Richard Beales joined Breakingviews in 2007 from the Financial Times, where he was U.S. markets editor and a Lex columnist. Prior to the FT, he spent more than 10 years as an investment banker at Schroders and Citigroup, based largely in Hong Kong and working on project finance, mergers and acquisitions. He has also lived in Sydney, Australia, and began his working life in London at Mars & Co, a management consultancy. Richard holds a masters in business journalism from New York University and a degree in biochemistry from St John’s College, Cambridge.
After a long 12-year investment in the payment processor, a sale to Fiserv sets the stage for a profitable exit. It’s a wonder the $29 bln buyout survived the financial crisis, considering the debt and multiple CEOs. Anything better than breaking even amounts to a win.
The latest top-level promotion suggests a Mark or a Rob will succeed boss Larry Fink. The $6 trln asset manager aims to have women in 30 pct of its most senior jobs by 2020. For now, it’s falling far short of that. It’s a case where good stewardship best starts at home.
Want to know whether there’s going to be a U.S. recession, a trade-war flare-up, or corporate implosions? You could obsess over news and social media – or skim a few proxy indicators like the price of soybeans, the Treasury yield curve, and the number of stocks in bear territory.