H&M Group's head of AI strategy leaves after seven years
Leopold joined H&M in September 2018 as head of AI policy and progressed to her current role. During her time with the group, she built the Responsible AI programme from the ground up and led key initiatives in digital ethics and generative AI. 'These have been extraordinary years, during which I not only helped shape H&M's AI efforts, but also witnessed the rapid evolution and adoption of AI. With AI at a pivotal moment, I want to use my knowledge to guide organisations through responsible AI transformation,' said Leopold.
In 2022, Forbes magazine named her one of 'The nine inspiring female leaders in AI shaping the 21st century'. Prior to her work at H&M, Leopold was an innovation strategist at the intersection of fashion and technology and editor-in-chief of the fashion and culture magazine Bon. She has also written two non-fiction books and was a columnist for Di, Scandinavia's largest financial newspaper. This article was translated to English using an AI tool.
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Reuters
25 minutes ago
- Reuters
Citi to boost Japan investment banking headcount up to 15%, executive says
HONG KONG, July 16 (Reuters) - Citigroup (C.N), opens new tab plans to raise its investment banking headcount in Japan by 10% to 15% over the next year and make new hires in Australia, as part of its strategy to bolster growth in the Asia Pacific, its top regional banker said. Rising interest in cross-border mergers and acquisitions (M&A) in Japan has resulted in Citi seeing a 140% rise in its investment banking fees in the country to $92 million as of July 10 compared to the same period last year, Dealogic data shows. "We are hiring and strengthening our regional investment banking team in a very meaningful way," Jan Metzger, Citi's Asia Pacific head of investment banking, told Reuters. "We're going to be in the market that's growing phenomenally and we're going to be growing faster than the market," Metzger said. The U.S.-headquartered bank did not disclose specific staff numbers for each market. Japan's investment banking business, in particular, will "meaningfully grow" due to a shift in corporate governance, a regulatory nudge to corporates to improve market value, and strong supply of advanced hardware technologies, Metzger said. In Japan, Citi exclusively advised Nippon Steel on its $14.9 billion acquisition of U.S. Steel last month. "I think off the back of the Nippon Steel deal, our phones are really ringing off the hook with clients that have complicated geopolitical deals to do, both from Japan and elsewhere," Metzger said. Citi has beefed up its investment banking team in Asia this year by recruiting senior bankers from rivals, including senior managing director Akira Kiyota from Nomura in Japan and former Goldman Sachs veteran Philippe Perzi in Australia. On Tuesday, Citi reported a 13% rise in global investment banking fees in the second quarter. Dealmaking in the U.S. and some markets stalled shortly after Trump unleashed hefty tariff hikes earlier this year, which weighed on economic growth. However, Metzger said he is seeing greater uncertainty driving up supply chain deals. Japan is leading Asia's M&A rebound in 2025 with a record $232 billion worth of deals in the first half, and bankers expect the trend to sustain fuelled by take-private arrangements, outbound investments and private equity activity. Meanwhile, as volume and number of international deals climb in Australia, global banks now have an edge over local boutiques in a highly competitive market, according to Metzger. Having a "full banking offering" in the market helps Citi better compete with its advisory-focused competitors in Australia, he said. Besides deals advisory, another regional focus for the bank is convertible bond issuances, which have leapt over the past year. The bank helped Alibaba ( opens new tab raise HK$12 billion ($1.5 billion) via an exchangeable bond offering earlier this month. Investors have flocked to convertible bonds from Chinese tech companies, viewing them as undervalued assets offering downside protection through the bond component to hedge geopolitical risks, Metzger said.
