Chemring has appointed Steve Bowers as group finance director (FD). He will take up his position with the UK company, which provides technology and electronics to the aerospace and defence industries, on 7 January, replacing Nigel Young who was appointed as interim chief financial officer (CFO) in July 2012.
Bowers was previously FD at Umeco, also an aerospace and defence supplier, for 13 years until it was purchased last July by Cytec UK Holdings. He qualified as a chartered accountant while working for KPMG.
His appointment follows the arrival in November of Mark Papworth as chief executive officer (CEO) of Chemring, who has initiated a strategic review. A recovery plan is expected to be issued later this month. US private equity group Carlyle recently decided against bidding for the group, which issued two profits warnings last year.
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.