| December 19, 2016 | "Irreverent, but never irrelevant" | | |  | John Lothian
Publisher
John Lothian News | |
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The big events that shook financial markets in 2016; Brexit, Trump and oil among the key contributors to a tumultuous year
by: Michael Mackenzie and Joe Murtagh - FT
A series of big events shaped financial markets in 2016. Here is a selection of FT analyses and commentary, alongside charts, highlighting a tumultuous year.
/goo.gl/sF6vna
***** Get ready for the year-end review stories.
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Celebrating the 15th anniversary and a new name
SIX News
SIX Swiss Exchange hosted the celebration of 100 Women in Hedge Funds and the announcement of its new appearance as 100 Women in Finance.
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*****Trivia question: How many women are members of 100 Women in Finance?
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Rex Tillerson's merit badges are for scouts and CEOs; A world increasingly wary of cash bonuses should not dismiss non-monetary rewards
by: Andrew Hill
"Once you're an Eagle Scout, you're always an Eagle Scout," says Rex Tillerson, Donald Trump's nominee for US secretary of state, ExxonMobil chief executive and proud holder of the scouting movement's highest rank. "If you need a template for a business practices policy, a business conduct policy, start with scout law," he advised in a 2014 talk about leadership lessons of the scouting experience.
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**** This is really a story about gamification and its use in innovation and employee engagement.
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Napoleon Is Dead! Wait. That's a Stock-Market Scam.
Barry Ritholtz - Bloomberg
The news media have been abuzz for a few weeks about the proliferation and effect of fake news. Facebook Inc. is changing how it handles news from dubious sources, while Twitter Inc. is rethinking how to respond to bots promoting fabricated articles. Alphabet Inc. (Google) has rejiggered its algorithms to fight phony stories. All of which raises some very interesting questions for investors and traders.
/goo.gl/4Y0Qrl
***** I wrote this story, Gorbachev is Dead! Fake News is Nothing New To The Markets on December 9th. My commentary was dealing with fake news is like playing "Who Wants to be a Millionaire."
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Philip Stafford, Financial Times - "The Most Valuable Commodity I Know of is Information"
MarketsWikiEducation.com
"A market without information doesn't trade, doesn't move anywhere. It's illiquid. Nothing happens and everybody goes away  [that's] the last thing anyone wants. So information ends up being the most critical thing of all."
Philip Stafford of the Financial Times is both an insider and an outsider in the financial world. He does not make markets, code risk management software or hawk new share offerings to prospective clients. On the other hand, he speaks with people from all corners of the the financial universe, from exchange executives to government policymakers, and does trade in that one commodity that Gordon Gekko values most  information.
Stafford notes that while information is powerful, how to disseminate and describe it is of just as much import. Markets are chaotic, confusing mechanisms, and it is in the interest of many market participants who are in the know to maintain that perception. If only a handful of people understand some corner of the Chinese rebar futures market, then it is in their best interest to keep it that way. Otherwise, they risk diluting the value of their skillset.
Besides analyzing the role of information in markets in this MarketsWiki Education video, Stafford touches on a variety of topics from how to deal with inquisitive journalists to methods for discovering your true interests.
Watch the video »
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Four Years of Living Dangerously: CEOs Brace for the Trump Era
Matthew Townsend - Bloomberg
As president-elect, Donald Trump is pro-business and a champion of corporate tax cuts. And anti-free trade and a big-company bully.
That's a disorienting mix for chief executive officers trying to suss out whether Trump in the White House will be a blessing or bad luck. Planning ahead's no easy task when the next commander in chief is a guy with a hair-trigger Twitter finger who touts policies that could both help and hurt U.S. companies. Many said in interviews that they're cautiously optimistic -- and a tad nervous.