The Herald Scotland
3 hours ago
- The Herald Scotland
Why UK and Scottish Governments must 'step up' on devolution
Her response comes after Scottish Secretary Ian Murray urged her to work with Westminster to reverse First Minister John Swinney's policies of 'centralisation'. In a long-running devolution row, the SNP councillor said she was 'disappointed' by the letter, accusing the Scottish Secretary of suggesting the 'UK Government has no role in delivering deals for Scottish cities'. 'This is a misguided regression from what, up until now, had been a shared commitment to successful tripartite collaboration between two governments and the collective democratic leadership of the City Region,' Ms Aitken said. However, she said: 'Glasgow – and Edinburgh, for that matter – needs both of our governments to step up on devolution.' Read more: The back and forth comes after Ms Aitken raised concerns that Scotland's largest city had been sidelined by the Chancellor's spending review in June. The Treasury confirmed a £160 million Investment Zone in the Glasgow Region and £20m for Trailblazer Communities, but Ms Aitken argued it fell short of the funding offered to English counterparts. Ms Aitken said Rachel Reeves took a "retrograde" step for devolution by expanding a scheme that allowed city regions in England to bypass applying for individual grants through competitive bidding processes. The designated areas instead will receive long-term funding to make their own investment decisions. Glasgow, meanwhile, must bid for funding alongside other parts of the UK. Mr Murray had argued that devolution in Scotland was entirely "a matter for the Scottish Government". However, he said the UK Government wanted to work together to "unlock the same levels of growth as your English counterparts in Greater Manchester" and offered to draft a joint letter to Mr Swinney. The Glasgow City Council leader said she was 'happy' to take up the Scottish Secretary's offer to write jointly to the First Minister. However, she said any letter must also be addressed to Prime Minister Sir Keir Starmer and the Chancellor, Ms Reeves. Read more: Writing for The Herald, Ms Aitken said: 'The vast majority of the powers to be devolved are, indeed, in the gift of the Scottish Government – and I've made no secret of my view that they need to put more pace behind commitments to empower Scotland's city regions. 'However, the devolution of powers without funding would still leave city regions in all of our devolved nations without the economic tools available to our English counterparts.' Ms Aitken said that equivalent funding outlined for English regions has not resulted in any additional cash for Scotland, adding: 'Therefore, it is clear that the resourcing of any devolution deal remains the responsibility of the UK Government.' In his letter to the council leader, Mr Murray said: 'We are always open to constructive discussions with the Scottish Government to reverse its centralisation policy and devolve powers to our cities and regions.' The announcement from last month's spending review means that almost 40% of England's population will now have local control over the integrated settlement funding. London, the North East, West Yorkshire, South Yorkshire and Liverpool City region were added to the scheme, joining the original arrangements in Greater Manchester and West Midlands. In her response to Mr Murray, Ms Aitken said that leaders of the UK Core Cities have combined to urge the UK Government to provide 'parity' in funding for Glasgow, Cardiff, Belfast and Edinburgh. 'They agree that we are being disadvantaged and that the recent UK Spending Review was a missed opportunity to begin to address that inequity,' she said. The Scottish Government previously told The Herald it was looking at ways to devolve further powers to cities including Glasgow. But Secretary Shona Robison said the spending review 'short-changed' Scotland. A Scottish Government spokesperson said: 'Councils play a crucial role in our communities which is why we jointly launched the Local Governance Review with COSLA to ensure communities have greater control and influence over decisions that affect them most. 'We are also committed to working with local authorities to deliver greater regional empowerment on decision making and investment and are working with partners to explore ways of devolving further powers to Regional Economic Partnerships, including Glasgow City Region. 'The Scottish Government has delivered a wide range of fiscal powers for local councils including greater powers within planning, parking charges, workplace parking and in Council Tax, being able to charge up to 100% on second and long term empty homes. In addition, the two-year local government pay offer, accepted by trade unions last week, will see all workers getting the pay they deserve over the summer.' A UK Government spokesperson said: "The UK government has delivered record funding for the Scottish government with an additional £9.1 billion in Barnett consequentials over the next four years, this includes an additional £380m as a result of plans for housing, communities and local government in England. "On top of this the UK Government is also investing £1.7 billion in local projects across Scotland. We are pleased Councillor Aitken recognises that the powers that need to be devolved to city regions sit with Holyrood, and the Secretary of State for Scotland is looking forward to working with her to reverse an agenda of centralisation of both power and funding which has unfortunately been a hallmark of recent Scottish Government policy."
