First Choice Bancorp (FCBP) Appointed Lynn M. Hopkins As Executive Vice President & Chief Financial Officer

First Choice Bancorp is a community-based bank holding company headquartered in Cerritos, California, and it is the sole shareholder of First Choice Bank.

First Choice Bancorp (Nasdaq: FCBP) recently announced that Lynn M. Hopkins has been appointed Executive Vice President and Chief Financial Officer, effective September 13, 2018. Ms. Hopkins succeeds Yvonne Chen, who will now serve as the Company’s Executive Vice President of Finance, overseeing financial planning and analysis. Ms. Hopkins has more than 25 years of experience in the financial services industry including 15 years in executive finance positions at PacWest Bancorp. Ms. Hopkins joins First Choice most recently from Commercial Bank of California, an $800 million private commercial bank, where she served as Executive Vice President & Chief Financial Officer. From 2002 to 2017, Ms. Hopkins served as Executive Vice President of PacWest Bancorp and Pacific Western Bank, the subsidiary bank of PacWest Bancorp, in a number of finance and corporate governance leadership roles. Ms. Hopkins served as Chief Accounting Officer of PacWest from 2014 to 2017, as Chief Financial Officer of Pacific Western Bank from 2002 to 2014, as Corporate Secretary from 2009 to 2014, and as a Director of the Pacific Western Bank from 2002 to 2006. During her time at PacWest, the company grew from $1 billion in assets to more than $20 billion in assets, partially driven by more than 25 acquisitions. Earlier in her career, Ms. Hopkins held senior finance positions at California Community Bancshares and Western Bancorp. She began her career as a CPA with KPMG in Los Angeles and London. Ms. Hopkins holds a B.A. in Economics/Business from the University of California, Los Angeles.

Robert Franko, President and Chief Executive Officer of First Choice stated, “We are very pleased to add an executive of Lynn’s caliber to lead our finance department. Lynn’s experience in financial reporting for a public company and her risk management experience in helping to manage the organic and acquisitive growth at PacWest will be valuable as we integrate our recent acquisition of Pacific Commerce Bancorp and continue expanding our franchise. Her well-rounded skill set and leadership abilities are well suited to handle the increased responsibilities for our finance department following our NASDAQ listing and transformative merger with Pacific Commerce. We would also like to recognize Yvonne Chen for her valuable service as Chief Financial Officer for more than a decade. Yvonne was instrumental in leading us to become a public company while initiating and completing the merger with Pacific Commerce. We are very pleased that she will remain at First Choice in her chosen role as the Executive Vice President of Finance so that we can continue to benefit from her expertise and institutional knowledge,” added Mr. Franko.

Peter Hui, Chairman of First Choice, stated, “We are very proud to be able to welcome a professional like Lynn to our team. In addition, we recognize the valuable service that Yvonne has provided to First Choice.

Ms. Hopkins stated, “I am excited to join a growing organization that has achieved several milestones in a short period of time. I look forward to making a meaningful contribution to the future growth and success of First Choice.”

First Choice Bancorp is a community-based bank holding company headquartered in Cerritos, California, and it is the sole shareholder of First Choice Bank. As of July 31, 2018, First Choice had total assets of approximately $1.5 billion. First Choice Bank is a community-focused financial institution, serving diverse consumers and commercial clients and specializing in loans to small businesses, private banking clients, commercial and industrial (C&I) loans, and commercial real estate loans with a niche in providing financing for the hospitality industry. First Choice Bank is a Preferred Small Business Administration (SBA) Lender. Founded in 2005, First Choice Bank has quickly become a leading provider of financial services that enable our customers to grow, maintain strength, and achieve their business objectives. We strive to surpass our clients’ expectations through our efficiency and professionalism and are committed to being “First in Speed, Service, and Solutions.” First Choice Bancorp stock is traded on the Nasdaq Capital Market under the ticker symbol “FCBP.”

Lynn M. Hopkins Named Chief Financial Officer of First Choice Bancorp

First Choice Bancorp (FCBP) (“First Choice” or the “Company”) today announced that Lynn M. Hopkins has been appointed Executive Vice President and Chief Financial Officer, effective September 13, 2018. Ms. Hopkins succeeds Yvonne Chen, who will now serve as the Company’s Executive Vice President of..

