Banks should not fall victim to focusing on short-term results and should instead work to deliver long-term shareholder value, particularly in a world increasingly focused on ESG, according to a veteran of the investment community. In the episode, Fred Cannon, the former director of research and head of equity strategy at KBW, who will soon join the FASB, shares his views on bank stocks, how bankers should talk to investors and the threat from fintech.

Episode link: https://play.headliner.app/episode/8496312?utm_source=youtube

KPMG was happy to present this Rencontre OFF about the importance of ESG criteria for fintech investments.

The speakers provided us with insights on how ESG influence investment decisions from the lenses of a public investor, a fintech startup and an expert in ESG investing.

Speakers

Moderator
– Marc Plamondon – Audit Partner and Fintech Leader, KPMG in Quebec

Panelists
– Isabelle Giguère – Chief Financial Officer, Payment Source, Member of the investment committee at Luge Capital

– Anne-Marie Monette – Senior director, Responsible investment, Public Markets, PSP Investments

– Katie Dunphy – Executive director, Sustainability and Impact services, KPMG

To learn more:
https://home.kpmg/
https://www.finance-montreal.com/

DISCLAIMER: The opinions expressed in this video are that of the participants and do not reflect those of the organisation

Digital Insurance & CX Tech Panel Discussion: Creating Value and Finding Purpose – Integration of ESG Considerations

• To what extent are P &C insurers revisiting their business models for climate risk?
• What progress is being made with insuring the previously ‘uninsurable’ demographics?
• To what extent does a robust and explainable ESG strategy differentiate insurers for customers?
• How are insurers calculating their impact across E, S and G?
• What are the regulatory risks and how can we prepare for reg change?

Chair:
Amir Sethu, Head of Sustainability and ESG, MS Amlin

Speakers:
Michael Gregory, Head of Underwriting Strategy and Delivery, RSA Insurance
John Keppel, UK Chief Sustainability Officer, Zurich

JPMorgan Chase is buying fintech start-up OpenInvest, an investing platform backed by Andreessen Horowitz and founded by former employees of Bridgewater Associates. CNBC’s “Squawk Box” crew discusses. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

JPMorgan Chase wants to take the sustainable investing trend to the next level.

To do that, the biggest U.S. bank by assets has agreed to buy OpenInvest, a San Francisco-based start-up backed by Andreessen Horowitz and founded by former Bridgewater Associates employees, CNBC has learned exclusively.

It’s the third acquisition of a fintech start-up by JPMorgan since December, when the bank bought 55ip, a company that automates the construction of tax-efficient portfolios. This month, JPMorgan said it was acquiring U.K.-based robo-advisor Nutmeg to help boost its overseas digital banking efforts.

CEO Jamie Dimon said last year that the bank would be “much more aggressive” in searching for potential takeovers to help it bolt on capabilities and fend off threats from fintech and Big Tech players alike. The traditional banking industry has begun to lose ground to fast-growing, disruptive players including PayPal and Square, while Alphabet and even retailer Walmart have each announced intentions in consumer finance.

The bank’s latest move, for deal terms that couldn’t be determined, will help JPMorgan’s financial advisors customize clients’ investments in ESG, the broad category that includes environmental, social and governance factors. ESG funds have attracted record inflows this year, pushing global assets under management to almost $2 trillion.

JPMorgan approached OpenInvest when the start-up was close to wrapping its Series B funding round, according to people with knowledge of the situation who declined to be identified speaking about private negotiations. The company, which was one of the first venture-backed start-ups to have the public benefit corporation designation, had raised about $25 million in funding to date.

While OpenInvest had begun to gain traction in accumulating assets, the co-founders said they ultimately chose to join JPMorgan to accelerate their mission to bring ESG investing into the mainstream. The company already has $2.4 trillion in ESG-related assets under management, and its massive consumer bank has customers in half of American households.

“We caught them early in their journey, but I would say just from studying what they built and the trajectory they were on, there’s no doubt in my mind that they were on a quick path towards greater impact and a much larger level of AUM,” said Mike Camacho, JPMorgan’s head of wealth management solutions.

The co-founders hinted that their technology could ultimately be used at JPMorgan beyond the investing realm. In the future, it could conceivably help ensure that customers’ purchasing decisions and charitable donations align with their values, they said.

“The scope of this opportunity stretches across financial services,” Levin said. “We face an opportunity to fundamentally change finance and the way that humans interact with money.”

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