I-Byte Financial Services April 2021

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I-Bytes
Financial Services
April Edition 2021
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Table of Contents
1. Financial, M & A Updates....................................................................................................................................1
2. Solution Updates.................................................................................................................................................14
3. Rewards and Recognition Updates...................................................................................................................21
4. Customer Success Updates................................................................................................................................30
5. Partnership Ecosystem Updates.......................................................................................................................34
6. Environment & Social Updates........................................................................................................................44
7. Miscellaneous Updates......................................................................................................................................48

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Financial, M & A Updates
Financial Services Industry

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Financial, M&A Updates
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CIT (USA) Serves as Sole Lead Arranger on $39 Million Financing for Philadelphia
Medical Office Building
CIT Group Inc. announced that its Healthcare Finance business served as
sole lead arranger on a $39 million loan to finance the Jefferson Health
medical office building adjoining the Philadelphia Navy Yard Corporate
Center. The borrower, Norvin Healthcare Properties, is an experienced and
successful manager of healthcare properties across a variety of markets. It
acquired the four-story medical office building at 3 Crescent Drive in
December 2019. The facility is located close to well-traveled locations such
as the South Philadelphia Sports Complex, downtown Philadelphia,
Interstate 95 and the neighboring Navy Yard. CIT's Healthcare Finance
unit, part of the Commercial Finance division, provides comprehensive
financing and banking solutions to middle market healthcare companies
across the U.S. By using a client-focused and industry-centric model,
Healthcare Finance can tailor its products and services to help clients meet
their needs for growth capital.
Executive Commentary
"Jefferson Health is an outstanding, modern medical office building in
an attractive location with available parking and a strong tenant," said
president of Norvin Healthcare Properties. "We selected CIT because of
their solid reputation, agility, healthcare expertise and proven history of
successfully arranging financing for medical office properties."
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Kinnevik (Sweden) invests USD 30 million in Cityblock to support nationwide
expansion
Kinnevik AB announced its participation with USD 30m in Cityblock’s recent
USD 192m funding round. Cityblock will use the newly raised capital to
accelerate deployment of its community and value-based care model nationwide,
bringing desperately needed transformation to the most vulnerable and
underserved communities across the US. In just four years since its launch,
Cityblock has achieved positive results with its comprehensive care model. Data
from Cityblock’s first member cohort show a 15 percent reduction in emergency
room visits and a 20 percent reduction in in-patient hospital stays. Cityblock sees
around 70 percent member engagement compared to the health plan average of
5-7 percent and receives average NPS scores of over 85, compared to the provider
average of 15. While delivering these outcomes, Cityblock is experiencing 3x
year-over-year revenue growth. The USD 192m funding round was an extension
of Cityblock’s Series C round. Tiger Global led this latest round, with
participation from other existing investors alongside Kinnevik, including
Maverick Ventures, General Catalyst, and Wellington Management.
CEO of Kinnevik commented: “Cityblock addresses a massive need in the US
supporting the most vulnerable population groups with a community-based,
scalable care model. This is a great example how value-based care can
transform the healthcare experience and achieve sustainable change, even for
populations which are fundamentally disadvantaged in today’s healthcare
system. We are proud to continue to support the founders Toyin Ajayi and Iyah
Romm by investing well above pro-rata as they expand the model across the
US.”
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Goldman Sachs (USA) Commits Additional $500 Million to Launch with GS for
Total of $1 Billion
The Goldman Sachs Group, Inc. announced that it has committed an additional $500
million to investing in diverse businesses and funds through its Launch with GS
initiative, doubling its original commitment for a total of $1 billion. Goldman Sachs
announced Launch With GS, initially a $500 million commitment to invest in
diverse-led companies and fund managers. Launch with GS was born out of the
data-driven belief that diverse leadership teams perform better. Since the
announcement, the firm has deployed more than $450 million across companies and
managers with diverse management teams. As part of the first $500 million, Launch
with GS has committed to both companies and funds. Select companies include:
BentoBox, Billie, Burst Oral Care, and LeaseQuery. Select funds include: Construct
Capital, Define Ventures, and MaC Venture Capital. A critical part of Launch With
GS is also the global ecosystem that has been created by bringing together investors,
entrepreneurs, non-profit organizations and other leaders to nurture and grow early
stage businesses. The ecosystem was created with the belief that fostering a
community will, over time, help increase the pipeline of investment opportunities in
diverse businesses.
“Through our work with Launch With GS, we saw that the pipeline of
opportunities to back diverse-led companies and funds was both broad and deep,
exceeding our expectations,” said Chairman and CEO of Goldman Sachs. “Our
initial investments, and our continuing engagement with entrepreneurs in our
ecosystem, have compelled us to double our commitment, less than three years
in. As we’ve said from the beginning, investing behind diversity is good
business.”
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Goldman Sachs (USA) Commits $10 Billion in Investment Capital and $100 Million
in Philanthropic Capital to Impact the Lives of One Million Black Women
The Goldman Sachs Group, Inc. announced a new investment initiative
of more than $10 billion to advance racial equity and economic
opportunity by investing in Black women. In partnership with Black
women-led organizations, financial institutions and other partners,
Goldman Sachs will commit $10 billion in direct investment capital and
$100 million in philanthropic capital over the next decade to address the
dual disproportionate gender and racial biases that Black women have
faced for generations, which have only been exacerbated by the
pandemic. The initiative, One Million Black Women, is named for and
guided by the goal of impacting the lives of at least 1 million Black
women by 2030. Goldman Sachs has joined with partner organizations
on listening sessions to understand the barriers to opportunity Black
women face and how targeted investments can address these barriers.
“This initiative is transformational,” said Convener of the Black
Women’s Roundtable and President and CEO of the National
Coalition on Black Civic Participation, a partner with Goldman Sachs
on the program. “What Goldman Sachs is doing has the potential to
materially impact the lives of Black women, their families and
communities across the country.”
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Macquarie (Australia), MAPFRE acquire prime Hamburg office building
Macquarie Asset Management and MAPFRE have acquired An der
Alster 42, a prime office building in Hamburg, from Allianz Real Estate.
The approximately 6,000m2 property is in the vibrant St. Georg district,
near Hamburg’s city centre and close to key transport connections. The
six-storey office building overlooks the Outer Alster Lake and is leased
on a long-term basis to two high-grade anchor tenants. An der Alster 42
was developed in 2018 with consideration for the highest design and
sustainability standards. Tenants of the fully accessible building benefit
from high-quality furnishings, a green inner courtyard, a rooftop terrace,
underground and outdoor carparking space, secure bicycle storage,
changing rooms and shower facilities. In recognition of its strong
sustainability performance, An der Alster 42 is DGNB Gold Certified.
Chief Real Estate Officer of MAPFRE, said: “An der Alster 42 is a
best-in-class office building, perfectly positioned in one of
Hamburg’s most dynamic districts. This acquisition underlines our
continued success in securing attractive investment opportunities
across Europe’s core real estate market for our fund investors.”