bloom.bg/2hLxP6q
***** Smart CEOs bail and name a new CEO. Just saying.
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Broken Order Router; Trading Illicitly for Mom; Manipulation: Reg SHO; Reg MAR
Gary DeWaal - Bridging the Week
Last week, a broker-dealer settled Securities and Exchange Commission and New York Attorney General charges that its marketing of an order routing system was misleading when it did not disclose to its clients and prospective clients that, because of a data coding error, the system failed automatically to evaluate different dark-pool trading venues for optimal execution of orders, as promised. Meanwhile, the Commodity Futures Trading Commission obtained a summary judgment decision that a trader's prearranged trades to transfer profits from her employer's trading account to an account of a company owned by her mom violated applicable federal law and a CFTC regulation. As a result, the following matters are covered in this week's edition of Bridging the Week - the last regular edition for 2016:
/goo.gl/a7TwdC
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Top Three
If you want to grab the JLN readership's attention, just write a story with Chicago in the title. The FT's story featured Chicago's position as the listed derivatives capital, with 45,000 jobs devoted to the industry. (We remember a time when that estimate was 150,000, but who's counting), The top read piece on Friday, by a looooong shot, was Chicago retains role as capital of derivatives industry. Second went to a Thursday top story, JLN's piece on Swiss back-office upstart Revendex, Should ION and FIS be worried?. Third wend to Bloomberg's fine piece on holiday season productivity Send Everyone Home for Christmas. Nobody's Working Anyway. Have a non-productive week everyone.
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| Lead Stories | Barclays Severing Ties With Up to 7,000 Clients to Boost Returns
by Stephen Morris - Bloomberg
Launches 'Flight Deck' system to rank clients by profitability; Bank's top 500 markets clients ranked gold, platinum, diamond
Barclays Plc is preparing to tell 7,000 clients to do more trading with the firm or find another bank, the latest move in an industrywide trend of winnowing down customer lists to the ones that produce significant profits.
/goo.gl/1PEh11
ICAP looks to process forex trades on blockchain; Move comes as settlement house Euroclear completes 2-week pilot for 600 test deals
Philip Stafford - FT
ICAP is preparing to process thousands of foreign exchange trades on blockchain technology amid signs the emerging standard is encroaching on global markets.
/goo.gl/Vh5rJB
Deutsche axes bonuses to pay toxic loans fine; Top bankers to miss out on payouts as lender braces for giant US settlement
Aimee Donnellan - The Times
Deutsche Bank is to axe bonuses for senior staff as part of its desperate efforts to pay for a potential $14bn (£11.2bn) legal settlement with American regulators.
/goo.gl/ANLQcn
Itiviti Confirms Deutsche Börse Has Signed Long-Term Agreement To Use Tbricks By Itiviti
MondoVisione
Itiviti, a world-leading technology provider for the capital markets industry, today announced that Deutsche Börse has signed a long-term agreement to use its Tbricks by Itiviti platform. Tbricks by Itiviti is a modern system designed for constant change, combining a high-performance core with flexible, app-based business logic.
/goo.gl/VyLU5u
Are the metals men right to rage against the machines?
By Andy Home - Daily Mail
It's a debate that has raged in other parts of the financial universe for years. But it's only this year that the issue of high-frequency trading (HFT) has burst into acrimonious bloom in the closeted world that is the London Metal Exchange (LME).
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FT in Talks on Acquisitions Year After Nikkei Deal
Gerry Smith - Bloomberg
The Financial Times is in talks to buy companies that strengthen its digital subscription business as the newspaper capitalizes on greater financial support from its new owner, Japan's Nikkei Inc., FT Chief Executive Officer John Ridding said.
/goo.gl/2hjjgw
Deutsche Bank to pay more than $40 million to settle dark pool case
Sarah N. Lynch - Reuters
A unit of Deutsche Bank AG conceded that it misled investors and violated securities laws and will pay more than $40 million to settle charges that it misinformed clients about how it routed orders to anonymous trading platforms known as dark pools, regulators said on Friday. The bank agreed to pay $37 million to settle charges from federal and New York state regulators, and an additional $3.25 million to the Financial Industry Regulatory Authority (FINRA), Wall Street's self-funded regulator.
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Avoiding Toxic Trading: Lessons Learned from the Australian Equity Market
David Klinger, Block Event - Tabb Forum
A common complaint from many market participants is that high-frequency traders (HFT) are "toxic" and negatively impact institutional trading costs. However, a number of academic and regulatory studies have concluded that HFT does not negatively impact the market. So which is correct?
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Return Of Republican Party Good Thing For 'Beaten Down' U.S. Businessmen: Jamie Dimon
Mahima Kapoor - Bloomberg
Jamie Dimon is worried about bad public policies causing constant damage in the U.S. and the rest of the world.
/goo.gl/e88E0i
Donald Trump's Economic Team Continues To Align With His Billionaire Hedge Fund Adviser; His OMB selection supports policy that will make John Paulson billions.
Paul Blumenthal - Huffington Post
As President-elect Donald Trump's economic team forms, it continues to be highly favorable to a key billionaire hedge fund donor who backed his candidacy when most on Wall Street wouldn't touch him.