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First Choice Bancorp Reports Q2 2018 Results, Pushes Total Assets To ~$1.5B, Declares Quarterly Dividend, & Closes Acquisition

First Choice Bancorp is a community-based bank holding company headquartered in Cerritos, California, and it is the sole shareholder of First Choice Bank. As of July 31, 2018, the First Choice had total assets of approximately $1.5 billion. First Choice Bank, headquartered in Cerritos, California is a community-focused financial institution, serving diverse consumers and commercial clients and specializing in loans to small businesses, private banking clients, commercial and industrial (C&I) loans, and commercial real estate loans with a niche in providing financing for the hospitality industry. First Choice Bank is a Preferred Small Business Administration (SBA) Lender. Founded in 2005, First Choice Bank has quickly become a leading provider of financial services that enable their customers to grow, maintain strength, and achieve their business objectives. They strive to surpass their clients’ expectations through their efficiency and professionalism and are committed to being “First in Speed, Service, and Solutions.” First Choice Bancorp stock is traded on the Nasdaq Capital Market under the ticker symbol “FCBP.”

First Choice Bancorp, (“First Choice” or the “Company”) (FCBP), the holding company of First Choice Bank (the “Bank”), reported financial results this week for the second quarter ended June 30, 2018. For the second quarter of 2018, net income was $3.4 million, or $0.47 per diluted share, compared to net income of $2.4 million, or $0.33 per diluted share, for the first quarter of 2018, and net income of $2.3 million, or $0.32 per diluted share, for the second quarter of 2017.

On July 26, 2018, the Company also declared a cash dividend of $0.20 per share. The dividend is payable on September 10, 2018 to shareholders of record on August 27, 2018.

Robert M. Franko, President and CEO of First Choice Bancorp stated, “We delivered strong year-over-year growth in earnings, driven by higher net interest income, improved efficiencies and stable asset quality. Our end-of-period loan growth in the second quarter was impacted by fluctuations in commercial line utilization from one large commercial customer. Our average net loans increased 3.49% compared to the first quarter of 2018, which is more reflective of the growth trends we are experiencing. Our loan pipeline remains healthy and we expect to see a consistent level of organic loan growth over the second half of the year.”

On August 1, 2018, FCBP announced it has completed its acquisition of Pacific Commerce Bancorp (“Pacific Commerce”), the parent company of Pacific Commerce Bank. As part of the transaction, Pacific Commerce Bank has been merged into First Choice Bank. The transaction brings First Choice’s total assets to more than $1.5 billion, based on information as of June 30, 2018.

The final exchange ratio of the stock-to-stock transaction is 0.47689, which is higher than the ratio of 0.46531 announced at the time of the acquisition, as the ratio was subject to certain adjustments as previously described in the joint proxy statement. The higher exchange ratio was primarily due to adjustments resulting from an increase in Pacific Commerce’s capital from the exercise of options, lower than budgeted transaction costs and higher than projected net income during the first six months of 2018. The final ownership of the combined entity based on common shares outstanding is 62.3% owned by original First Choice Bancorp shareholders and 37.7% owned by former Pacific Commerce Bancorp shareholders, compared to the original estimate of 63.5% and 36.5%, respectively.

Robert M. Franko, President and CEO of First Choice Bancorp stated, “As announced, we completed our acquisition of Pacific Commerce Bancorp and we are very excited to welcome our new customers and colleagues to the First Choice family. The combination of our two banks creates the 16th largest publicly traded bank in Southern California and significantly improves our competitive positioning. Our top priority for the remainder of 2018 is managing the integration of Pacific Commerce and realizing all of the synergies we project for this transaction. We continue to expect the acquisition to be approximately 15% accretive to earnings per share in 2019, significantly improving our earnings power and the level of returns that we generate for our shareholders.”

