Southwest Airlines has announced that chief financial officer (CFO) Laura Wright will retire on 20 September after 25 years with the company. Wright has won plaudits as the architect of the Dallas-based airline’s strong balance sheet and successful fuel-hedging strategies.
Southwest, the largest discount airline in the US, said that Tammy Romo, currently senior vice president (SVP) of planning, will succeed Wright and that the move that was foreseen in the company’s planning. The company added that Romo was an audit manager at Coopers & Lybrand before joining Southwest in 1991 in a financial-reporting role. She held several financial posts at Southwest before moving to the planning job in early 2010 and as CFO she will continue to lead strategic planning.
Wright was appointed CFO in 2004, making her one of the most powerful and long-tenured women in airline financial circles. Southwest is the only US carrier with an investment-grade credit rating and a decades-long history of profitability.
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.