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| Brexit | | Financials stories regarding the recent decision of the United Kingdom to leave the European Union | Banks may be able to sue EU if denied transitional deal: document
By Andrew MacAskill and Huw Jones - Reuters
Banks in Britain are being advised they may be able to sue the European Union if it fails to grant them a staggered departure from the trading bloc using rights from an arcane treaty that usually governs international law.
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Half of employers see UK's allure fading with Brexit: CBI survey
Reuters
Half of British employers think the country's attractiveness as a place to invest and hire will diminish over the next five years as it leaves the European Union, an annual business survey showed on Monday.
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| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | LME to benefit from volatility surge in 'structural shift'
Kathleen Retourne - FastMarkets
The huge surges in volatility on the London Metal Exchange in November this year will feed through into 2017 as the economic environment shifts, market participants predict. The jump in volatility will be welcomed by the exchange. Much of 2016 has been characterised by prices bumping along the bottom in quiet, low-volume trading.
/goo.gl/LKv6MV
Clearinghouse Resilience and Liquidity Black Holes
Streetwise Professor
One way to summarize it is to say that the LCH was a liquidity black hole. Not only did it collect intra-day and end-of-day variation margin from losers that was paid out to winners only with a delay, it also collected Market Data Runs, which were effectively intra-day initial margin top-ups.
/goo.gl/KrkzsF
Monitor ETFs so they can stay simple, safe and cheap; The $3tn industry must keep on passing tests at times of volatility
FT View
In only one part of the economy  finance  is innovation to be distrusted on principle. Paul Volcker said that the only worthwhile financial innovation during his career was the ATM. He has a point: the finance industry will take any good idea and push it until it cracks. Credit derivatives are only the most recent example.
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SGX announces world's first Shariah-compliant gold futures contract
SGX
Singapore Exchange (SGX) is pleased to announce that its Singapore Kilobar Gold Contract has become the world's first Shariah-compliant gold futures.
/goo.gl/d2MrXg
SGX to report 2Q FY2017 results on 19 January
SGX
Singapore Exchange (SGX) is reporting second-quarter results for Financial Year 2017 (FY2017) after the market closes on 19 January 2017.
/goo.gl/aK7KK0
First ETF with access to iShares' Swedish stock market on Xetra; ETF comprises the largest and most profitable companies on the Stockholm Stock Exchange and is traded in Swedish krona
Deutsche Börse
A new stock index ETF from the iShares product offering has been tradable on Xetra since Monday.
/goo.gl/EklGGM
Introduction of customisable option multiplier for options volatility strategies
Eurex
After the Trade Entry Service (TES) functionality has been introduced with Release 4.0, T7 provides two different possibilities for delta-neutral hedging of options trades
/goo.gl/fngmB3
Trading calendar: Adjustment for 5 June 2017 (Whit Monday), 3 October 2017 (German Unification Day) and 31 October 2017 (Reformation Day)
Eurex
The Exchange Council of the Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) decided that no trading will take place at FWB® on 5 June 2017 (Whit Monday), 3 October 2017 (German Unification Day) and 31 October 2017 (Reformation Day). The Management Board of the FWB® followed this decision.
/goo.gl/UoFRxu
An Outsider Will Likely Lead The NSE After Chitra Ramkrishna's Sudden Exit
Sajeet Manghat - Bloomberg
India's largest stock exchange, the National Stock Exchange India Ltd. (NSE) is looking at external candidates to appoint in the position of managing director and chief executive officer after the sudden departure of incumbent Chitra Ramkrishna, said an official at the exchange on the condition of anonymity.
The exchange has already constituted a search
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NSE Seeks Applicants For Post Of MD And CEO
Bloomberg
Beginning the recruitment process, top stock exchange National Stock Exchange of India Ltd. has invited applications to fill the vacuum created by surprise exit of Chitra Ramkrishna as managing director and chief executive officer.
/goo.gl/b3hQ46
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| Politics | | An overview of politics during an election year as it relates to the financial markets | Donald Trump Could Double The Wealth Of Private Equity Billionaires And Change Wall Street Forever
Antoine Gara - Forbes
Donald Trump has vowed to kill one of Wall Street's favorite tax loopholes. A closer look reveals his efforts could produce even more upside for private equity's richest power players. https://goo.gl/bsbF8z
Nasdaq CEO Greifeld: Trump's Pro-Business Policies Injected Confidence into the Markets
Fox Business
Before Donald Trump was elected 45th President of the United States, many Wall Street investors warned that stocks would tumble if he won.
