The Timken Company has promoted Kevin Beck to assistant treasurer for corporate treasury and also named Paul Locke as controller for aerospace and defence.
The US company, which specialises in innovative friction management and mechanical power transmission products and services to help machinery perform more efficiently, said that Beck will be responsible for global cash management, bank relationships and currency risk management. He reports to Chris Holding, senior vice president (SVP) of tax and treasury.
Beck joined Timken in 1998 as senior financial analyst. Since then he has held various positions in finance and investor relations. Beck most recently served as controller for aerospace and defence. Beck earned a Bachelor’s degree in Marketing and Business Administration from the University of Akron, and a Master’s degree in Accounting from The University of Toledo.
In his new position of controller for aerospace and defence, Locke reports to Erik Paulhardt, vice president for aerospace and defence. Locke most recently served as assistant controller for mobile industries. His previous positions include front-end controller for light vehicle systems, manager of business economics and controller of the Lincolnton, North Carolina plant. He has a Bachelor’s degree in Accounting from Delta State University in Cleveland, Missouri.
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
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.