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Mastercard (USA) Completes Acquisition of Nets’Account-to-Account Payment
Business
Mastercard completed its acquisition of the majority of the
Corporate Services business of Nets, a leading European PayTech
company, having met the conditions set out by the European
Commission in its approval in August 2020. The additions to
Mastercard will support a broader set of account-to-account
capabilities, including clearing and settlement instant payment
infrastructure, bill payment and E-invoicing applications. Over the
past few years, Mastercard has continued to expand its reach
beyond card payments, executing on its multi-rail strategy. The
proven real-time and pioneering bill payment solutions of Nets’
Corporate Services complement Mastercard’s growing suite of
payment capabilities.
“Today is a significant milestone as we continue to build out our
multi-rail payment solutions beyond cards,” said president of
New Payment Platforms, Mastercard. “This acquisition brings
top talent and innovative technology, enhancing our existing
multi-rail propositions to enable greater access, choice and
flexibility in how people want to pay and get paid.”
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Morgan Stanley (USA) Closes Acquisition of Eaton Vance
Morgan Stanley announced that it has completed the previously
announced acquisition of Eaton Vance Corp. in a stock and cash
transaction. Eaton Vance common stockholders were offered 0.5833
Morgan Stanley common shares and $28.25 per share in cash for each
Eaton Vance common share, and had the opportunity to elect to receive
the merger consideration all in cash or all in stock, subject to proration
and adjustment. As provided under the merger agreement, Eaton Vance
shareholders also received a special dividend of $4.25 per share. Morgan
Stanley is a leading global financial services firm providing a wide range
of investment banking, securities, wealth management and investment
management services. With offices in more than 41 countries, Morgan
Stanley’s employees serve clients worldwide, including corporations,
governments, institutions and individuals.
“This acquisition further advances our strategic transformation by
continuing to add more fee-based revenues to complement our
world-class, integrated investment bank. With the addition of Eaton
Vance, Morgan Stanley will oversee $5.4 trillion of client assets
across its Wealth Management and Investment Management
segments. The Morgan Stanley Investment Management and Eaton
Vance businesses are delivering strong growth and their
complementary investment and distribution capabilities will deliver
significant incremental value to our investment management clients,”
said Chairman and Chief Executive Officer of Morgan Stanley.
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Partners Group (Switzerland) to sell leading US digital engineering services
company GlobalLogic to Hitachi
Partners Group, a leading global private markets firm, has agreed to sell its joint lead ownership
stake in GlobalLogic, a leader in digital engineering services, to Japanese conglomerate Hitachi
LTD ("Hitachi"), on behalf of its clients. The transaction values GlobalLogic at an enterprise
value of USD 9.5 billion. Partners Group acquired a joint lead ownership equity stake in
GlobalLogic alongside equity partner Canada Pension Plan Investment Board ("CPP
Investments") at an enterprise value of USD 2 billion. Partners Group and CPP Investments each
hold an equity ownership interest of approximately 45% in the business and will both be exiting
as part of the transaction. Founded in 2000 and headquartered in San Jose, California,
GlobalLogic is a leader in design-led digital engineering services that develops next-generation
software platforms for enterprises and technology disruptors worldwide. The Company has over
20,000 professionals and other personnel operating from 30 engineering centers and eight design
studios spanning four continents. Aligned with Partners Group's focus on investments that have
broad positive stakeholder impact, GlobalLogic has played an instrumental role in helping
businesses navigate the digital transition, a key transformative trend that accelerated during the
COVID-19 pandemic, helping create a more efficient and sustainable society. GlobalLogic's
services accelerate clients' digital futures through a combination of best-in-class design expertise,
engineering and data-driven insights.
Co-Founder, Member of the Board of Directors, Partners Group, says: "GlobalLogic is
serving clients on the front line of the digital transition, helping them reimagine their
offering, adapt their business models and change how they engage with consumers.
Digitization is one of the three investment giga themes that Partners Group is focused on that
is driving change across industries worldwide. GlobalLogic is an exciting success story
demonstrating how Partners Group delivers sustainable returns to our clients through
transformational investing. It has been a pleasure to work in partnership with CPP
Investments and GlobalLogic's management team to support the Company's rapid growth
and cement its position as a market leader."
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Partners Group (Switzerland) acquires District Heating Platform in Northern
Europe
Partners Group, the leading global private markets firm, has, on behalf of its clients, agreed to
acquire one of the largest district heating platforms in the Baltics, from Finnish energy company
Fortum Corporation. The Company, which operates across Estonia, Latvia and Lithuania, has 74
generation assets, which generate heat capacity of 881 MW and power capacity of 130 MW
across 387 kilometers of district heating networks. The District Heating Platform's fuel is largely
derived from renewable or recycled sources, mainly biomass. Growing demand for district
heating is being driven by several transformative trends in the region, including fast-growing
economies and urbanizing populations, as well as rising support for sustainable energy initiatives.
The Company's sustainable heating services reduce reliance on conventional power sources,
which will have broad positive stakeholder impact over the long term. Partners Group will work
with the management team on a value creation plan that seeks to transform the company from a
portfolio of attractive district heating assets into an independent customer-centric residential and
industrial energy solutions provider. Partners Group will draw on its extensive experience in
building out infrastructure platforms to grow the asset through new greenfield projects and
targeted strategic acquisitions. Other transformational initiatives will include extending the
District Heating Platform's heating networks to develop new heating and cooling solutions for
industrial and commercial customers.
Managing Director, Private Infrastructure Europe, Partners Group, states: "Through
providing sustainable heating, this District Heating Platform is contributing to the
decarbonization of our economies, one of the three giga themes that Partners Group focuses
its investment activity on. This investment reflects Partners Group's continuing commitment
to transformational investing in assets that have meaningful impact on the communities in
which they operate. The Company delivers heating to thousands of homes and businesses
across the Baltic region, an area known for the severity of its winters. Looking ahead, a key
area of focus for us will be executing strategic acquisitions that we have identified, as well as
the development of several greenfield projects."
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Schroders (UK) announces acquisition of remaining minority interest in
Benchmark Capital
Schroders announces the acquisition of the remaining minority interest in
Benchmark Capital, an award-winning, technology-driven wealth
management business. Benchmark Capital, which has over £17 billion of
assets under administration on behalf of over 1,000 advisers, joined the
Schroders Group in 2016. announcement further builds on Schroders
strategic priority of continuing to expand our wealth management offering.
Benchmark, a market-leading business, offers a leading range of services to
UK financial advisers from network services, to platform and CRM
technology, to managed portfolio services, as well as succession
management for advisers, through business sale. Benchmark Capital has
grown rapidly over the past few years through a combination of organic and
inorganic expansion; Benchmark Capital acquired TRPP Wealth
Management and Mayfair Wealth Management in 2020, and in 2019
acquired Mitchell & Company and a majority stake in Finura Partners.
Global Head of Wealth Management and Chair of Benchmark,
commented: “Ian created a remarkable business with £17 billion assets
and it is important that he will continue to help us with his insights on
technology and the evolving needs of advisers in his role as
Non-Executive Director. We have been planning Ian’s succession for
several years and David is an excellent successor as CEO to achieve our
ambitious growth plans. The full completion of the Benchmark
acquisition further builds on Schroders core strategic priority of
continuing to expand our wealth management offering and we look as
we look forward to collaborating ever more closely with our
high-quality colleagues in Benchmark.”