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Britain urged to increase cyber security in financial services
Reuters
Britain's intelligence agencies need to do more to help regulators to protect the financial services industry from cyber crime, the head of an influential parliamentary committee said on Monday.
/goo.gl/go9gqM
Trump's Chinese Scapegoat
Project Syndicate
US President-elect Donald Trump has once again managed to turn facts on their head. As part of a broader effort to take China to task for supposedly "raping" the United States economy through unfair trade policy, he has now renewed his accusation that the country manipulates its currency in order to gain an advantage for its exports. Such statements are as dangerous as they are unmoored from reality.
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| Investing & Trading | | Today's top stories from fixed income, currencies and commodities (FICC) | Meet the Platypus of Wall Street
Jason Zweig - WSJ
The most basic law of bond investing  when interest rates go up, prices of bonds and bond funds go down  got violated this past week. When the Federal Reserve announced on Wednesday that it was raising short-term rates and expected to raise them three times next year, prices of most bonds took a pounding. But leveraged closed-end municipal bond funds went up. That quirky behavior is typical of these odd portfolios that are suddenly tempting investors again.
on.wsj.com/2gT6iTg
Bitcoin trade volume hits record in November
Nikkei Asian Review
A record 174.7 million bitcoins changed hands, so to speak, in November, a 50% or so increase from the previous month's trade volume, according to Bitcoinity.org. The spike came as Chinese jumped into the digital currency as a way to shift their assets into dollars. The previous monthly record, which came in March, was 148.6 million bitcoins.
/goo.gl/hVMBG6
Opinion: Social impact investing is an alternative way to do good
Scott Laband - MarketWatch
Investors who are looking to do well for themselves while doing good in the world are getting more options these days, with alternative investments such as private equity becoming the new trend in impact investing. Social impact investing, sometimes called double-bottom-line investing, is different from philanthropy, the rich giving away their riches out of noblesse oblige, a sense of duty. It's also different than socially responsible investing, or mutual funds cutting off capital to publicly traded companies considered irresponsible by some investor groups. No nukes here. No tobacco there. And so on.
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How the Trump Rally Could Save Endowments
By Mohamed A. El-Erian - Bloomberg
The right combination of high returns, predictable correlations and tolerable volatility holds the key to meeting the objectives of most investors. The last few years have not been easy for many -- in part because of the rather unusual relationships among the main asset classes that feature in strategic asset allocations.
/goo.gl/ClJ3vA
Pound Is 'One of the Most Undervalued' Currencies Among the G-10
by Charlotte Ryan - Bloomberg
Sterling is one of the most undervalued G10 currencies: Nordea; Scottish referendum would have less of an impact than Brexit
The pound was hovering near key levels on the charts, with traders reporting lower-than-average volumes going into the year-end.
/goo.gl/RNhFBl
Our Humble Solution to Unite Europe
Reid Steadman - S&P Indexology
Henry Kissinger famously said, "Who do I call if I want to speak to Europe?" In the world of investments, a similar question could be asked, "What index do I use if I want to invest in Europe?" The answer isn't apparent, and this is why: the leading regional index in Europe, the EURO STOXX 50, doesn't represent all of developed Europe.
/goo.gl/vdbVt4
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| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | Fidelity gives BlackRock an early leg up in robo advice brawl
Tim McLaughlin - Reuters
Fidelity Investments unintentionally boosted BlackRock Inc's prospects as a robo adviser with a small investment in a start-up company that BlackRock bought last year for an estimated $150 million.
/goo.gl/2u4ikp
Goldman reshuffles research leadership ahead of new rule
Olivia Oran - Reuters
Goldman Sachs Group Inc (GS.N) has reshuffled the leadership of its research division, according to an internal memo seen by Reuters on Friday. The changes come as banks are preparing for the latest Markets in Financial Instruments Directive, known as MiFID II, which will change the way that investment research is paid for by clients.
reut.rs/2gT6IZY
Former UBS traders bring case against City watchdog; Pair argue that FCA suppressed key evidence in its Libor investigation
by: Caroline Binham, Financial Regulation Correspondent - FT
Two former UBS traders caught up in the Libor-rigging scandal have brought a case against the City watchdog alleging that it suppressed key evidence in its investigation into them.