FCBP Operating Results for the Second Quarter 2018

Net Interest Income

Net interest income for the second quarter of 2018 was $10.8 million, an increase of 13.26% from $9.6 million for the first quarter of 2018. The increase in net interest income from the first quarter was primarily attributable to higher average loan balances and early payoffs in the purchased SBA loan portfolio, which resulted in the accelerated recognition of income from the unamortized loan discounts.

Net Interest Margin

Net interest margin for the second quarter of 2018 was 4.73%, an increase from 4.38% for the first quarter of 2018. The net interest margin was positively impacted by an increase in accretion income on acquired loans due to an increase in payoffs.

Excluding the impact of accretion income on acquired loans, the net interest margin decreased 5 basis points compared to the first quarter of 2018. The decrease was attributable to a 2 basis points decrease in dividend income from FHLB and other bank stocks, and an 18 basis points increase in the average cost of funds, attributed in large part to a deposit promotion program in the second quarter which ended on June 30, 2018, and partially offset by a 15 basis points increase in the average loan yield.

Non-interest Income

Non-interest income for the second quarter of 2018 was $0.8 million, an increase of 38.37% from $0.6 million for the first quarter of 2018. The increase was primarily the result of an increase in the gain on sale of SBA loans. During the second quarter of 2018, the Company sold $5.8 million in SBA loans, resulting in a gain on sale of $0.4 million. During the first quarter of 2018, the Company sold $2.7 million in SBA loans, resulting in a gain on sale of $0.2 million.

Non-interest Expense

Non-interest expense for the second quarter of 2018 was $6.3 million, a decrease of 5.39% from $6.7 million for the first quarter of 2018. The decrease was primarily attributable to a decrease in the salary and benefits and customer service costs. Non-interest expense for the second quarter of 2018 included approximately $0.4 million in merger-related and public company registration expense related to the Company’s Nasdaq listing and the pending acquisition of Pacific Commerce Bancorp.

The Company’s operating efficiency ratio was 54.47% in the second quarter of 2018, compared with 66.01% in the first quarter of 2018.

Excluding the impact of accretion income on acquired loans and the merger-related and public company registration expense, the Company’s operating efficiency ratio was 55.75% in the second quarter of 2018, compared with 62.31% in the first quarter of 2018. The improvement in operating efficiency was due to an increase in operating income, and decrease in non-interest expense in the second quarter of 2018.

Income Taxes

The Company recorded income tax expense of $1.5 million for the second quarter of 2018, representing an effective tax rate of 30.76%, compared to 26.53% reported for the first quarter of 2018. The increase in the effective tax rate reflects a lower tax benefit from stock-based compensation in the second quarter of 2018.

Loan Portfolio

Total gross loans, excluding loans held for sale, were $787.2 million at June 30, 2018, a decrease of 0.81% from $793.6 million at March 31, 2018. The decrease was primarily attributable to the paydown of one large commercial line of credit.

During the second quarter of 2018, the Company originated $88.1 million in new loan commitments, the majority of the growth during the quarter occurred in construction and commercial real estate loans, $52.7 million, or 59.84% of total new loan commitments, and in commercial and industrial loans, $25.3 million, or 28.69% of total new loan commitments.

Deposits

Total deposits were $785.0 million at June 30, 2018, an increase of 3.45% from $758.8 million at March 31, 2018. The increase in noninterest-bearing demand, money market, time deposits and brokered deposits was $14.1 million, $52.5 million, $21.0 million and $4.0 million, respectively, as depositors are shifting balances to higher yielding accounts. Offsetting these increases were reductions in interest checking and savings accounts of $47.3 million and $18.2 million, respectively.

Credit Quality

Non-performing assets totaled $1.6 million, or 0.16% of total assets, at June 30, 2018, compared with $1.1 million, or 0.11% of total assets, at March 31, 2018. The increase in non-performing assets was primarily attributable to two SBA loans placed on non-accrual status.

The Company recorded net recoveries of $46 thousand in the second quarter.

The Company recorded a provision for loan losses of $0.3 million for the second quarter of 2018, which was primarily attributable to the increase in non-performing assets.

The Company’s allowance for loan losses was 1.32% of total gross loans and 657.54% of non-performing assets at June 30, 2018, compared with 1.26% and 943.45%, respectively, at March 31, 2018.

