What’s Going on in Finance Today…
More executive turnover at Walmart as CFO Charles Holley retires after 5 years. He will be replaced by Walmart’s internal finance chief, Brett Biggs. Standard Chartered, a U.K. based bank will be cutting 1,000 senior managers under CEO Bill Winters. And aluminum company Alcoa has seen a profit drop of 77% in their third quarter. All these stories and more in the CFO roundup…
Audit Fees for Public Companies Up 3.4%
SEC filers paid external auditors an average of $1.5 million in 2014, with the median fee coming in at $402,812.
Navigating The Dangerous Waters of CFPB
What financial services firms can do to keep “the most powerful and least accountable federal agency in Washington” at bay.
>> Robert Long and Courtney
CFOs on the Move: Week Ending Oct. 9
Xerox, TheStreet, J.G. Wentworth, VASCO Data Security, Allscripts, Infinity Property and Casualty, Bridgeport Education, Farmer Bros., Vereit, Accuray
>> Joan Urdang
Alcoa’s Profit Drops 77% in Third Quarter
The aluminum company’s results disappoint in the first reporting period since it announced it would split into two companies.
Fed Official Sees Rate Hike This Year as ‘Appropriate’
The Atlanta Fed’s president believes the economy is still on a “satisfactory track” and a “liftoff decision” on rates could come in October or December.
Wal-Mart CFO to Retire After 5 Years on Job
Walmart International CFO Brett Biggs will replace Charles Holley amid challenging times for the retailer, whose stock has fallen 22% this year.
Restructuring Gaining Steam at European Banks
Credit Suisse, Standard Chartered and Deutsche Bank are among the banks that are overhauling themselves after losing ground to U.S. banks.
Blackstone Buys BioMed REIT for $4.9B
The $23.75-per-share deal gives Blackstone access to office buildings that cater to life science tenants in major markets.
Standard Chartered to Cut 1,000 Senior Managers
Under new CEO Bill Winters, the U.K.-based bank has been streamlining operations amid a slumping share price and tighter regulation.
For more of the best insights in finance, check out the CFO Whitepaper Library, here.
[contextly_auto_sidebar id=”1wmmAesl1f9co9rcx0rGPL9Dy7P7TLiw”]