Webuild’s CFO Massimo Ferrari Speaks about High-Speed US Rail Contract to Boost Cash Flow

Webuild has recently won a contract to build a high-speed railway between the US cities of Dallas and Houston that could give a significant lift to cash generation as early as 2022. Webuild, in a recent announcement, said that it and its US unit Lane Construction had signed the final agreement for a considerable sum of $16 billion contracts with Texas Central LCC to build the high-speed link.

Chief Financial Officer Massimo Ferrari said that the company expects a boost in terms of marginality. He further added that this project would be a crucial turning point for the Webuild's transformation. This new contract will bring the value of construction orders in Webuild's backlog from the United States to 35 percent, which will be the country as the single biggest market for the group.

Mr. Ferrari also said that the group had projects in the water and transportation sectors in the pipeline in the US; this experience would push them to win more high-speed train contracts in the country. The company will be using innovative technologies and will be completing the project within the next five years.

 

Moneta Appoints Aoifinn Devitt to Become the First Female CIO to Manage the Firm’s Portfolio

Moneta Group Investment Advisors has appointed Aoifinn Devitt as its new Chief Information Officer (CIO). With this move, Ms. Devitt becomes the first female CIO to look after the company's registered investment adviser (RIA)'s worth $27.4 billion in assets under management (AUM). The Missouri-based investment company is also expanding to Chicago, on which Devitt will be working.

Prior to joining Moneta, Devitt served at Federated Hermes, where she was head of investment for Ireland and played a crucial role in developing investment management oversight processes for Hermes Fund Managers Ireland Limited. She was also the CIO of the $2.6 billion Policemen's Annuity and Benefit Fund of Chicago. She also founded Clontarf Capital, which is pan-alternatives research and consulting firm.

"I don't believe in dictating strategies, and I will not be excluding anything. I am excited to bring my alternative expertise," Devitt said. She also said that her primary priority going into the job would be to make sure that the portfolio is resilient against rising inflation. And she will be predominantly be focusing on good governance, ensuring a company does right by employees.

 

JPMorgan to buy digital wealth management platform Nutmeg

JPMorgan today has announced that it has agreed to buy British online wealth manager Nutmeg for an undisclosed sum. The US banking giant stated that the deal is still subject to regulatory approval and it will complement the launch of JPMorgan's standalone digital bank brand in the UK later this year. Besides, with more than £3.5 billion ($4.9 billion) in assets, Nutmeg is one of the UK's largest robo advisors.

Nutmeg offers a range of investment accounts, including ISAs, pensions, and general investment accounts. Nutmeg expects the same level of transparency, convenience, and service that helped make them a leading digital wealth manager in the UK with this new deal. Both companies are looking to position their products among the award-winning ones and continue to support their innovative work in retail wealth management, and become a global leader in this sector.

JPMorgan Securities acted as JPMorgan's financial advisor for the transaction, whereas Freshfields Bruckhaus Deringer was the legal counsel. Arma Partners was a financial advisor, and Taylor Wessing was legal counsel for Nutmeg. JPMorgan did not disclose the deal amount.

 

HSBC USA Expands its Sustainable Finance Offering for Commercial Banking Clients

HSBC Bank USA, a part of the HSBC Group, has announced that it is offering Sustainability-Linked Loans (SLL), enabling US businesses to tie their borrowing to activities that will primarily support a more sustainable, resilient, and prosperous world. The SLLs are available in a variety of corporate loans and credit facilities, with various terms linked to pre-determined sustainability performance targets (SPTs).

In partnership with clients, HSBC structures SLLs concerning the Sustainability Linked Loan Principles, which are voluntary global guidelines set by the independent Loan Market Associations, whereby SPTs are meaningful and ambitious for organizations' business and performance verified and reported regularly. Besides, SPTs include greenhouse gas emissions reduction; renewable energy use, reduced water use, and diversity metrics like increased workforce diversity.

HSBC Group has also announced a net-zero strategy to align its provision of finance with the most renowned Paris Agreement, with a goal of providing net zero by 2050. HSBC also has launched Business Plan for the Planet, a global campaign to build further awareness of the importance of a net-zero economy and to show the world how HSBC can empower businesses to help organizations make a low-carbon transition.

 

 

Digital marketing firm Gozoop Group successfully acquires Stratton Communications

Gozoop Group, an independent digital marketing firm, which offers services such as brand consultancy, social media marketing, influencer marketing, design, and online reputation management to advertisers in a recent press meet, has announced that it has completed the acquisition of a digital agency, Stratton Communications. Stratton will be rebranded as Sm(all); the firm will focus more on challenger brands within the group and will be aiming to expand its market to its target audience.

The company has stated that Sm(all) will provide a strategic advantage to think, act, and evolve like a lean startup at scale. It will operate as an independent agency that will help advertisers achieve a new set of audience engagement through its innovative digital marketing campaigns that are primarily on short-form content platforms.

Sm(all) works with the various brand across different categories such as pharmaceutical company Cipla, hospitality chain Chalet Hotels, real estate firm SILA Group, Opium Eyewear, and Mattel Toys. The company will work to improve its marketing and advertising business by highlighting the need for a hybrid digital media company, and the agency will aim to fulfill all the marketing needs of its clients.