Universal Music Group (UMG) has appointed Joseph Schmidt as chief financial officer (CFO) for its East Coast Labels division, which includes The Island Def Jam Music Group and Universal Republic Records.
Schmidt was previously with Sony Music for more than 15 years and most recently served as vice president, finance for RCA Records. He will now report to Ivan Gavin, East Coast Labels’ chief operating officer (COO) and will manage the finance staffs of Island Def Jam and Universal Republic, with be responsibility for overseeing financial functions, including planning, forecasting, reporting and deal analysis.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
The EU and US’ shift in accounting standards may bring balance sheet losses and increase credit risk, according to James Elder, director of risk services at Standard & Poor’s (S&P) Global.