Latest news with #investmentbanking
Associated Press
8 hours ago
- Business
- Associated Press
FTI Foodtech International Inc. Announces Appointment of Veteran Capital Markets Exec Richard Rosenblum as President
VANCOUVER, B.C., CANADA - FTI Foodtech International Inc. (TSX-V: FTI) ('FTI' or the 'Company') is pleased to announce Richard Rosenblum, a distinguished executive with over 30 years of proven leadership across strategic advisory, capital formation, investment banking, and public company governance, has been appointed President of FTI. This strategic appointment marks a significant milestone in FTI's expansion into the U.S. market and positions the company for accelerated growth and cross-border investment opportunities. Mr. Rosenblum will be based out of Delray Beach, Florida, where he will lead the Company's planned American operations and help drive long-term shareholder value. His deep expertise in capital markets, corporate strategy, and scaling companies from early-stage to public market success aligns with FTI's vision of building a robust, innovation-led global platform. Currently serving as Founding Principal and CEO of Harborview Capital Advisors LLC, a boutique advisory and investment firm established in 1994, Mr. Rosenblum has spearheaded capital raises, M&A transactions, and growth strategies across industries. He has also overseen a wide array of commercial and multifamily real estate investments both domestically and internationally. Mr. Rosenblum has previously served as President, Chief Financial Officer, Secretary and Director of Innovative Payment Solutions, Inc., an emerging growth fintech company. His previous leadership roles include serving as Director, President, and Executive Chairman of Alliqua Biomedical Inc. (NASDAQ: ALQA), now trading as Nexgel Inc. (NASDAQ: NXGL), where he guided the company through critical phases of product development, commercialization, and public market expansion in the wound care space. In addition to his new role at FTI, Mr. Rosenblum continues to serve as an Independent Director at Innoveren Scientific Inc. Inc (IVRN) a biosciences company developing cellular therapeutics for chronic respiratory conditions, where he provides strategic and financial oversight. Mr. Rosenblum earned his B.A. in Finance and Accounting, summa cum laude, from the State University of New York at Buffalo. He is also a founding board member of the Dr. David Feit Memorial Foundation, a philanthropic organization supporting youth-focused programs. With extensive experience navigating U.S. and Canadian markets (NYSE, NASDAQ), Mr. Rosenblum brings invaluable leadership as FTI expands its footprint, strengthens its operational foundation, and advances its mission to bring value-driven innovation to global markets. 'This appointment is a very strategic and important one for FTI as we continue our growth at FTI and Richard will play a key role, especially in the USA market and, along with assisting myself in developing FTI becoming a leader within its industry', said Stephen Brown, Chairman and CEO of the Company. About FTI Foodtech International Inc. The company is focused on developing an innovative retail and barter e-commerce platform for products that address challenges and promote sustainability within the cosmetic, skincare, wellness, health and industrial product industries. FTI is committed to delivering high-quality, reliable products and solutions that meet the evolving needs of its clients worldwide. Forward-Looking Statements This information release contains certain forward-looking information, including about the Company's planned American operations. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or more information, contact: Stephen Brown, CEO [email protected] 778-819-0138 Media Contact Company Name: FTI Foodtech International Inc. Contact Person: Stephen Brown Email: Send Email Country: Canada Website: Source: Release News - PR Distribution
News24
17 hours ago
- Business
- News24
Standard Bank wins 10 awards at EMEA Finance Africa Banking Awards
Standard Bank, the biggest bank in Africa by assets, has won an impressive 10 awards at the 17th annual edition of the EMEA (Europe, Middle East and Africa) Finance Magazine Africa Banking Awards. The EMEA Finance Magazine Achievement Awards were recently held in London. Award winners are nominated by banks and their clients and chosen by the EMEA Finance editorial team. Standard Bank Corporate and Investment Banking was recognised across three categories, equity capital markets, taking five awards, three in mergers & acquisitions (M&A) and two in syndicated loans. These are inclusive of the Best M&A house in Africa accolades, two Best M&A deals in Africa for deals originated in Nigeria and East Africa, and the Best IPO in Africa Awards for the Boxer Retail deal. 'We are proud to be recognised across various categories for our innovative and client-led solutions. They reaffirm our commitment to sustainably growing the continent we proudly call home. 'This highlights the importance we place on aligning our purpose with action through innovative deals across the African continent,' says Luvuyo Masinda, Chief Executive of Standard Bank Corporate and Investment Banking. The Awards recognise the most notable transactions and the organisations behind them across a variety of markets, including debt and equity capital markets, loans, Islamic finance, structured finance and more. 'We will continue to strive to deliver innovative, exceptional service tailored to our clients' needs where they need them,' concludes Masinda.
