Apollo Global Management named Martin Kelly, Barclays Capital’s Americas chief financial officer (CFO), as its next CFO. Kelly will succeed Gene Donnelly, who has resigned to pursue other interests, no later than 1 October according to a statement issued by the private equity firm.
Apollo added that Donnelly will remain with the firm for a transition period until mid-August and will continue to the end of the year in his role of senior adviser.
Kelly worked in several roles at Lehman Brothers and Barclays between 2000 and 2012, including overseeing finance and controls of the equities, investment banking and fixed income businesses. In March 2009, he was appointed CFO of the Americas by Barclays Capital and in October 2011 appointed global head of financial control for Barclays’ corporate and investment bank. Previously he was with PricewaterhouseCoopers (PwC) for 13 years.
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.