/goo.gl/LUPlTT
Wells Fargo Lining Up Robot Stock Pickers for Its First Ever ETF
Dani Burger - Bloomberg
First JPMorgan Chase & Co. Then Goldman Sachs Group. Now, Wells Fargo & Co. wants to charge into the biggest asset management battleground, exchange-traded funds. The San Francisco-based bank's fund unit is considering launching its first ETF within three to six months, company executives said. Following the success of giants that went before, Wells is beefing up its quant credentials as it prepares to compete for a chunk of the $4.1 trillion ETF pie.
/goo.gl/NlYFID
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| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | High frequency trading: Reaching the limits
Orcun Kaya, Deutsche Bank Research - Automated Trader
The tremendous growth in high frequency trading (HFT) seems to have reached its limits in recent years. Massively increased costs for infrastructure and relentless competition are probably to blame.
/goo.gl/of86A1
The IEX Exchange, Blockchain Technology and the Future of Trading
Samuel Taube - Investment U
Technology is a trader's friend. But at what point does using it cross the line into cheating the system? One of the most controversial issues in financial tech is high-frequency trading (HFT). Another is the opacity of gold trading.
/goo.gl/MaQqwx
Digital currency sales take off, but with no regulation questions abound
By Gertrude Chavez-Dreyfuss - Reuters
A small, but rapidly growing number of digital technology start-ups is raising cash by creating and selling their own currencies in offerings that bypass banks or venture capital firms as intermediaries and are outside the reach of financial regulators.
/goo.gl/irQYNx
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| Regulation & Enforcement | | For more regulatory, visit MarketsReformWiki, our website focused on current market reform efforts. | Goldman Sachs to settle U.S. rate-rigging lawsuit for $56.5 million
Nate Raymond - Reuters
Goldman Sachs Group Inc (GS.N) has agreed to pay $56.5 million to resolve a U.S. class action lawsuit accusing it and other banks of rigging an interest rate benchmark used in the $553 trillion derivatives market.
/goo.gl/nRd5DD
What is an algorithm? Financial Regulation in the hft era
Nathan Coombs, University of Edinburgh - Automated Trader
For readers of Automated Trader there will be nothing mysterious about algorithms. Short strings of code, a secret sauce for trading; that's all. But in recent years social scientists have taken an intense interest in them. In 2015, the legal theorist Frank Pasquale published a book called 'The Black Box Society'. It focuses on the way that from Internet search engines to the algorithms that score our 'digital reputation', our lives are increasingly governed by opaque automated processes.
/goo.gl/Lxur2m
FCA unveils tougher research payment transparency requirements under MiFID II
Daniel Flynn - InvestmentWeek
The Financial Conduct Authority (FCA) has unveiled tougher transparency requirements around the presentation of research payment information under MiFID II in order to ensure it is "relevant and useful" to retail investors and can enable them to better judge whether they are getting value for money.
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IOSCO Asia-Pacific Regional Committee Comments On The Proposed CFTC Cross-Border Swap Rule
MondoVisione
International Organization of Securities Commissions (IOSCO) Asia-Pacific Regional Committee (APRC) sent a comment letter on December 19, 2016 to the CFTC regarding the proposed CFTC cross-border swap rule issued for public comment.
/goo.gl/syuw7E
SEC Charges Three Individuals and Broker-Dealer With Violating Market Structure Rules
SEC.gov
The Securities and Exchange Commission today announced settled cease-and-desist proceedings against the CEO of a Utah-based broker-dealer and two registered persons associated with the firm for causing the firm's violations of SEC market structure rules, and contested administrative and cease-and-desist proceeding against the firm for the alleged violations.
/goo.gl/AOvxUg
SEC Charges Gatekeepers in Microcap Frauds
SEC.gov
The Securities and Exchange Commission today barred several market participants from the penny stock industry for their roles in various sham initial public offerings (IPOs) of microcap stocks that defrauded investors.
/goo.gl/MIi9q5
Sebi warns against unsolicited SMS
Business Standard News
Capital markets regulator Sebi on Friday cautioned general public against trading on the basis of unsolicited tips received through SMSes and calls. In a caution notice, the regulator asked public to deal with only Sebi-registered investment advisers and research analysts and warned unregistered entities of strict action.
/goo.gl/pYic3s
Japan's Financial Services Agency: The 5th Meeting Of The Working Group On The Financial System Of The Financial System Council
MondoVisione
The Working Group on the Financial System of the Financial System Council will hold its 5th meeting on December 21st, 2016 as follows.