Capital Ratios

At June 30, 2018, the Bank exceeded all regulatory capital requirements under Basel III and was considered to be a ‘‘well-capitalized’’ financial institution.

First Choice was recently added to the Russell 3000® Index and the Russell 2000® Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes after closing on June 22, 2018.  The Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. In the U.S. marketplace, almost all of the U.S. equity assets are benchmarked by the Russell 3000, representing more than $8.5 trillion. The Company will hold its membership until FTSE Russell reconstitutes its indexes in June 2019. Membership in the Russell indexes remains in place for one year and automatically provides inclusion in the appropriate Russell growth and value style indexes. FTSE Russell determines membership for these indexes primarily by objective, market-capitalization rankings. The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000. The Russell 2000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007. The new membership list for the Russell Indexes is available at https://www.ftserussell.com/index-series/index-resources/russell-reconstitution.

To learn more about First Choice Bancorp (Nasdaq: FCBP) and to track its ongoing progress, please bookmark and visit the Vista Partners First Choice Bancorp (Nasdaq: FCBP) Company dedicated page.

First Choice Bancorp Reports Second Quarter 2018 Financial Results and Declares Quarterly Dividend

Net income of $3.4 million, or $0.47 per diluted share Annualized return on average assets and average equity was 1.48% and 12.51%, respectively Total gross loans of $787.2 million at June 30, 2018, a …..

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First Choice Bancorp Receives FDIC Approval of Proposed Merger & Is Added to Russell 3000 & Russell 2000 Indexes

First Choice Bancorp (NasdaqCM: FCBP), the holding company of First Choice Bank (the “Bank”), and Pacific Commerce Bancorp (OTC Pink: PCBC), the holding company for Pacific Commerce Bank, previously announced the proposed merger of Pacific Commerce Bancorp with and into First Choice Bancorp (the “Merger”) on February 26, 2018, before the market opened.

On May 10, 2018, First Choice was advised by the Federal Deposit Insurance Corporation (the “FDIC”) that the Merger was approved, subject to the completion of certain conditions in the approval order.  In addition, the Board of Governors of the Federal Reserve System (the “Board”) has advised First Choice that, subject to FDIC approval, the Board has waived the requirement for a separate application.  The approval of the Merger from the California Department of Business Oversight is pending.

First Choice it was recently added to the Russell 3000® Index and the Russell 2000® Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes after closing on June 22, 2018.  The Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. In the U.S. marketplace, almost all of the U.S. equity assets are benchmarked by the Russell 3000, representing more than $8.5 trillion. The Company will hold its membership until FTSE Russell reconstitutes its indexes in June 2019. Membership in the Russell indexes remains in place for one year and automatically provides inclusion in the appropriate Russell growth and value style indexes. FTSE Russell determines membership for these indexes primarily by objective, market-capitalization rankings. The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000. The Russell 2000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007. The new membership list for the Russell Indexes is available at https://www.ftserussell.com/index-series/index-resources/russell-reconstitution.

Robert Franko, President, and CEO of First Choice stated, “Being added to the Russell indexes is a milestone for First Choice, and we are happy to have earned this distinction. Inclusion in these market benchmarks is expected to raise our profile with institutional investors and support trading of our shares.”

Peter Hui, the Chairman of First Choice, stated, “We set ourselves on a path last year to achieve this honor. Our Board and all of our colleagues have worked very diligently to get to this position. From our founding in 2005 until today, we have always strived to do what is best for our shareholders, our clients and our employees.”

To learn more about First Choice Bancorp (Nasdaq: FCBP) and to track its ongoing progress, please bookmark and visit the Vista Partners First Choice Bancorp (Nasdaq: FCBP) Company dedicated page.

 




Visa & PayPal Partnership Extension Seeks to Enhance Canadian Payment Experience Online, In-app & In Store

Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal Holdings, Inc. (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Their open digital payments platform gives PayPal’s 237 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo, and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies.

Dow 30 component Visa Inc. (NYSE: V) is the world’s leader in digital payments. Their mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Their advanced global processing network, VisaNet, provides secure and reliable payments around the world and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce.

