Florian Bornhauser 龍永華

📉 Tough times for Swiss hospitals with margins dipping low and a need for high investments. Our whitepaper sheds light on how treasury can support through active liquidity management. Read the article and download the paper for all the details: https://go.ey.com/3VWOgAu Sven Goeggel, Stefan Schmid, Steffen Müller #HealthcareTransformation #Whitepaper #FinancialHealth

14

Deloitte Japanese Services Group EMEA🗾 There are many new Directives, laws and regulations which Japanese companies need to comply with across Europe. As an example, the entry into force of the AI Act is coming close with expected publication on 12 July. So, it’s time for a "Deep Dive into the EU AI Act”. Our article will give you further insights in the Act's impact on your organisation and help (kick-start) your further assessment and implementation journeys. The article is found here https://lnkd.in/eDbHNGCN on the website of our Deloitte AI Institute. The article provides a detailed analysis on #legal, #ethical, #quality and #risk aspects of the EU AI Act to help professionals and organisations navigate the complexities and opportunities in this regulatory landscape.  What can organisations do to ensure their AIs are ethically aligned and compliant with evolving AI legislation? How can AI frameworks be effectively and responsibly integrated into your organisation? And how can you navigate the broader challenge of AI in the regulatory landscape of #digitalregulations to benefit from the opportunities.  It’s time to action! 7月12日に発効が予定されているEU AI Actに関する記事を掲載しましたのでご案内いたします。本記事はEU AI Actの発効に際し、EUで事業を展開している企業への影響などを含んでおりますので、ぜひ対応準備にお役立てくださいませ。   #DeloitteJapaneseServicesGroupEMEA #EUAIAct #AI

10

Read my interview in English for Nikkei Asia.

46

1 Kommentar

Recent #inflation readings in Germany and the Eurozone push the European Central Bank to lower its inflation projections and consider cutting policy rates. Economists are also lowering long-term inflation expectations. Based on these trends, Kroll is lowering its German normalized risk-free rate from 3.0% to 2.5% when developing EUR-denominated discount rates, effective on March 31, 2024. Learn more: http://ms.spr.ly/6046choyk #CostOfCapital

2

First day of Beijing Auto Show 2024. My colleague Fabian Brandt, Global Head of Automotive and Industrial Goods at Oliver Wyman, provides valuable context and a first assessment on what to expect in this interview with CNBC. While it is a fact that the tectonics in the automotive industry are currently shifting, the role and future outlook of Chinese OEMs is still under development. The Auto Show is a good indicator on where we stand regarding new market entries, their respective tech stack and go-to-market approach. https://lnkd.in/exZguEBe

50

2 Kommentare

We're seeing a fundamental shift in how PE firms approach value creation. In our latest report, we interviewed around 200+ PE executives to understand how they're adapting to a changing market: a new focus on data-driven decision-making, operational efficiency, and technological innovation. Get the full story and see what's next for private equity: https://lnkd.in/dsTyHazC #PrivateEquity #ValueCreation #AMon

27

1 Kommentar

Not yet in the English language press as of now... (6/10 11 pm JST, 10 am EDT) Nikkei reports that Daiwa Securities Inc will acquire all shares of Aozora Bank held by investment companies affiliated with the former Murakami Fund (City Index Eleventh and others). The acquisition price is estimated to be around 25 billion yen. Daiwa Securities Group decided to form a capital and business alliance with Aozora Bank in May, and this acquisition will increase its shareholding in the bank to approximately 20%. The famous activist investor Mr. Murakami, together with his daughter Aya Nomura, had been accumulating a stake that was about 9% as of March this year. Around that time, Aozora Bank had posted a consolidated net loss of 49.9 billion yen. In mid-May, Daiwa Securities announced that it would underwrite a third-party allocation of new shares of Aozora Bank for approximately 52 billion yen. The two companies plan to collaborate in areas such as wealth management, real estate business and M&A projects.