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Schroders (UK) surpasses €500 million with European sub-investment grade
infrastructure debt fund
Schroders is announcing that it has raised €532 million for the Schroder Euro Enhanced
Infrastructure Debt Fund II (Julie II), following a successful first close which raised €312
million. The fund, which is managed by Schroder Aida - the group’s specialist
infrastructure finance team, was launched in Q3 2020 and aims to invest in European sub
investment grade infrastructure debt opportunities with a target of €750 million in total.
It is the second vintage of this strategy whose first fund (Julie) was launched in 2017 for
close to €350 million. This was almost fully deployed within two years. To date
Schroders has raised more than €1 billion for EUR and GBP sub-investment grade
infrastructure debt strategies, establishing the firm as one of the key asset managers
operating in this space in Europe. Building on this momentum, Julie II has achieved a
25% deployment rate in just seven months, having executed four transactions to date.
Julie II focuses on mid-sized brownfield core assets based in Europe, with a focus on
delivering diversified debt exposure across countries and sectors. These entail assets
which provide essential services, are capital intensive with high barriers to entry, have a
long economic life, deliver long-term cash flows, benefit from regulated markets and
have low technological risk.
Schroders Head of Enhanced Infrastructure Debt, commented: “Investing in
infrastructure is key to supporting the world’s growing population and boosting
economies. We remain convinced that there are attractive investment opportunities in
the sub-investment grade infrastructure debt space and have continued our good start
with the deployment of this second vintage.”
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SEI (USA) Acquires Oranj Platform to Digitize Collaboration for Financial
Advisors
SEI announced the acquisition of Oranj’s cloud-native technology
platform providing digital collaboration tools to financial advisors and
their clients. For advisors working with Independent Advisor Solutions
by SEI, the acquisition is expected to unlock new opportunities for
tech-forward client engagement, including a client portal that delivers
the financial insights investors have come to expect in a digital-first
world. The Oranj technology platform is intended to complement the SEI
Wealth PlatformSM, a single-infrastructure technology solution that
supports an end-to-end wealth management experience, including
custody services, model management and trading. The integration of
Oranj’s assets is expected to position SEI to provide an enhanced, digital
experience across every aspect of an advisor’s business, including the
full lifecycle of client engagement.
“From shifting investor expectations to a rapidly evolving technology
landscape, financial advisors are facing radical change. They have an
opportunity—and a responsibility—to build better financial futures
for their clients. We’re committed to helping empower advisors’
transformations by putting the tools in their hands for meaningful
client conversations,” said Head of Distribution and Engagement for
Independent Advisor Solutions. “We’re excited to add Oranj’s
intuitive technology platform to SEI’s suite of solutions. We believe
that bringing these valuable tools to our clients will enable advisors to
more dynamically engage with their clients and help build investors’
confidence in the impact their financial futures can make.”
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Fiserv (USA) to Streamline Delivery of Innovative Payment Solutions to
Merchants with Acquisition of Pineapple Payments
Fiserv, Inc. a leading global provider of payments and financial services
technology solutions, announced that it has signed a definitive agreement
to acquire Pineapple Payments and will continue to provide payment
processing services to Pineapple Payments merchants, while enhancing
its seamless delivery of an array of customer-focused, innovative
solutions. The acquisition will expand the reach of market-leading
payment solutions from Fiserv, including the CoPilot partner platform,
Clover® and Clover Connect, through the technology- and
relationship-led distribution channels of Pineapple Payments. Founded
in 2016, Pineapple Payments provides payment processing, proprietary
technology and omni-channel payment acceptance solutions for
integrated software vendors (ISVs) and small and medium businesses
(SMBs). The company currently serves more than 25,000 merchants.
“With Pineapple Payments already operating as a key distribution
partner of Fiserv, we expect to accelerate the delivery of new and
innovative capabilities to a host of new merchant clients,” said
President and Chief Executive Officer of Fiserv. “Together, we will
provide omni-channel payments technology and services to enable
merchants to maximize the potential of electronic payment
processing. We look forward to welcoming Pineapple Payments to
the Fiserv family and continuing to provide the best-in-class solutions
and service that merchants and their customers expect.”
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Solutions Updates

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CIT (USA) Provides Financing for North Las Vegas Logistics Campus
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Solution Description
CIT Group Inc. announced that its Real Estate Finance business provided financing for construction of a new
730,000-square-foot logistics center and campus in North Las Vegas, Nevada. Construction on the SunPoint West
facility is expected to begin in April and conclude in approximately 12 months. The campus is located near Interstate
15 in North Las Vegas, well-known as an attractive area for shipping and logistics centers. Real Estate Finance, part of
CIT's Commercial Finance division, originates and underwrites senior secured real estate transactions. With deep
market expertise, underwriting experience and industry relationships, the group provides financing for single
properties, property portfolios and loan portfolios.

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Intercontinental Exchange (USA): ICE Benchmark Administration Introduces
ICE SONIA Indexes to Assist UK Lending Markets Transition to SONIA
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Intercontinental Exchange, Inc. a leading operator of global exchanges and clearing houses and provider of mortgage technology,
data and listings services, announced that ICE Benchmark Administration Limited (“IBA”) has launched an initial, ‘beta’ version of
ICE SONIA Indexes for information and testing purposes. IBA has also published a methodology paper introducing the Indexes. The
ICE SONIA Indexes provide a daily value that represents accrued compound SONIA interest relative to the first day value of 100 on
April 23, 2018, the date when the Bank of England took over responsibility for SONIA. The ICE SONIA Indexes offer additional
optionality to add a floor and lookbacks. The Indexes have been developed to support the varying needs of the UK lending market
and are designed to provide a simple method for parties to calculate SONIA compound interest between any two index dates and
agree on their associated interest accruals. Indicative, ‘beta’ SONIA Index values are published on IBA’s ICE SONIA Indexes
webpage. The index values are currently published for information and testing purposes only and may not be used as a reference in
financial instruments. IBA expects to be able to launch the ICE SONIA Indexes for use in financial instruments from April 2021.

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Mastercard (USA) Working with Liberty Tax to Provide Access to
Economic Impact Payments and Tax Return Funds
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As Americans in need begin receiving Economic Impact Payments (EIP) via the U.S. Department of Treasury and Internal Revenue
Service (IRS), Mastercard is working with Liberty Tax to offer direct stimulus payments and tax return funds through prepaid cardholder
accounts, in turn improving equitable access to those who need it most. Qualifying new Liberty Tax customers will receive 30% off tax
prep fees, a $15 bonus, and an additional $15 credit when selecting the Netspend® Liberty Tax® Prepaid Mastercard® for the
disbursement of tax proceeds. In addition to Liberty Tax, Mastercard is working with partners to potentially enable the delivery of
Economic Impact Payments to millions of Americans who hold reloadable prepaid cards. Prepaid cards offer an array of benefits
extending far beyond providing more equitable access to EIP. These cards can be used for everyday needs and are especially beneficial
amid the pandemic as they enable people to shop online or, in many cases, provide them with a contactless option for in-person purchases.
All Mastercard prepaid cards include Mastercard ID Theft Protection™ powered by Generali Global Assistance, providing detection and
protection against identity theft, including monitoring, alerts, and expert resolution. Once an account is set up, individuals can also
arrange to use their Mastercard prepaid card to receive direct deposits from their employer and for future EIP payments and tax refunds.