Globe and Mail
17 hours ago
- Business
- Globe and Mail
Goldman Stock Surges Over 57% in a Year: Is There Still Room to Run?
The Goldman Sachs Group, Inc. GS shares have surged 57.3% over the past year, outperforming the industry 's 40.9% growth. Its peers, JPMorgan JPM and Morgan Stanley MS, shares rose 48.4% and 50.6%, respectively, over the same time frame. Price Performance With such strong momentum, investors are now asking: Is there still room for Goldman to run, or has the stock peaked? Let us delve deeper and analyze what's driving the growth and whether there is more scope to grow further. Prospects of Goldman's IB Business A robust revival in merger and acquisition (M&A) activity was expected for 2025, bolstered by a potentially business-friendly Trump administration, expectations for regulatory rollbacks and pent-up demand. However, the reality so far has been more complicated. Now, the timeline for a solid rebound in M&As has shifted to the second half of 2025 due to Trump's tariff plans, which resulted in extreme market volatility. Given mounting inflationary pressure, a slowdown/recession in the U.S. economy is expected. Amid such a backdrop, companies are rethinking their M&A plans despite stabilizing rates and having significant investible capital. In the first quarter of 2025, Goldman reported an 8% year-over-year decline in IB revenues, underwhelming against JPMorgan's 12% growth and Morgan Stanley's 7.7% increase in IB fees over the same period. On the surface, this may suggest Goldman is losing ground to its peers. However, the company continues to maintain a leading market share in global M&A advisory, underscoring deep institutional relationships and trusted deal execution capabilities. GS has reported an increased IB backlog, indicating a strong pipeline of potential deals that could convert into revenues as soon as macro conditions improve. This positions Goldman to capitalize well once M&A momentum improves, potentially giving it an edge over peers. GS & Easing Capital Requirement Proposal This week, the Federal Reserve proposed a 1.4% reduction in capital requirements for Global Systemically Important Banks (GSIBs), which could translate to approximately $13 billion in capital relief for major players like Goldman, JPMorgan, and Morgan Stanley. This proposal, if finalized, would increase operational flexibility for GS. With lower capital buffers, Goldman would be able to reallocate resources more efficiently, potentially scaling operations in key areas such as lending, trading and treasury activities. Further, freeing up billions in capital could boost return on equity (ROE) and unlock new growth avenues. The company may opt to deploy excess capital into higher-yielding assets, invest in business expansion, or return it to shareholders via dividends and share buybacks. Goldman's Focus on Core Business GS is making efforts to exit non-core consumer banking business and sharpen its focus on areas wherein it holds a competitive edge — IB, trading, and asset and wealth management (AWM). Last November, per the Wall Street Journal report, Goldman received a proposal from Apple to end their consumer banking partnership. Per a January 2025 Reuters report, the collaboration may end before the contract runs out in 2030. The move is expected to affect two consumer banking products that Apple currently offers — the Apple Card and the Apple Savings account. In 2024, Goldman finalized a deal to transfer its GM credit card business to Barclays and completed the sale of GreenSky, its home-improvement lending platform. In 2023, the company divested its Personal Financial Management unit. These moves demonstrate a well-thought-out exit from consumer finance, allowing Goldman to reallocate capital and attention toward higher-margin, more scalable businesses. This strategic shift is benefiting the AWM division, which now plays a crucial role in the company's long-term growth. AWM is expanding into fee-based revenue streams to help offset the volatility of the IB business. As of March 31, 2025, AWM managed more than $3.2 trillion in assets under supervision and is experiencing strong momentum in alternative investments and customized wealth solutions for ultra-high-net-worth individuals. In the first quarter of 2025, Goldman reported significant net inflows into its wealth management platform, providing solid evidence of the segment's increasing market traction and client confidence. Goldman's Strong Liquidity Profile GS maintains a fortress balance sheet, with Tier 1 capital ratios well above regulatory requirements. This financial strength allows it to return capital to shareholders aggressively through buybacks and a healthy dividend yield (1.79%). As of March 31, 2025, cash and cash equivalents were $167 billion, and near-term borrowings were $71 billion. Given its strong liquidity, the company rewards its shareholders handsomely. In July 2024, it increased its common stock dividend 9.1% to $3 per share. In the past five years, the company hiked dividends four times, with an annualized growth rate of 23.6%. Currently, its payout ratio sits at 28% of earnings. Meanwhile, GS' peer JPMorgan raised its dividend five times over the past five years, with a payout ratio of 27%. Morgan Stanley raised its dividend four times over the past five years and has a payout ratio of 43%. Additionally, Goldman has a share repurchase plan in place. In the first quarter of 2025, the board of directors