9

Today we started our 5-day nexxworks China (Re)Discovery Tour from Hong Kong. You might be wondering what Hong Kong's future will look like. One thing is sure: Hong Kong is not looking back, but forward. The start-up scene is vibrant from FinTech to smart cities. My first impression was that Hong Kong government is more than committed to help startups to succeed. If you have a fantastic idea, you might very well get the free seed money you need. Our first stops included visits to InvestHK, Cyberport Hong Kong, and Animoca Brands. My second impression is that Hong Kong is the place to be for building crypto solutions, get into Web3 land or explore solid FinTech ideas. Some of the 2000+ startups at Cyberport made it to unicorn - like Animoca. My other feeling was that Hong Kong remains a great hub when you seek to address both manufacturing and supply chain from China's Greater Bay Area in combination with Financial industry talent and growing markets in South East Asia. A great first day to get prepped for our next stop on our journey to Shenzhen! #ChinaRediscoveryTour #Innovation #HongKong #Fintech #Startups 

79

2 Kommentare

BCG has just launched the first-of-its-kind M&A Sentiment Index, a new resource for all dealmakers. Whether you are a corporation, in private equity, or investment banking, this index offers a reliable, quantified view of the M&A market's trajectory. If you’re curious to know more, I recommend exploring the current index score and the M&A market’s medium-term trajectory in further detail here: https://lnkd.in/exU48ESX

9

Investment is the lifeblood of competitiveness, accounting for 70-80% of productivity growth. New McKinsey Global Institute research finds that European companies invest less per capita in productive assets, with large US corporations outspending their European counterparts by €700 billion annually. By prioritizing investment and taking bolder action to address barriers, Europe can attract domestic and foreign investment, boost productivity, and enhance competitiveness. This will be crucial for maintaining Europe's prosperity in the global economy.   Learn more: mck.co/europeinvestment   #GlobalInvestments #Competitiveness

15

CHINESE WALL: - it's a Investment terminology! Imaginary barrier restricting the flow of information between the Public side of the business (e.g. Sales and Trading) and the Private side (e.g. Investment Banking). chinese wall procedures are widely used and may soon become fundamental compliance requirements for all integrated securities firms. Firms that do not currently have such procedures should consider implementing them. They should consider including the following elements: 1) separate investment banking and brokerage subsidiaries or divisions that maintain separate records, 2) separate compensation systems for departments on different sides of the wall, 3) physical separation of operations, 4) monitoring of telephone calls between operations, 5) restricted access to files, 6) restrictions on transfers of personnel across the chinese wall, 7) restrictions and disclosure requirements for employees' securities transactions, 8) lists of stocks for which transactions are restricted, 9) internal audits, and l0) education of all employees. #investmentterms #investmentbanking #transaction #fundmanagement #funding

5

I found our CEO Christoph Schweizer's recent comments on how to face rising geopolitical risk very interesting. You can read his take in full below, following the launch of #BCG’s Center for Geopolitics, which you can learn more about here too. -> https://lnkd.in/epYKBdvf The post-Cold War era of free trade and global cooperation is over, forcing CEOs - especially those of international companies - to confront a fragmented world that echoes back nearly one-hundred years to the time between the two World Wars. The cost and risks associated with fractured global supply chains and slowing global trade have been well reported. Other significant risks and realities receive less attention: > Shifting Balance of Power. The Global South is rising, as evidenced by the expansion of the BRICS nations to include Egypt, Ethiopia, Iran, the UAE, and potentially Saudi Arabia. Thailand and Malaysia recently announced their desire to join, as well. > Electoral Uncertainty. More than 70 countries representing half the global population have already or will go to the polls this year in elections that put the economy and nationalist policies in the spotlight. The rematch in the US and upcoming elections in France and the UK could further change the economic and political order. > New Forms of Protectionism. Protectionist policies have expanded beyond trade to foreign direct investment, altering global operating footprints. 31 OECD nations screened inbound investments in 2023, up from 13 in 2010. Anticipating the Future The point of scenario planning is preparation more than prediction. By understanding these scenarios, CEOs and their teams can minimize disruption and take advantage of opportunities, such as commodity price swings, that less geopolitically savvy companies might miss. To be prepared, CEOs need to build geopolitical muscle, for example in the form of an in-house team to monitor geopolitical events and change direction when warranted. This team should likely have specialists in international relations and global policy, risk management, and other relevant disciplines. The team can tailor scenarios to its industry and specific company context and develop signposts that serve as early indicators—such as escalation in regional military conflicts, protectionist legislation, or the appointment of a new powerful policymaker. This team can also create plans to respond swiftly. As Louis Pasteur said, “Chance favors only the prepared mind.” Until next time, Christoph Schweizer Chief Executive Officer