/goo.gl/UwaJMv
European Supervisory Authorities Consult on Big Data
ESMA
The Joint Committee of the European Supervisory Authorities (ESAs) today launched a public consultation about the potential benefits and risks of Big Data for consumers and financial firms to determine whether any further regulatory or supervisory actions may be needed.
/goo.gl/yRs1YB
ESMA Set Timetable for MIFiD II Waiver Applications
ESMA
The European Securities and Markets Authority (ESMA) has updated two Questions and Answers (Q&A) documents regarding implementation issues relating to transparency topics and market structures topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
/goo.gl/5ZbIxt
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| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | India's only castor seed exchange at Rajkot downs shutters; Fails to bag Sebi nod for new contracts
Vimukt Dave - Business Standard
Rajkot Commodity Exchange (RCX) - India's only operational regional exchange for castor seed futures - has stopped its operations after failing to bag the Securities and Exchange Board of India (Sebi)'s permission for new contracts. RCX failed to bag the Sebi nod due to non-fulfilment of compliances set by the regulatory body.
/goo.gl/xZqRzm
NSE IFSC seeks Sebi's nod to set up international exchange at GIFT city; Roadshow would start from Kolkata on Dec 20 followed by a similar engagement in Delhi, Ahmedabad on Dec 21, 22
Business Standard
NSE has applied for regulator Sebi's approval to set up an international exchange at Gujarat International Finance Tec (GIFT) city and will begin roadshows to inform stakeholders on the new initiative from next week.
/goo.gl/TI0FeP
Companies Face Delays Getting Cash Out of China; New regulations aimed at slowing the yuan's decline create confusion for multinationals
By VIPAL MONGA and NINA TRENTMANN - WSJ
French construction-materials company Cie. de Saint-Gobain SA, is finding it harder to take its money out of China.
/goo.gl/FMEHIL
Stricter bank supervision needed in developing nations, say policymakers; Financial Stability Board recommends measures to halt decline in correspondent banking
by: Caroline Binham - FT
Bank supervision and anti-money laundering standards need to be toughened in global geopolitical hotspots as a way of tackling the recent decline in so-called correspondent banking, a global group of policymakers has said.
/goo.gl/65ppfC
Research Affiliates: The Emerging Markets Hat Trick: Time To Throw Your Hat In?
Rob Arnott and Brandon Kunz - ETF.com
On the rare occasion when a hockey player scores three goals in a single game, fans throw their hats into the rink to acknowledge the feat, called a "hat trick." The term originated over 150 years ago on the cricket pitch in the United Kingdom: the bowler who retired three batsmen with three consecutive balls was awarded a new hat. Today's sports fans have evolved the practice into literally pummeling the goal maker with hundreds of hats. What has not evolved, however, is the rarity of the achievement.
/goo.gl/ktHiAB
Goldman Warns China Outflows Rising in Both Yuan Payments, Forex
Bloomberg News
Pressures could worsen in first quarter of next year: analyst; Offshore yuan rises Monday after PBOC strengthens fixing
China's capital outflows are accelerating and the central bank is selling larger amounts of foreign exchange, Goldman Sachs Group Inc warned as the yuan headed for its biggest annual decline in more than 20 years.
/goo.gl/gV2GSb
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| Miscellaneous | | Stories that don't quite fit under the other sections | Growing ranks of female finance directors boost board diversity; Accounting background increasingly gives candidates leg up to top jobs
by: Hannah Murphy - FT
Jessica Uhl, Royal Dutch Shell's newly-appointed chief financial officer, joins the growing ranks of women rising to the boardroom via the finance route, a trend that could boost the low number of female chief executives in future.
/goo.gl/QtFtd0
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Disclaimer: All John Lothian Newsletters, JohnLothianNews.com, MarketsWiki.com and MarketsReformWiki.com are products of John Lothian News, a division of John J. Lothian & Company, Inc. The opinions expressed in all John J. Lothian & Company, Inc. publications are strictly those of their respective editors. They are intended solely for informative purposes and are not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy or trade in any commodities or securities herein named. Information is obtained from sources believed to be reliable, but is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. Security futures are not suitable for all customers. Futures and options trading involve risk. Past results are no indication of future performance. Nothing on any John J. Lothian & Company site should be considered an endorsement by any sponsor of any website or newsletter content.
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