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READY CAPITAL ANNOUNCES ACQUISITION OF RED STONE
Ready Capital Corporation (NYSE: RC) (“Ready Capital”), a multi-strategy real estate finance company that originates, acquires, finances and services commercial loans, today announced its acquisition of Red Stone and its affiliates (“Red Stone”). Red Stone is a real estate finance and investment company that provides innovative financial products and services to the multifamily affordable housing industry. Red Stone’s management team, led by John Sokolovic, and all employees have joined Ready Capital. The acquisition will further diversify Ready Capital’s business and represents its commitment to affordable housing.
“Affordable housing finance presents a significant growth opportunity that will benefit our shareholders by expanding our presence in a sector with low correlation to our other businesses,” said Tom Capasse, Chairman and Chief Executive Officer of Ready Capital. “Moreover, the team at Red Stone has enormous talent and we look forward to building on their success collaboratively in the future.”
MERIT FINANCIAL ADVISORS ACQUIRES CONSILIUM FINANCIAL GROUP
Merit Financial Advisors (“Merit”), a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions for high-net-worth individuals and families and those navigating life transitions, has acquired Consilium Financial Group (“Consilium”). The acquisition expands Merit’s presence in its headquarters of Atlanta and enhances the firm’s financial planning capabilities.
Consilium is a comprehensive financial planning and wealth management firm based in Roswell, Georgia. Founded by Kirk Wilkerson, CIMA®, CFF, and Andy Lubben, CFP®, the firm provides risk management, tax planning, estate planning and investment services for high-net-worth individuals and families. Consilium first aligned with Merit in 2015 through its Independent Advisor Partner Program, integrating with the firm’s investment offerings and operational support. The acquisition allows Consilium team members and clients to access Merit’s full suite of services, resources and solutions. The entire Consilium staff will join Merit, with Wilkerson and Lubben each assuming the role of Regional Director. The firm manages $291 million in client assets.
PENTADATA ANNOUNCES OPEN FINANCE INTEGRATION WITH AKOYA
Pentadata Inc., leading the industry with the first fully secured API-based financial data platform, today announced it has signed an agreement to use the Akoya Data Access Network. Known for supporting data developers with building fintech apps, rewards, cash-back, and card-linking programs, Pentadata has partnered with Akoya, a new network offering API-based, permissioned access to consumer financial data.
With Pentadata, developers can safely and securely access fully-permissioned financial data from consumer bank accounts and credit cards. The API integration with Akoya gives Pentadata even greater access to high-quality and consistent financial data to help application developers and fintech companies build apps in a secure way.
UBER SHARES DROP AS SOFTBANK PLANS TO SELL ONE-THIRD OF ITS STAKE
SoftBank has seen total losses of around $4 billion on its Didi position and has also suffered from a decline in the valuation of Alibaba. Uber’s own Didi stake saw a $2 billion decline last week following the June debut of Didi’s American depositary shares as China’s officials planned fines against Didi amid a wider crackdown on US-listed Chinese companies.
FBX OF INFORMA FINANCIAL INTELLIGENCE AND NOVANTAS ANNOUNCE NAME OF NEW BUSINESS
FBX, an Informa Financial Intelligence business, alongside Novantas, announced today the name of their combined business—Curinos—a new entity equipping financial institutions with expanded data sets, intelligent technologies and market expertise that empower clients to make more profitable, data-driven decisions faster.
Curinos is the newest subsidiary of Informa plc (LSE: INF), resulting from the combination of its Financial Benchmarking & Omnichannel Experience (FBX) business with Novantas, Inc., a preeminent fintech provider of advanced decision support systems and data to the banking industry.
BUMPED LAUNCHES ‘GRAHAM’, THEIR NEW FINANCIAL SERVICES API SUITE
Today Bumped—the fintech company on a mission to create an ownership economy through a simple but powerful entry point to investing — announced the release of its newest product set. The ‘Graham’ is a suite of APIs designed for financial services organizations to bring stock rewards directly to their customers.
The release of the ‘Graham’ Financial Services API Suite enables bank customers and financial partners to unlock the power of stock rewards and Bumped’s proprietary technology stack to bring an exciting, innovative new reward to their customers. Bumped launched in 2017 and has rewarded over 2.4 million stock rewards to customers to-date.
MORRISONS’ SHARE PRICES JUMP 30% AS IT REJECTS £5.5 BILLION OFFER
Morrisons is preparing for takeover negotiations following its rejection of a £5.5 billion ($7.6 billion) bid from Clayton Dubilier & Rice (CD&R) at the weekend.
WEATHERING THE COVID STORM: WHY THE UAE IS LOOKING INCREASINGLY BETTER FOR POTENTIAL INVESTORS
The investment landscape has, for the past year, been characterised by uncertainty. It does not take a degree in economics to recognise that global pandemics, and their associated social restrictions, do not cultivate a desire for reckless speculation or needless risk-taking. It is doubtless for this reason that, according to a recent report from the United Nations Conference on Trade and Development, global foreign direct investment (FDI) suffered a total collapse during the course of 2020. The fall of 42% took total FDI from $1.5 trillion in 2019 to approximately $859 billion.