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New Synchrony (USA) Consumer Finance Programs Add to Growing List
of NATDA Member Benefits
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The North American Trailer Dealers Association (NATDA) and Synchrony a premier consumer financial services company
and platinum sponsor of NATDA, announce a new NATDA membership benefit, bringing competitive and flexible consumer
finance options and financial incentives to dealerships in the trailer industry. This new membership benefit with NATDA will
allow more consumers to purchase new and used trailers and trailer equipment with flexible payment options. It will also
provide active dealer members, who are enrolled in the Synchrony program, access to certain incentives when consumers
choose Synchrony to help finance their trailer-related purchases. Enrolled NATDA members will gain access to Synchrony’s
innovative, mobile-responsive Business Center technology for enhanced 24/7 consumer credit decisions, contract
preparation, and a detailed business dashboard with reporting and analytics to help them manage their full consumer financing
experience. They will also have access to Synchrony’s Advertising Center, which provides dealers with customized in-store
and online marketing materials that can be used to promote financing options on their websites, social media and more.

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Voya Financial (USA) launches new decision-support tool to help American
workers optimize their health and wealth benefit selections
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Voya Financial, Inc. announced that it has launched a new version of its myHealthMoney digital assistant, which
provides sophisticated guidance to help workers make more informed decisions when selecting their workplace
benefits. Powered by SAVVI Financial, a leading technology-enabled financial wellness platform, the digital tool now
integrates employer-specific benefits and provides employees with a personalized recommendation on medical, dental,
vision and supplement health insurance, as well as contribution guidance for health savings accounts (HSAs) and
flexible savings accounts (FSAs). This enhanced version of the myHealthMoney tool is available to Voya’s workplace
clients and customers, as well as Voya’s own employees.

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Voya (USA) launches advisor managed accounts program
19
Voya Financial, Inc. announced the launch of its new advisor managed accounts advisory program in collaboration
with Morningstar Investment Management LLC. As one of the latest services within Voya’s suite of innovative
resources that support the financial wellness needs of all Americans, the new advisor managed accounts program
provides Registered Investment Advisors (RIAs) with the proper resources needed to distribute investment advice to
retirement plan participants through a consistent and scalable user experience. According to Voya research, when
thinking about their retirement, working individuals seek greater support and access to advice around saving and
investment decisions. The results of a new Voya survey show that more than three-quarters (76%) of working
Americans currently enrolled in a workplace retirement plan agree or strongly agree that they want access to a
professional whom they can call with questions and to make investment and savings decisions for them.

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Voya (USA) adds new Emergency Savings solution to its suite of financial
wellness support offerings
20
Voya Financial, Inc. announced a new strategic relationship with Millennium Trust Company, LLC (Millennium Trust) that will
provide the ability for Voya’s workplace clients to offer Emergency Savings fund solutions to their employees to help them save for
life’s unexpected events. The new offering will supplement other actions Voya and its clients are taking to help workers increase
emergency savings, including education, guidance and after-tax contributions as an “in-plan” solution within Voya-managed
retirement plans. Voya’s focus on emergency savings supports the company’s broader efforts to address the holistic financial wellness
needs of Americans and comes at a time when many are seeking opportunities to help build their retirement savings while also being
able to absorb short-term financial shocks and disruptions in income. The new emergency savings solution builds on Voya’s suite of
innovative resources that support the financial wellness needs of all Americans, with more features scheduled throughout 2021. This
includes: the recently launched budget calculator; Voya Learn digital educational platform; Voya’s financial wellness experience; and
myOrangeMoney® retirement income tool, which is helping millions of Americans change the way they manage and engage with
their retirement plan.

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Ameriprise Financial (USA) Achieves Brandon Hall Group Organizational
Excellence Certification for Learning and Development
21
Ameriprise Financial announced that it earned a Gold Organizational Excellence Certification for Learning and Development
from the research and advisory company Brandon Hall Group. The designation is the top level of achievement from Brandon
Hall Group and is given to a small number of companies for their best-in-class Learning and Development departments.
Ameriprise earned the Organizational Excellence designation following a rigorous certification process. To qualify for the
process a company must be the recipient of at least one award in the Brandon Hall Group Human Capital Management
Excellence Award Program, which honors organizations that have successfully deployed programs, strategies, processes,
systems, and tools with measurable results. The learning and development program at Ameriprise provides advisors and their
staff robust learning opportunities designed to help them grow professionally, operate optimally and serve their clients well.
Among the focus areas of the program include client service, technology, practice management, and leadership development.
Diversity and inclusion learning solutions are also available to advisors and staff to help them lead inclusively.
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CIT (USA) Wins 2021 FinTech Breakthrough Award for Business Lending
Point-of-Sale Platform
22
CIT Group Inc. announced that its Small Business Solutions group has been selected as winner of the "Business Lending Innovation
Award" for its point-of-sale lending platform in the fifth annual FinTech Breakthrough Awards program. The recognition was
awarded by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies
and products in the global FinTech market. Introduced as one of the market's first B2B digital lending solutions, CIT's point-of-sale
platform simplifies and accelerates financing for business purchases of $2,500 or more, providing convenience and speed for
qualified business customers. Since receiving a FinTech Breakthrough Award for "Best Small Business Lending Solution" in 2018,
CIT's point-of-sale platform has been upgraded with enhanced digital features that make the B2B digital lending and payment process
easier than ever. Next-generation API technology enables equipment and technology vendors to integrate the lending platform into
virtually any sales channel, including their existing B2B online e-commerce store. Vendors can be live with the platform in minutes
and are now empowered to provide real-time monthly payment quotes, get qualified customers approved, digitally design and select
finance terms (generally 12 to 60 months), and automatically send electronic documents to customers for review and e-signature.
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Discover (USA) Announced as 2021 CIO 100 Award Winner for Cloud Data
Fabric Platform
23
Discover Financial Services was selected as a 2021 CIO 100 award winner. For over 30 years, the CIO 100 awards
have recognized innovative organizations around the world that exemplify the highest level of strategic and operational
excellence in IT. The Cloud Data Fabric platform created an innovative approach to register our data assets with
enough metadata that it drove automation, resulting in saving a significant amount of engineering time compared to
previous techniques of ingesting data and securing sensitive data. This allowed Discover’s talented engineers to shift
their focus toward more challenging complex tasks that will improve our customers’ digital experience. The product
also resulted in faster adoption of next generation machine learning models, artificial intelligence, and accelerated
legacy transformation efforts.
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Fannie Mae (USA) Recognizes 31 Mortgage Servicing Partners for
Operational Excellence, Customer Value
24
Fannie Mae announced the 2020 Servicer Total Achievement and Rewards™ (STAR™) Program results, which
recognized 31 mortgage servicers for operational servicing excellence and customer value. Established in 2011, the
STAR Program awards assess Fannie Mae servicers based on three operational and performance areas: general
servicing, solution delivery, and timeline management. The STAR Program is a framework that measures servicer
competency, capacity, and overall performance. It is designed to help our servicers quickly identify opportunities for
improvement by comparing their performance relative to other servicers, and monitor progress and trends against key
indicators selected to reflect Fannie Mae’s current business objectives.
