The slowing FFO growth numbers point to the importance of looking at REITs individually, to see if expected cash flow is sufficient to cover dividend payments.
Screen of high-yielding equity REITs
For 2022 through Nov. 28, the S&P 500 has declined 17%, while the real estate sector has fallen 27%, excluding dividends.
Over the very long term, through interest-rate cycles and the liquidity-driven bull market that ended this year, equity REITs have fared well, with an average annual return of 9.3% for 20 years, compared to an average return of 9.6% for the S&P 500, both with dividends reinvested, according to FactSet.
This performance might surprise some investors, when considering the REITs’ income focus and the S&P 500’s heavy weighting for rapidly growing technology companies.
For a broad screen of equity REITs, we began with the Russell 3000 Index RUA, -0.04%,
which represents 98% of U.S. companies by market capitalization.
We then narrowed the list to 119 equity REITs that are followed by at least five analysts covered by FactSet for which AFFO estimates are available.
If we divide the expected 2023 AFFO by the current share price, we have an estimated AFFO yield, which can be compared with the current dividend yield to see if there is expected “headroom” for dividend increases.
For example, if we look at Vornado Realty Trust VNO, +1.03%,
the current dividend yield is 8.56%. Based on the consensus 2023 AFFO estimate among analysts polled by FactSet, the expected AFFO yield is only 7.25%. This doesn’t mean that Vornado will cut its dividend and it doesn’t even mean the company won’t raise its payout next year. But it might make it less likely to do so.
Among the 119 equity REITs, 104 have expected 2023 AFFO headroom of at least 1.00%.
Here are the 20 equity REITs from our screen with the highest current dividend yields that have at least 1% expected AFFO headroom:
Click on the tickers for more about each company. You should read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
The list includes each REIT’s main property investment type. However, many REITs are highly diversified. The simplified categories on the table may not cover all of their investment properties.
Knowing what a REIT invests in is part of the research you should do on your own before buying any individual stock. For arbitrary examples, some investors may wish to steer clear of exposure to certain areas of retail or hotels, or they may favor health-care properties.
Largest REITs
Several of the REITs that passed the screen have relatively small market capitalizations. You might be curious to see how the most widely held REITs fared in the screen. So here’s another list of the 20 largest U.S. REITs among the 119 that passed the first cut, sorted by market cap as of Nov. 28:
American Express and digital payment platform Square are teaming up to launch a credit card for Square merchants on the AmEx network. The expanded partnership will better support small businesses by organizing expenses and managing cash flow, according to a release. “Our brands will offer a credit-card product specifically designed for Square sellers, backed by […]
Financial software company Savana is partnering with management consultancy Capco to help banks with improving user experience (UX). The partnership allows banks to digitize their cores and implement APIs for process automation and faster product launches, according to a Savana release. “We can help banks to unlock next-generation, customer-centric banking operations and to thrive in […]
Stocks declined again on Friday, closing out September with large losses across the board as the rally from the June lows partway through August faded into memory.
The S&P 500 SPX, -1.51%
fell 1.5% on Friday. The benchmark index slumped 9.3% for September, leading to a 2022 loss of 24.8%. The Dow Jones Industrial Average DJIA, -1.71%
gave up 1.7% on Friday, for a September decline of 8.8%. The Dow has now fallen 20.9% for 2022. The Nasdaq Composite Index COMP, -1.51%
pulled back 1.5% on Friday for a September drop of 10.5% and a year-to-date plunge of 32.4%. (All price changes in this article exclude dividends.)
Below is a list of stocks in the S&P 500 that fell the most during September.
Nike Inc. NKE, -12.81%
was down 13% on Friday for a September decline of 22%, after the company warned that discounting to clear inventory would continue to affect its earnings performance. Here’s how analysts reacted.
The External Asset Management (EAM) sector has started to change dramatically. The pressure of regulatory changes, increased costs, organic growth challenges and requirement for adapted investment offerings have accelerated M&A amongst EAMs considerably in the past 12 months, and we expect this trend to continue in the coming months and years.
We are hosting external asset management events (Lugano 28th of September, Geneva 29th of September and Zurich 26th of October) and will highlight key learnings from recently announced M&A transactions, as well as key considerations for market participants to take advantage of current sector dynamics.
We will have the pleasure to welcome selected leaders from the industry who will share their perspective regarding their recent landmark M&A transactions, and will share key learnings and recipes for success with us.
To view the full program and register, please click here.