Visa and PayPal recently announced an extension of their strategic partnership regarding Canada is believed to create a seamless experience for consumers who choose to pay with their Visa card at places that accept PayPal. Through collaboration between bank partners and PayPal, consumers will be able to add Visa cards into the PayPal digital wallet easily from other banking apps. It also enables PayPal to leverage Visa Direct (Visa’s real-time payments solution), which allows Visa cardholders to more easily move funds from their PayPal account to an eligible Visa debit card in real-time.

In addition, Visa and PayPal have agreed to extend participation in the Visa Digital Enablement Program (VDEP). VDEP provides Visa’s partners with access to tokenization technology, which enables simple and secure payment on mobile phones or any connected device. This will help expand the use of PayPal to businesses that accept Visa in physical locations.

 

 

 

 

To learn more about Visa (V) and to track its ongoing progress please visit the Vista Partners Visa (V) Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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Visa and PayPal extend partnership to accelerate adoption of digital and mobile payments in Canada

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American Express Helps Build Next Generation of Nonprofit Leaders

American Express Company (AXP), and its subsidiaries provide customers and businesses globally with charge and credit payment card products and travel-related services. They look to enrich the lives of their customers and build business success.

The American Express Company is hosting the fourth annual Leadership Academy Global Alumni Summit. The event kicked off April 16 in New York and will wrap things up today. The summit honors eleven years of a transformational program recognized for the development of over 3600 nonprofit and social purpose leaders.

The Summit provides nonprofit leaders with an unparalleled professional development event that brings together seventy-two acclaimed alumni from the program to discuss best practices and principles and provide the leaders with access to information and insights while expanding their network.

Also featured at The Summit are workshops and panel discussions covering things from networking, skill enhancement, and the key challenges faced by nonprofits.

Organizations present at The Summit include The Aspen Institute, Ashoka Changemakers, Center for Creative Leadership, Common Purpose, and Independent Sector.

American Express has long-championed the development of emerging nonprofit and social purpose leaders, globally. The Summit provides essential training and resources enabling these leaders to continue making a difference where it matters most.” -Timothy J. McClimon, president, American Express Foundation

To learn more about American Express Company (AXP) and to continue to track its progress please visit the Vista Partners American Express Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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Fourth Annual American Express Leadership Academy Global Alumni Summit Connects Social Purpose Leaders from Around the World

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JPMorgan Chase To Enter Into Healthcare Venture With Amazon and Berkshire

JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking.

JPMorgan Chase & Co, along with Amazon.com Inc., (AMZN) and Berkshire Hathaway have set their sights on resolving the biggest health issues that put pressure on the U.S. economy. The combined endeavor will focus on aligning healthcare payments with employee health and addressing chronic diseases.

In order to achieve this goal, the companies will start off by using big data, virtual technology, better customer engagement, and an increase in consumer choices to help address crucial problems.

The join venture looks to give more control to employees in accessing their own healthcare data and increasing telemedicine.

“The effort will start very small, but there is much to do, and we are optimistic.” -Jamie Dimon, Chairman and CEO JPMorgan Chase & Co

To learn more about JPMorgan Chase & Co. (JPM) and to continue to track its progress please visit the Vista Partners JPMorgan Chase & Co. Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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JPM, Amazon, Berkshire will use data to improve healthcare

JPMorgan Chase & Co, Amazon.com Inc., and Berkshire Hathaway will focus on the biggest health issues threatening the U.S. economy in their new joint venture, including aligning healthcare payments with employee health and addressing chronic diseases, CEO Jamie Dimon said in his annual letter to shareholders. [nL2N1RI0U7]..

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American Express Appoints Richard Petrino As Executive Vice President, Corporate Controller & Principle Accounting Officer

American Express Company (AXP), and its subsidiaries, provide customers and businesses globally with charge and credit payment card products and travel-related services. They look to enrich the lives of their customers and build business success.

American Express recently announced the appointment of Richard Petrino to Executive Vice President, Corporate Controller, and Principle Accounting Officer of the Company. Petrino will assume this appointment effective immediately.