8

1 Kommentar

Check out my latest thoughts on the diversifying global automotive supply chain and its implications for the automotive players and policymakers #China #US #SEA #India #Mexico #Automotive #Mobility #Supplychain

6

An executive at a Swiss holding company, Daniel Walchli, has been sentenced without prison time for his involvement in a scheme to assist U.S. taxpayers in concealing over $60 million in assets through a fraudulent setup called the "Singapore Solution." Walchli pleaded guilty last year to conspiring to defraud the U.S. He played a key role in creating a structure for Privatbank IHAG's American clients to evade scrutiny by tax authorities. As a member of the executive board of Zurich’s IHAG Holding, which owned Privatbank, Walchli was implicated in charges unsealed in 2021 along with two IHAG bankers, Swiss financial firm Allied Finance Trust, and two of its executives. Walchli confessed to conspiring with Privatbank executives and others from 2008 to 2014. They enabled clients to keep secret accounts despite increased U.S. government enforcement and investigation of accounts held by American taxpayers in Switzerland. Prosecutors revealed that the bankers approached a select group of high-net-worth clients to help them continue hiding assets from the U.S. government. They accomplished this by transferring funds to accounts in other countries and then repatriating the funds to Switzerland in new accounts nominally held by a Singapore-based asset management firm. In response to such scandals, Singapore introduced stringent new regulations in October 2022. Companies now must maintain detailed records of nominee shareholders and significant controllers, aiming to enhance transparency and prevent misuse of the financial system. While taking steps to minimise your tax is a no-brainer, tax evasion is illegal, and the increase in cross-border information sharing between governments is catching a lot more of these schemes—and rightly so. #TaxEvasion #Fraud #Singapore

16

Just launched: BCG’s M&A Sentiment Index—a monthly pulse check on dealmakers' willingness to engage in mergers, acquisitions, and divestitures over roughly the next six months. For the first time, decision-makers in corporations, private equity firms, and investment banks have a quantified and statistically reliable indication of where the M&A market is heading. The index’s interactive features allow users to view sentiment globally, as well as across individual regions and sectors. Leaders can now use the index, along with BCG’s proprietary insights on deal drivers and trends, to make informed judgments about the M&A market’s trajectory in the near to medium term. Step into the future of M&A and see what the index score is telling us today: https://lnkd.in/divHkFwb

15

Just launched: BCG’s M&A Sentiment Index—a monthly pulse check on dealmakers' willingness to engage in mergers, acquisitions, and divestitures over roughly the next six months. For the first time, decision-makers in corporations, private equity firms, and investment banks have a quantified and statistically reliable indication of where the M&A market is heading. The index’s interactive features allow users to view sentiment globally, as well as across individual regions and sectors. Leaders can now use the index, along with BCG’s proprietary insights on deal drivers and trends, to make informed judgments about the M&A market’s trajectory in the near to medium term. Step into the future of M&A and see what the index score is telling us today: https://lnkd.in/dNjUqd9N

3

I’d like to introduce you to BCG’s M&A Sentiment Index. This first-of-its-kind index gives you a reliable and quantified look at the M&A market's future over approximately the next six months – the ideal tool for corporations, private equity firms, and investment banks looking to see where the market is heading. By leveraging 15 M&A drivers and AI to analyze executive and investor sentiment, the index offers invaluable insights into market dynamics. Here’s one - the current index value of 78 is below the ten-year average of 100. However, the good news is that the M&A market has already recovered significantly from the low point of 62 in August 2023. Find out more about the current market sentiment on M&A here: https://lnkd.in/gcy8jymc

18

Read the new @Accenture Competitive Switzerland 2024 report to find out which industries in Switzerland will benefit most from the new technology, why augmenting employees – what we call a people-centric approach to generative AI - brings the biggest value and what Swiss companies need to do to scale generative AI across their entire business. Download the full report here: https://accntu.re/4aC72SW #CompetitiveSwitzerland #GenAI

30