approved a share repurchase program authorizing additional repurchases of up to $40 billion of common stock. Earlier, in February 2023, it announced a share repurchase program, authorizing repurchases of up to $30 billion of common stock with no expiration date. At the end of the first quarter, GS had $43.6 billion worth of shares available under authorization. Goldman's Estimates and Valuation Analysis The Zacks Consensus Estimate for GS' 2025 and 2026 revenues indicates a year-over-year rise of 3.5% and 5.9%, respectively. Likewise, the consensus estimate for 2025 and 2026 earnings indicates an 8.8% and 14.1% rise, respectively. Sales Estimates Image Source: Zacks Investment Research Earnings Estimates Image Source: Zacks Investment Research In terms of valuation, GS stock also looks expensive. The stock is trading at forward price/earnings (P/E) of 14.60X compared with the industry average of 14.55X. Goldman is also trading at a discount compared with its peers, JPMorgan and Morgan Stanley. Currently, JPM and MS have P/E multiples of 15.26X and 15.67X, respectively. Price-to-Earnings F12M GS Stock: A Solid Long-Term Play, Near-Term Caution Advised Goldman has delivered outstanding returns over the past year, driven by strategic initiatives, strong capital returns and a growing wealth management business. Though its IB business performance lagged peers in the first quarter, its leadership in M&A advisory and robust deal pipeline signal potential upside once market conditions stabilize. The Fed's proposed capital requirement changes, combined with Goldman's exit from lower-margin consumer banking, provide additional flexibility to boost profitability and scale core operations. However, with the stock trading at a premium compared with the industry and macro uncertainties persisting, the near-term risk/reward may be balanced. As such, Goldman stock warrants a cautious approach for now. However, it remains a strong long-term holding for investors looking for exposure to a diversified, well-capitalized financial giant poised to benefit from a recovery in deal-making and capital markets activity. At present, Goldman carries a Zacks Rank #3 (Hold) You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Morgan Stanley (MS): Free Stock Analysis Report
Yahoo
a day ago
- Business
- Yahoo
Mediobanca pledges to return $5.74 billion to investors to counter MPS bid
MILAN (Reuters) -Italian merchant bank Mediobanca said on Friday it would return 4.9 billion euros ($5.74 billion) to shareholders, mostly in cash, over three years to 2028 as it seeks to fend off a hostile bid from smaller rival Banca Monte dei Paschi di Siena (MPS). Mediobanca reiterated in a statement that MPS' offer "lacks an industrial and financial rationale for Mediobanca shareholders and carries clear and significant execution risks." After gaining regulatory approval from the European Central Bank on Wednesday, MPS is ready to launch its all-share bid for Mediobanca next month. In an attempt to become too big for MPS to swallow, Mediobanca proposed in April to buy private bank Banca Generali. But it was forced to delay a shareholder vote on the deal to September 25 to avoid a possible defeat, as investors opposing the deal have recently increased their holdings in the merchant bank. In its updated three-year plan to 2028, published on Friday, Mediobanca confirmed it would focus on growing its wealth management business, with its corporate and investment banking segment providing support, and consumer finance operations serving as a driver of diversification against macroeconomic risks. "This virtuous path will be further strengthened by the offer for Banca Generali", it said. In its previous three-year plan to 2026, Mediobanca had said it would return more than 4 billion euros to shareholders over the period and forecast a net profit above 1.4 billion euros. Mediobanca now sees net profit growing 4.5% over the three financial years to 2028, reaching 1.9 billion euros, and expects revenue to rise at an annual average rate of 6% to over 4.4 billion euros. ($1 = 0.8537 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
a day ago
- Business
- Zawya
EFG Hermes leads Specialized Medical Company's debut on Tadawul
Egypt - EFG Hermes, an EFG Holding Company, closed its advisory on the $500 million initial public offering (IPO) of Specialized Medical Company (SMC), marking its third IPO in the healthcare sector over the past 12 months. The company began trading on the Main Market of the Saudi Exchange (Tadawul) on 26 June under the ticker 4019, according to a press release. The Saudi group offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share, implying a market cap of SAR 6.25 billion ($1.66 billion). The orders recorded during the institutional book-building crossed SAR 121.30 billion, representing a coverage of 64.7x. Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said: 'Despite heightened geopolitical tensions in the region, the offering attracted overwhelming interest from a diverse base of local, regional, and international investors — a clear vote of confidence not only in SMC's fundamentals but also in the resilience of Saudi Arabia's capital markets and the strength of its macroeconomic outlook.' EFG Hermes acted as a joint financial advisor, joint bookrunner, and joint underwriter on the transaction. The company recently concluded its advisory on the listing of U Consumer Finance (Valu) on the Egyptian Exchange (EGX).