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Intercontinental Exchange (USA): ICE Futures Abu Dhabi Recognized as an
Overseas Investment Exchange by UK’s Financial Conduct Authority
25
Intercontinental Exchange, Inc. a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and
listings services, announced that ICE Futures Abu Dhabi, ICE’s new exchange in Abu Dhabi, has been recognized as an overseas investment
exchange by the UK’s Financial Conduct Authority. This recognition ensures that UK-based traders can access IFAD markets and trading in
ICE Murban Crude Oil Futures and 18 related cash settled derivatives and inter-commodity spreads launching on March 29, 2021. Alongside
the UK, investors from jurisdictions including Abu Dhabi Global Market, the United States, Singapore, Switzerland, the Netherlands, France,
Norway, Australia, Japan and South Korea, are able to trade on IFAD. ICE Futures Abu Dhabi has published a list of the jurisdictions where
it has obtained advice regarding permitting access to IFAD markets, which can be found here. Contracts traded on IFAD will be cleared at ICE
Clear Europe. The 26 approved Exchange Members, of which 19 are approved Clearing Members, are listed in full on IFAD’s Membership
page here. Clearing members will stand behind all trades made through IFAD and cleared by ICE Clear Europe, whether it is for the account
of a customer, member, or their own account. ICE is launching IFAD with the Abu Dhabi National Oil Company (ADNOC) and nine of the
world’s largest energy traders including BP, ENEOS, GS Caltex, INPEX, PetroChina, PTT, Shell, TOTSA (Total) and Vitol.
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Morgan Stanley’s (USA) Portfolio Risk Platform Wins Celent Model Wealth
Manager 2021 Award for Products and Platforms
26
Morgan Stanley announced that its Portfolio Risk Platform has won Celent’s Model Wealth Manager 2021 Award in the
Products and Platforms category, honored for best practices of technology usage in different areas critical to success in
wealth management. Celent, a global research and advisory firm for the financial services industry, recognizes financial
institutions as ‘model wealth managers’ for their outstanding technology initiatives. Celent’s Model Wealth Manager
Products and Platforms category recognizes new products and/or platforms for retail, high net worth and family office
clients, as well as innovation in their delivery. Morgan Stanley’s Portfolio Risk Platform and the risk analytics integrated
into their proprietary platform applications help its Financial Advisors leverage dynamic risk insights across thousands of
risk factors. Built in partnership with BlackRock and powered by Aladdin, Financial Advisors are able to instantly analyze
an entire book of business, including assets held away, which helps identify and mitigate risk in client portfolios.
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Schroders (UK) recognized for exceptional offshore equity fund in the South
Africa 2021 Morningstar Awards
27
Schroders has been named winner of the best global large-cap blend equity fund in South Africa at the 2021
Morningstar Awards, for their Schroder ISF Global Equity fund by independent investment research and ratings agency
Morningstar. This latest win recognises the fund’s ability to deliver the best value for investors throughout 2020,
despite the massive market challenges of the past year. The Morningstar Awards are designed to help investors around
the world identify the year's most exceptional funds and fund managers. Morningstar selected this year’s finalists using
a quantitative methodology with a qualitative overlay that considers the one, three and five-year performance history
of all eligible funds, announcing the winners via an online event. Fund manager of the Schroder ISF Global Equity
Fund and Head of Global and Thematic Equities, Alex Tedder explained that the fund has benefited from holdings in
what the team calls its core compounders.
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Fiserv (USA) Recognized for Real-time B2B Payments Innovation in
FinTech Breakthrough Awards
28
FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in
the global FinTech market, announced that Fiserv, Inc. a leading global provider of payments and financial services technology solutions,
has been named winner of the Best B2B Payments Product in the fifth annual FinTech Breakthrough Awards program. The winning
solution, Enterprise Payments: RTP from Fiserv, enables financial institutions to offer reliable real-time payments connectivity and
processing to support the fast-growing RTP® network from The Clearing House (TCH). Millions of transactions are already processed
on the RTP network each month, with consistent double-digit monthly growth as new use cases have been adopted. Corporate customers
of financial institutions utilizing Enterprise Payments: RTP benefit from faster, more accurate payments with greater visibility into their
accounts, and can initiate, track, and receive real-time payments from multiple existing channels. Customers can take advantage of early
payment discounts by planning exact payment times and receiving immediate confirmation of funds transfers. They can also reduce
billing disputes via Requests for Payment (RFPs), Requests for Information (RFIs) and the enhanced remittance messaging capabilities
of the RTP network, and reduce the potential for fraud and human error through automated data processing.
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Fiserv (USA) Named a World’s Most Innovative Company by Fast
Company
29
Fiserv a leading global provider of payments and financial services technology solutions, was recognized for its role in facilitating the
acceptance of online Electronic Benefits Transfer (EBT) payments in support of the United States Department of Agriculture’s (USDA)
Supplemental Nutrition Assistance Program (SNAP) Online Purchasing Pilot. The program scaled rapidly in 2020 to allow millions of
underserved Americans to buy groceries online for the first time. All EBT transactions, in-person or online, require the use of the
cardholder’s PIN to authenticate the transaction. Leveraging a proprietary PIN-on-glass solution that is part of Carat, an omnichannel
commerce ecosystem from Fiserv, grocers are able to create a digital PINpad within their digital commerce environment that allows EBT
cardholders to verify their transaction. In order to identify the World’s Most Innovative Companies, Fast Company’s editors and writers
sought out the most groundbreaking businesses across the globe and industries. They also judged nominations received through their
application process. The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly
anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic
sectors of the economy.
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Progress Bank and American Riviera Bank Select SEI (USA) for Managed
IT Services
30
SEI announced that Progress Bank and American Riviera Bank selected SEI IT Services to support their expanding
information technology (IT) infrastructure, including network operations and cybersecurity services. With more than 50
years of experience in delivering leading technology platforms and solutions to financial institutions globally, SEI is
extending its services to clients in a new business solution designed to optimize, monitor and protect clients’ enterprise
technology infrastructure. IT Services provides scalable and flexible IT solutions that are designed to be customized to a
client’s specific business model, supporting evolving operating models and short- and long-term growth expectations. A
regional leader in the market, Progress Bank is a community bank with 11 branches and more than $1.6 billion in total
assets. Progress Bank also extended its IT solutions to Progress Financial Services, which has six locations and more than
$1 billion in total assets. American Riviera is headquartered in Santa Barbara, CA and has five branches and over $900
million in total assets.
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Western Dental selects Voya (USA) as service provider for its 401(k)
Retirement Savings Plan
31
Voya Financial, Inc. announced that it has been selected as the new recordkeeper and service provider for the Western Dental
Services, Inc., 401(k) Retirement Savings Plan. Western Dental & Orthodontics is a chain of dental offices based in Orange,
California, with affiliates operating in more than 300 dental offices in Alabama, Arizona, California, Nevada and Texas. The
Western Dental Services, Inc., 401(k) Plan, which will transition to Voya in April 2021, represents $95 million in assets under
administration and serves approximately 6,000 eligible participants. As part of its commitment to advancing a secure financial
future for all individuals, Voya will provide plan members with access to industry-leading educational tools and resources,
including Voya’s myOrangeMoney® participant website and retirement-income-estimating capabilities. Participants of the
Western Dental 401(k) plan will also have access to the Voya Retire mobile application, which provides access to one’s
retirement savings account, including their unique, personalized myOrangeMoney experience.