The Herald Scotland
3 hours ago
- The Herald Scotland
Glasgow and Edinburgh need our governments to step up on devolution
The vast majority of the powers to be devolved are, indeed, in the gift of the Scottish Government – and I've made no secret of my view that they need to put more pace behind commitments to empower Scotland's city regions. However, the devolution of powers without funding would still leave city regions in all of our devolved nations without the economic tools available to our English counterparts. Glasgow City Region partners are clear that we require a flexible integrated settlement, equivalent to those already provided and pipelined for our English peers. These have not generated Barnett consequentials and no equivalent funding has ever been provided to the Scottish Government – therefore it is clear that the resourcing of any devolution deal remains the responsibility of the UK Government. Across the country, leaders of the UK Core Cities are calling on the UK Government to provide parity of funding support for Glasgow, Cardiff, Belfast and Edinburgh. They agree that we are being disadvantaged and that the recent UK Spending Review was a missed opportunity to begin to address that inequity. The inclusive growth proposition that the Glasgow City Region has put to government is as compelling as any that can be made across these islands – and Glasgow and Edinburgh City Regions are among the most economically productive in the UK. But as David Waite points out in his thoughtful and nuanced article ("Should Glasgow and Edinburgh follow Greater Manchester's lead?", The Herald July 14), we are at risk of losing out by being made a political football. I'm happy to take the Secretary of State up on his offer to write jointly to the First Minister – but that letter needs to go to the Prime Minister and Chancellor too. Glasgow – and Edinburgh, for that matter – need both of our governments to step up on devolution. Cllr Susan Aitken, Chair, Glasgow City Region Cabinet, Leader of Glasgow City Council. Read more letters A scorching denunciation We are now well into the 21st century and Kevin McKenna may no longer actually dip his pen into gall, thereby putting any parchment at risk, but it would not be surprising to hear that his computer had burst into flames as he composed his denunciation of NHS Fife ("Sandie Peggie's case against NHS Fife is more important than Supreme Court judgment", The Herald, July 15). Such forensic condemnation and an examination of the potential implications of the outcome of Ms Peggie's tribunal do him great credit. Not for the first, nor probably the last time, one is left with head-shaking incredulity at the lengths that organisation and similar publicly funded bodies will go to in order to endorse current politically correct dogma. Bob Scott, Drymen. • Kevin McKenna's article on the case against Sandie Peggie is one of the most powerful I have read in years and to which I completely extend my support, along with my support for Ms Peggie. It is a complete and utter disgrace that the tribunal still goes on and many of Scotland's "governing class" and cowardly, line-toeing unions should be ashamed. Angus MacEachran, Aberdeen. Colour call It's interesting that England women's football team's kit is red, white and blue. Sadly Scotland didn't qualify for the Euro finals and Wales didn't progress from their group but the Lionesses proudly carry the colours of the United Kingdom. Did the kit designers predict England would be the only team to carry the hopes of the UK forward or was there some confusion over the difference between England and the UK? Stuart Campbell, Moffat. Bing is a thing, honest I have a little niggle re the Word Wheel. I am addicted to this puzzle, but find that the word "bing" seems to be ignored constantly. Although it is present often in the wheel, it is never included in the solutions – nor does it even appear in my wee dictionary. However, most people in the central belt were familiar with the spoil-heaps adjacent to coal-mines. It IS a word. Elspeth Russell, Hamilton. Well above par In response to Alan Fitzpatrick (Letters, July 15) and much as I love the views from Shiskine golf course, may I suggest as an even stronger contender for "best golf course view": that from the 6th tee at Kingussie? The Monadh Liadh to your back, the Feshie hills and the Cairngorms in front, and Strathspey to left and right. Add in the deer and an occasional eagle: beautiful! Brian Chrystal, Edinburgh. England's Lionesses in red, white and blue (Image: PA) Ground the wet blankets Now that Scotland's weather has reverted to type, with rain forecast for the next 10 days, might I suggest that those who complained about our recent brief spell of Mediterranean-style weather should have their passports confiscated? Steve Brennan, Coatbridge. Sweet innocence The discussion about the merits or otherwise of the Scots language ('Are Scots speakers poorer and less educated? Or could we just be missing an opportunity?', The Herald, July 14, and Letters, July 15) brought to mind an incident about 40 years ago. My sister was living in London at the time and my mum, dad and I went to see her. We waited outside as my mum went into my sister's local newsagent and asked for 20 cigarettes, a box of matches, four bars of chocolate and a packet of mints. Mum came out of the shop looking somewhat bemused and told us that the gentleman behind the counter suddenly looked "awfy embarrassed" and had blurted out for no reason at all that he had a wife. We quizzed her on what she had said to him, to which she informed us that she had simply asked for her items and then added: "Any chance you could give me a poke, son?" Gordon Fisher, Stewarton.