Petrino earned his Master in Business Administration from New York University and a Bachelor of Science in Accounting from Lehigh University. He has served as Senior Vice President, Global Head of Operational Risk and Oversight of American Express since May 2016. He has also served as Senior Vice President, Head of Global Capital Markets & Basel Program; Senior Vice President, Corporate Planning & Investor Relations.

Rick’s broad leadership experience and extensive knowledge of the Finance organization and Company, have made him a clear choice to lead the Controllership organization.”  -Jeffrey C. Campbell, Executive Vice President and Chief Financial Officer.

To learn more about American Express Company (AXP) and to continue to track its progress please visit the Vista Partners American Express Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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Richard Petrino Appointed Executive Vice President, Corporate Controller and Principal Accounting Officer of American Express

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Harvey Schwartz to Retire From Goldman Sachs

The Goldman Sachs Group, Inc.(GS) is one of the world’s leading investment bankers. They are a securities and investment management firm that offers a wide range of financial services with a diversified client base.

Goldman Sachs announced that the firm’s President and Co-chief Operating Officer, Harvey Schwartz, will retire April 20, 2018. Schwartz has been in this role since January 2017, and before that was the Chief Financial Officer for four years. He has been with the Goldmans Sachs Group since 1997 when he served as a vice president. Since then he has served in several roles including managing director andGlobal Head of Securities Division Sales.

Harvey has been a mentor to many, and his influence has made an indelible impact on generations of professionals at Goldman Sachs. I want to thank Harvey for all he’s done for the firm.” -Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs.

Upon Harvey Schwartz’s retirement, David Solomon will serve as the sole President and Chief Operating Officer of The Goldman Sachs Group, Inc.

To learn more about The Goldman Sachs Group, Inc. (GS) and to continue to track its progress please visit the Vista Partners Goldman Sachs Group, Inc. Coverage Page.

Goldman Sachs | Press Releases – Harvey M. Schwartz to Retire From Goldman Sachs, David M. Solomon to Serve as Sole President and Chief Operating Officer

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Sonia Cargan is New Chief Diversity Officer of American Express

American Express Company (AXP), and its subsidiaries, provide customers and businesses globally with charge and credit payment card products and travel-related services. They look to enrich the lives of their customers and build business success.

Sonia Cargan has been appointed the chief diversity officer of American Express Company. With this appointment, Cargan’s job will be to ensure that American Express is an employer choice of top diverse talent and that it continues to drive unified success through a collaborative work environment and growth of inclusive teams. Cargan will also work to serve the company’s 15 colleague networks to promote a culture of inclusion and development opportunities.

Cargan received her Bachelor of Arts Honors degree in social administration from the University of Brighton and has held a 22-year career with American Express Company.

Sonia is a long-time advocate of the business results that can be achieved through the development of a diverse and inclusive organization. As an executive with a wealth of global experience, she is also ideally suited to continue to elevate and evolve our diversity and inclusion strategies through a global lens.” – Kevin Cox, chief human resources officer, American Express

To learn more about American Express Company (AXP) and to continue to track its progress please visit the Vista Partners American Express Coverage Page.

American Express Names Sonia Cargan as Chief Diversity Officer

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JPMorgan Chase Investor Day

JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking.

JPMorgan Chase will host its 2018 Investor Day on Tuesday, February 27, 2018. The event will start at 8:00 a.m. EST and will be held in New York City. The day will include presentations by the executive management as will as a question and answer session. It is expected to last through mid-day.

Access to the general public can be reached by dialing (866)541-2724 for U.S. and Canada or (706) 634-7246 for international listeners. It is suggested to dial in 15 minutes before the event, and presentation slides will be posted on the firm’s website early the same morning.

JPMorgan (JPM) reported earnings on 1/12/2018 of $1.07 per share, missing estimates calling for $1.726 per share. To learn more about JPMorgan Chase & Co. (JPM) and to continue to track its progress please visit the Vista Partners JPMorgan Chase & Co. Coverage Page.

Latest Investor Relations Press Release | JPMorgan Chase & Co.

JPMorgan Chase 2018 Investor Day..

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