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Citizens Bank & Trust Embraces Real-Time Banking with Move to Fiserv
(USA)
32
Fiserv, Inc. a leading global provider of financial services technology solutions, announced that Citizens Bank & Trust,
headquartered in Alabama, will enhance its digital banking experience and drive commercial and retail growth with
technology from Fiserv. Citizens Bank & Trust has over $700 million in assets, and was growing beyond the capabilities of
its previous core processing system. The community bank selected the DNA® core processing platform from Fiserv, and will
use its real time processing capabilities, robust digital ecosystem and ability to easily integrate third party applications to drive
a new phase of growth. Additionally, the bank will also implement solutions for digital banking, electronic bill payments,
person-to-person payments, and AI-driven voice banking. DNA is a modern core account processing platform with an open
architecture that makes it easier for financial institutions to integrate other solutions, bring products and services online
quickly, and add new capabilities easily. DNA also provides real-time performance by executing and storing account
transactions as they occur.
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SDB bank Enhances Operational Efficiency and Continuity through
Expanded Fiserv (USA) Relationship
33
SDB bank has expanded its long-term relationship with Fiserv, Inc. a leading global provider of payments and financial services technology solutions,
upgrading its core banking platform and teller solutions and reinforcing its commitment to financial inclusion and micro, small and medium enterprises
(MSMEs) through the delivery of an enhanced customer-first banking experience. Known for the unique savings and wealth creation initiatives
provided to a sizeable MSME customer base, SDB bank has prioritized enabling its customers to connect with cutting edge digital solutions. Fiserv has
been supporting SDB bank since 2010, when the bank initially implemented transaction processing and branch teller functionality on the Signature
platform from Fiserv, moving to a modern and flexible account processing solution. SDB bank is incorporating the unique features of the Fiserv core
banking platform to enhance its trailblazing digital banking and operational capabilities. The enhancements are also expected to augment the capacity
of the bank’s digital footprint, driving greater engagement across sectors and a diversified customer base. The latest Signature core banking platform
offers multicurrency and multi-entity features that support complex financial environments for all channels including tellers, branches, internet banking,
mobile banking, ATMs, point-of-sale (POS) and back office. The modern micro services layer provides API-enabled integration capabilities with
external applications in a flexible and efficient manner, helping accelerate the roll out of new products to the market. And the solution framework allows
continuous deployment of new functionalities while the system is still online, minimizing the need and impact of a full system upgrade.
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Aon (UK) and Praedicat to Address Insurers’ Emerging Risks in Casualty
Sector with Specialist Solutions
34
Aon plc a leading global professional services firm providing a broad range of risk, retirement and health solutions,
announces a new collaboration to develop a range of specialist liability reinsurance solutions that address product
liability risks including nanomaterials and 5G. Aon and Praedicat, a leading liability emerging risk analytics company,
will develop “named peril” products for insurers, helping them to transfer emerging liability risks to reinsurers and the
capital markets. The collaboration aims to address reinsurance coverage gaps arising from emerging risks, and to
encourage the development of a robust casualty catastrophe market that could offer new and diversified exposures to
the reinsurance and insurance-linked securities sectors. The collaboration will target the general liability and directors’
& officers’ (D&O) market for both current year and historical policy year exposure, to provide clients with tailored
solutions.
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Bass Pro Shops, Cabela’s and Capital One (USA) Extend Partnership
35
Bass Pro Shops and Cabela’s and Capital One announced a multi-year extension of their CLUB credit card program agreement.
The extension allows the companies to continue their strategic partnership, with Capital One delivering industry-leading digital
capabilities and award-winning products and experiences to millions of passionate Bass Pro Shops’ and Cabela’s customers. The
extended partnership will continue to help fuel CLUB members’ love of the outdoors while advancing key conservation
initiatives thanks to an annual $1 million donation by Capital One to the Johnny Morris Conservation Foundation. Capital One’s
donation will help fund one of the most meaningful aspects of the Johnny Morris Conservation Foundation: its commitment to
connecting children to the great outdoors by removing barriers to entry. At a time when society is increasingly disconnected from
the great outdoors, the Foundation brings together an alliance of more than 200 million passionate customers, team members,
industry partners — including Capital One — and leading conservation organizations to help more kids fall in love with nature.
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CME Group (USA): EBS Collaborates with TORA to Provide Improved FX
Liquidity for Multi-Asset Hedge Fund and Buy-Side Community
36
EBS, the leading global provider of electronic trading platforms and technology services in foreign exchange markets,
announced a collaboration with TORA, provider of the industry's most advanced cloud-based, multi-asset order and
execution management system (OEMS), to link EBS Market and EBS Direct's FX liquidity with TORA's multi-asset
platform. Market participants will be able to connect directly to EBS via TORA, enabling them to view prices for all
spot FX, forwards, swaps and NDFs traded on EBS Market and EBS Direct side-by-side, along with prices for CME
Group FX futures and other asset classes on one platform. TORA OEMS has straightforward configuration
functionality and on-the-ground support for fund trading activities. It is a global multi-asset, multi-region, order
execution management system and portfolio management system that is compliant with MiFID II. The platform also
provides advanced total cost analysis, reports, compliance management and has a broker-neutral pairs application.
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Discover (USA) Announces Alliance with Malaysia’s PayNet to Expand
Worldwide Acceptance
37
Discover, a leading digital bank and payments company, and Payments Network Malaysia Sdn Bhd (PayNet), the national payments
network and shared central infrastructure for payment services in Malaysia, have signed an agreement that will greatly expand
acceptance for Discover, Diners Club International and network alliance cardholders in Malaysia. The agreement complements
Discover’s strategy of growing acceptance in Asia Pacific to support existing partners in countries such as Singapore, India, China
and Japan by potentially opening acceptance at 10,000 ATM locations and more than 570,000 point-of-sale terminals throughout
Malaysia. Discover has seen continued acceptance growth in the Asia Pacific region over the past few years with recent partnerships
in China, Taiwan, Hong Kong, Cambodia, Vietnam and New Zealand, adding to multiple already established relationships. This
resulted in acceptance in the region growing 14 percent in 2020. Discover Global Network has more than 50 million merchant
acceptance locations and 2 million ATM and cash access locations around the world. The Discover Global Network includes Discover
Network, Diners Club International, PULSE and more than 20 alliance partner networks across the globe.
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Macquarie (Australia) Capital and AVAIO Capital partner on Development of
Antwerp Desalination Plant
38
AVAIO Capital is pleased to announce that Macquarie Capital has joined AVAIO as a partner in finalizing the development
and construction of a new desalination facility in Belgium’s Port of Antwerp. As an environmentally sustainable water source,
the project will serve to substantially improve the resiliency of the Antwerp region’s water supply. Approximately forty per
cent of the water sourced from the Albert Canal, the primary source of drinking water for the Antwerp region, is consumed by
the industrial sector, stressing the local water supply. The project aims to provide a sustainable source of lower-cost,
high-grade processing water for industrial customers - that reduces industrial use of the local community’s domestic water
supply, while simultaneously reducing the need for water treatment chemicals. Working closely with the Port of Antwerp and
its anchor customers - including Covestro and Evonik - AVAIO intends to apply for the core permits in 2021 and to commence
construction in 2022, with an online target of 2024. Macquarie Capital’s expertise in advancing early-stage infrastructure
projects will be applied to provide development capital for the project.