If you would like to discuss more on the above topics, please do reach out to our key contacts below.
Jean-François is the Swiss Financial Services Industry Leader and a Partner within Deloitte Switzerland’s Financial Advisory business. He also leads our Global Wealth Management segment and is a member of the Swiss Executive. He has more than 20 years of professional experience in the field and has worked in the United States, Canada and Switzerland. Jean-François has successfully completed numerous M&A advisory and valuation mandates in sectors such as financial services, technology and telecom industries.
Anthony West- Head of Corporate Finance and FSI M&A – Switzerland
Anthony leads the end-to-end M&A services proposition in Switzerland within Financial Services, while at the same spending most of his time overseeing the FSI Corporate Finance Advisory practice in Switzerland. Anthony joined Deloitte in 2012 and has been active in Financial Services M&A for over 25 years. Prior to joining Deloitte, Anthony was a Partner at a leading M&A boutique and before that was part of the FIG teams at Morgan Stanley and Credit Suisse Investment Bank, both in London, where he was responsible for coverage of the DACH region.
Jean-Philippe Fiot – Director FSI M&A – Switzerland
Jean-Philippe is a Director in our M&A advisory team and has over 12 years of industry experience. Jean-Philippe has advised on a broad range of M&A transactions across the banking, wealth and asset management sectors in Switzerland and internationally. Prior joining Deloitte, he has worked for an investment banking boutique in the UK.
Daniel is a Director in our Swiss M&A advisory practice focusing exclusively on the assessment, structuring and execution of mergers, acquisitions, disposals and joint ventures within the financial services industry. Daniel has advised on a broad range of M&A transactions, with a strong focus on the asset and wealth management sub-sectors, including private banking and business services outsourcing (BPO) providers, both in Switzerland and internationally. Prior to joining Deloitte, Daniel worked for an investment banking boutique in London and the in-house M&A team of a leading Swiss bank in Zurich.
Vancouver, BC, May 25, 2017 (Newswire.com)
– Control, a leading transaction analytics and alerts platform for SaaS, subscription and eCommerce businesses, has added an integration with Square.
As the first standalone analytics and reporting tool to integrate with Square, Control now offers merchants that accept payments online and offline the efficiency of seeing all their analytics on one dashboard, rather than having disjointed data that will require manual calculation.
“We are excited to be working together with Square. Square changed the way businesses accept payments, removing the friction that came with acquiring and setting up antiquated POS systems. The future of commerce for smaller businesses is a blend of online and offline. Teaming up with Square ensures that these operators have the analytics and business intelligence they need to grow their company.”
Kathryn Loewen, Founder and CEO of Control
“We are excited to be working together with Square,” says Kathryn Loewen, Founder and CEO of Control. “Square changed the way businesses accept payments, removing the friction that came with acquiring and setting up antiquated POS systems. The future of commerce for smaller businesses is a blend of online and offline. Teaming up with Square ensures that these operators have the analytics and business intelligence they need to grow their company.”
A 2015 study conducted by IDC found that a shopper who buys on both online and offline channels has 30% higher lifetime value than those who only participate on one channel. Monitoring the spending habits of customers is not only crucial for big companies, but for smaller ones too. However, smaller businesses don’t have access to all-in-one enterprise tools. They are restricted by price and size of staff. They use different softwares stacks to accomplish various tasks such as payment — arguably the most important task for any business of any size.
Through its integration with Square, Control becomes the cost-effective, time-saving solution for small to medium-sized business, doing business online and offline, needing critical data in real-time.
“Access to real-time data and insights is critical for any business, whether it’s learning more about your customers or tracking sales performance,” said Pankaj Bengani, Square’s Partnerships Lead. “We’re excited to give sellers more tools to run their business and take payments with Square.”
In addition to Square, Control also added John J. McDonnell, COO of Deep Labs — a transaction processing and risk management platform — to the board of directors. McDonnell has been in the FinTech sector for over 20 years. After McDonnell earned his B.A. degree with honors from Stanford University and his J.D. from UCLA law school, he held executive roles at Visa, CyberSource, Paymo (now BOKU), PaylinX and TNS.
About Control: (https://www.getcontrol.co) Control is a leading transaction analytics and alerts platform for SaaS, subscription, and eCommerce, enabling instant intelligence anywhere via its Android, iOS, and web-based products. Control combines data from multiple sources such as PayPal, Stripe and Square to provide key metrics, without the need for manual calculation or spreadsheets.
