The US economy got off to a rough start in Q1 from the increases in the benchmark federal funds rate by the Federal Reserve to curb persistent inflation. The approval of another quarter-point interest rate in the May FOMC meeting marked the central bank’s tenth consecutive rate hike in 14 months.
The fastest rate-raising cycle in 40 years, unhedged interest rate and market risks, and fear of contagion contributed to the recent collapses
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The financial services industry could be doing more to manage their exposure to the significant risks posed by a climate change phenomenon that is only worsening. Neglecting the micro and macro intricacies of climate change and failing to incorporate its associated risk into a risk agenda and/or framework can result in grave consequences that could otherwise have been avoided or mitigated industry will, at least initially, be disproportionally impacted by climate change owing to their relative size and portfolio compositions, failure to act accordingly and plan for the future can and will lead to adverse consequences.
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In the last few years investment firms and banks have been facing anemic revenues and more stringent regulations cutting into trading revenues. In response to this economic climate, leveraging business transformation programmes such as Process Efficiencies and Relocation Strategies (near-shoring and off-shoring) has become a key component in the long-term growth and survival of organizations. MCG shares how we helped a client understand the costs and benefits of these strategies and how to effectively implement them.
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