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ICC and Mastercard (USA) Partner to Deliver Common Consistent Digital
Health Pass Experience
39
The International Chamber of Commerce (ICC) and Mastercard will work with stakeholders from civil society, business, and government to create
an environment that encourages the development and proliferation of interoperable digital health pass solutions to accelerate the global recovery.
governments are mostly relying on a range of paper-based processes to determine the COVID-19 test results and vaccine status of travellers. In
many cases, these paper certificates can be easily falsified, are difficult to validate, and inconvenient for people to use. ICC and Mastercard believe
trusted technology should be at the heart of strategies for reopening societies and bringing travel back safely. To that end, both organisations will
partner to establish an enabling environment for interoperable digital solutions that reduce fraud and reinforce trust. ICC and Mastercard recognise
that time is of the essence and believe that no one digital solution, or provider, will be able to scale globally fast enough to address the global and
networked needs of the air travel industry. In the coming months, ICC and Mastercard will work with policymakers and business leaders to ensure
that governments have a range of compatible digital health pass solutions at their fingertips to bolster their recovery strategies and protect the
personal data of users everywhere. Through organisations such as the Good Health Pass Collaborative, this extends to the promotion of digital
standards for the management and exchange of COVID-19 test results and vaccine status, with a focus on the appropriate use of digital identity
services that foster trust.
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Synchrony (USA) and Ashley HomeStore Renew Consumer Financing
Program Agreement
40
Synchrony a premier consumer financial services company, and Ashley HomeStore, Ltd., the number one selling U.S. home furnishings company,
announced a multi-year extension of their consumer financing program agreement, which began in 2010. Synchrony offers Ashley HomeStore
customers competitive financing, subject to credit approval, for purchases made online or the nearly 500 Ashley HomeStores across the U.S.
Synchrony’s strong relationship with Ashley enables the company to manage the financing program at a national level while providing customized
financing solutions for independent Ashley HomeStore licensees. The solutions, including support in sales, marketing, data analytics, point of sale
technology, and training, are designed to empower Ashley HomeStore licensees to grow their business and expand customer loyalty. Synchrony’s
financing solutions enable Ashley HomeStores to meet their customers at the moments that matter most in their purchasing journey. Integrating
Synchrony’s offers throughout the consumer spending life cycle supports Ashley HomeStore’s omni-channel customer journey and experience.
Synchrony and Ashley HomeStore continually evaluate program enhancements. One solution they are considering is contactless commerce. The
pandemic has accelerated consumer demand for a touchless point of sale experience. Synchrony’s digital payment technology solutions enables
Ashley HomeStore customers to shop and apply for credit when, where, and how they want without touching cash, cards, or keypads.
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Schroders (UK) and the Social Business Trust announce new partnership to
scale-up valuable social enterprises
41
Schroders and the Social Business Trust (SBT) announce a new partnership to support high growth potential social
enterprises. Schroders’ Group Chief Executive, Peter Harrison will also join SBT’s Investment Committee. The Social
Business Trust was launched in 2010 with the mission of helping outstanding social enterprises scale their impact,
through support from leading corporate partners. Currently, SBT works with social enterprises that address social
problems, such as educational disadvantage, employability and social care. Since its inception, SBT has positively
impacted the lives of 2.7 million people. Schroders and SBT will work together to embed a skills-based volunteering
programme that will be available to Schroders’ UK employees. As a key business partner, Schroders will offer SBT
practical support on projects and activities that will have a meaningful impact on social enterprises’ sustainability and
growth.
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Brewin Dolphin Extends Long-term Strategic Partnership with SEI (USA)
42
SEI has announced it has extended its contract with leading UK wealth manager Brewin Dolphin for a further three
years. The new agreement will extend the current strategic partnership between the two firms until November 2023.
The re-contract builds on an existing strategic relationship that began in 2012, continuing to provide the SEI Wealth
PlatformSM (SWP) as an integrated wealth management infrastructure to a digital, consumer investing platform called
Brewin Portfolio Service (BPS). The re-contract reflects significant collaboration between SEI and Brewin Dolphin
over the last 12 months to enable the company to deliver an improved digital end-client experience for BPS clients by
integrating with SEI’s wide range of application programming interfaces and web services. SWP is part of SEI’s Global
Wealth Management Services business, comprised of market-leading, innovative solutions designed to support the
future growth of investment and wealth managers globally.
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Voya Foundation (USA) and Teach for America collaborate to diversify
America’s teaching workforce
43
Voya Financial, Inc. announced that Voya Foundation, the company’s giving arm — has entered into a collaborative effort with Teach For America to diversify
America’s educator workforce. The collaboration will:
• Support Teach For America’s recruitment initiatives on the campuses of historically Black colleges and universities (HBCUs);
• Place a strong focus on recruiting students majoring in Science, Technology, Engineering and Math (STEM) subjects; and
• Provide additional applicant support and engagement opportunities for undergraduates on HBCU campuses.
Racial diversity in our nation’s educator workforce face unique barriers. According to a 2018 US Department of Education survey, 79% of educators are Caucasian
and 76% of educators are female. This research also shows that students learn better when teachers mirror their own backgrounds — a phenomena that presents
particular challenges for Black and African American boys. This new collaborative effort will continue to support Teach For America’s work to bring diverse
educators into our schools. This collaborative effort is part of Voya Foundation’s signature program, Voya Teacher Voices. The program focuses on empowering
teachers to become leaders by promoting the teaching career, recognizing high-achieving educators, providing training opportunities and offering financial support
to achieve their goals. Additionally, this program, which will launch this year, will help drive Voya’s Diversity, Equity and Inclusion strategy as the company looks
to form further relationships with America’s classrooms that directly impact the financial capability and wellness of the Black and African American community.
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CME Group (USA) Foundation Awards Over $2.2 Million in Grants to Support
College and Career Success for Illinois Students
44
CME Group Foundation announced that it has awarded over $2.2 million in grants to further support higher education
and career initiatives across Chicago and Illinois. These grants include $700,000 to support CME Group Foundation
Scholars. The CME Group Foundation Scholarship Program was created for minority students majoring in finance and
computer science related majors within targeted universities. The scholarships will cover up to $20,000 for each
recipient for the 2021-22 school year, with potential for renewal for three years up to the 2024-25 school year. Funding
also includes $100,000 over two years to support Bottom Line, which partners with first-generation college students
from under-resourced communities to help them get into and through college and successfully launch a career, as well
as $100,000 over two years to support One Million Degrees, a holistic, wraparound support model dedicated to
accelerating community college students' progress on career pathways to economic mobility.
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Macquarie (Australia) Asset Management joins Net Zero Asset Managers
initiative
45
Following its pledge to invest and manage its portfolio in line with global net zero emissions by 2040, Macquarie Asset Management
has joined the Net Zero Asset Managers initiative to build on its commitment to climate change leadership. The Net Zero Asset
Managers initiative comprises a group of 73 international asset managers, representing $US32 trillion of assets under management,
supporting the goal of net zero greenhouse gas emissions by 2050 or sooner. The initiative is designed to mobilise the investment
community to help in the fight against climate change. Macquarie Asset Management’s participation will enable it to partner with
other leading investors to learn how it can enhance the implementation of its net zero strategy, share best practice, and drive more
coordinated action to deliver the goals of the Paris Agreement. The Net Zero Asset Managers initiative outlines a range of actions for
asset managers to help accelerate the transition to net zero and drive positive change on behalf of their clients. The initiative provides
a framework for members to enhance engagement with clients, set targets for assets to be managed in line with net zero pathways,
strengthen corporate engagement and stewardship, and advocate on climate and environmental policy.
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Schroders (UK) reinforces its commitment to achieving net-zero with
science-based targets
46
Schroders is proud to confirm that it has joined the Business Ambition for 1.5°C, and has committed to the Science
Based Targets initiative (SBTi), recognising the urgency of the climate crisis. This initiative calls companies to align
their business models with the aim, set out in the Paris Agreement, to limit global warming to 1.5°C, alongside setting
science-based targets in line with the criteria and recommendations of the SBTi. Targets are considered ‘science-based’
if they are in line with the level of decarbonization required to keep global temperature increase below 2°C compared
to pre-industrial temperatures, as described in the Fifth Assessment Report of the Intergovernmental Panel on Climate
Change (IPCC AR5). To achieve this, Schroders will ensure that its low-carbon transformation is closely aligned with
climate science. It will lay out a trajectory of short to medium term science-based targets that will define Schroders’
longer-term roadmap towards achieving the goal of net-zero emissions by 2050 or sooner.
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Greater Washington Community Foundation Hires SEI (USA) as Outsourced
Chief Investment Officer for $197 Million Investment Pool
47
SEI announced the company has been hired by the Greater Washington Community Foundation (The Community Foundation) to serve
as outsourced chief investment officer (OCIO) for approximately $197 million of the foundation’s assets. Through this strategic
partnership, SEI will provide discretionary investment management services, including manager selection and oversight, as well as help
The Community Foundation’s Investment Committee in strengthening the overall stewardship of the foundation’s assets. SEI provides
investment management services to more than 460 global institutional investors, including over 175 non-profit organizations,
representing $32 billion in assets. The Community Foundation Investment Committee is the trusted steward of over $300 million in
charitable funds. SEI will act as OCIO in managing $197 million of the assets in The Community Foundation’s Combined Investment
Fund, while also providing oversight and integration of data and reporting across all investments, and support around marketing and
donor communications. The two organizations will work together to regularly review and consider asset allocations that make the most
sense for The Community Foundation’s long-term goals. This includes the ongoing consideration and implementation of a variety of new
asset classes, as well as incorporating social, environmental and diversity-related considerations across the portfolio.
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AMG (USA) Expands Commitment to Affiliate Growth through Strategic
Evolution of U.S. Wealth Platform
48
AMG Funds LLC, the U.S. wealth distribution arm of Affiliated Managers Group, Inc. announced that as part of AMG’s overall repositioning of distribution
capabilities for the benefit of its Affiliate partner firms and their clients, AMG is supporting a series of enhancements to its U.S. wealth platform, which will
now offer a unique array of high-quality funds managed exclusively by AMG Affiliates. AMG has always provided a single point of access to
industry-leading strategies managed by its world-class, independent partner-owned Affiliate firms, which have strong and long-tenured teams supported by
stable business platforms. Today, by moving to a lineup entirely sub-advised by AMG Affiliates, clients will benefit from a streamlined platform wholly
focused on AMG Affiliates’high-conviction investment offerings, including fee reductions across all the strategies involved in the transition. As part of these
enhancements, AMG Funds will offer Affiliate strategies previously unavailable to the U.S. wealth market, as well as provide additional differentiated
investment solutions by repositioning select funds. In addition to the Affiliates currently represented, AMG’s platform will offer highly differentiated
strategies that reflect evolving client demand trends, such as Boston Common’s Global Impact Fund, and strategies previously unavailable in the U.S. retail
market, including Veritas’ Asia Pacific Fund and China Fund. These Affiliates join existing Affiliates on the platform, such as Pantheon, a leading global
private equity fund investor; Yacktman, a highly regarded concentrated value-oriented equity manager; GW&K, a well-respected active equity and fixed
income manager; and leading global equities manager Harding Loevner, for which AMG distributes a number of their strategies.
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Deutsche Boerse (Germany): Eurex and Korea Exchange expand long-standing
cooperation with further Futures
49
Eurex and Korea Exchange, KRX, are further expanding the range of products accessible via their joint link. Eurex will
list futures on the Korean benchmark index KOSPI 200. The new product listing emphasizes once again the partner
exchanges’ commitment to connecting markets globally. Eurex is the only venue that offers international investors
access to the Korean market outside Korean trading hours. Overnight KOSPI 200 Options and Mini-KOSPI 200
Futures have been listed on Eurex since 2010 and 2016, respectively. The launch is of high strategic importance for
KRX and Eurex. KOSPI 200 Options are among the four most heavily exchange traded index contracts globally. The
opportunity to trade these options on one platform, together with KOSPI 200 Futures, allows for better exposure to and
hedging of the Korean derivatives market.
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Nomura (Japan) Leads Woven Planet Bond Offering by Toyota
50
Nomura Securities Co. Ltd., a wholly owned subsidiary of Nomura Holdings, Inc., announced that it has priced a
Woven Planet Bond offering by Toyota Motor Corporation (TMC). Nomura acted as bookrunner and lead manager on
yen-denominated bonds targeting institutional investors and lead manager on yen-denominated bonds for individual
investors. Toyota intends to use the proceeds from the offering for its wide range of SDG-related initiatives. With the
automobile industry entering a once-in-a-century period of transformation, TMC is taking advantage of this
opportunity to transform itself from an automobile manufacturing company into a mobility company. Through its
efforts to evolve, TMC hopes to provide society with greater value and contribute to the achievement of the SDGs
through its business activities. In addition to initiatives to resolve social issues related to safety and the environment,
TMC has been advancing initiatives to build a mobility society for the future. Through the Woven Planet Bond
offering, TMC will raise the funds necessary for such initiatives and accelerate its SDG initiatives.
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Nomura (USA) to Establish Investment Management Division
51
Nomura Holdings, Inc. announced that it plans to establish a new Investment Management Division, effective April 1,
2021. The Investment Management Division will handle the firm's asset management business, and will be charged with
enhancing the lineup of products and services Nomura offers in order to respond to the increasingly diversified needs of
clients. The new division will comprise investment and asset management related Nomura Group companies, including
Nomura Asset Management. Nomura's expertise ranges from traditional assets such as stocks and bonds to alternative
assets such as private equity. By bringing together expertise from across the firm and creating added value, Nomura aims
to further develop the asset management business and deliver services and solutions to meet clients' diverse needs. The
Investment Management Division will replace the Asset Management Division and Merchant Banking Division. Effective
April 1, 2021, Nomura will have three business divisions: Retail, Wholesale and Investment Management.
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PayPal India launches Unity Bloom with WSquare; re-iterates commitment
towards increasing diversity in the technology sector
52
PayPal, a global leader in digital payments announced the launch of Unity Bloom, a five -month training and
mentorship program for 500 women students from across leading engineering colleges in India. Unity is PayPal’s
employee resource group which focusses on enabling a truly diverse culture and workforce within the company and
technology sector. For the first phase of the programme, PayPal has partnered with WSquare. The program will include
technical certification courses, live mentor sessions with industry leaders followed by an online hackathon. At the end
of the programme, participants will be given an opportunity to apply for a job at PayPal and will also be given
internship opportunities.
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