ABB, a technology leader in electrification and automation, has reached an agreement to sell its Power Conversion division to AcBel Polytech Inc. for $505 million in cash. The transaction is subject to regulatory approvals and is expected to be completed in the second half of 2023. Upon closing, ABB expects to record a small non-operational book…
Wall Street and Silicon Valley are coming together to build digital asset management solutions focused on connecting institutional investors to the crypto ecosystem. Earlier this year, former HSBC trader Ashutosh Goel and former Meta Asia executive Supreet Kaur paired up to build xalts, an investment management and technology firm focused on driving real-money institutional participation…
Citi announced plans to hire more than 100 employees to join its global Internal Audit function, designating Jacksonville, Florida and Wilmington, Delaware as the newest strategic locations for the function in the United States. The open roles will offer prospective candidates the opportunity to gain valuable experience as part of a global team and develop…
New York-based AlphaSense, the market intelligence and search platform, has announced its $180 million Series C financing round led by Viking Global Investors and the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs), joined by Morgan Stanley, Citi, Bank of America, Barclays, Wells Fargo Strategic Capital, Cowen Inc., and AllianceBernstein, as well as…
Amberdata, the digital asset data company, has announced that it has raised $15 Million Series A led by Citi. Franklin Templeton, Galaxy Digital, Rovida Kruptos Assets, and executives at GoldenTree Asset Management also participated in the capital raise. They are joined by HWVP who previously led Amberdata’s Series Seed. Amberdata will use the funds to…
Citi, a global bank, has announced the appointment of Balaji Nuthalapadi as Head of Operations & Technology (O&T), Citi South Asia, effective May 1. In this role, he will lead O&T for India, Bangladesh, and Sri Lanka. Balaji has over 24 years of experience with Citi. He joined India’s retail lending business in Chennai in…
COVID-19 has taken its toll in every region, every country and every community. The accessibility of vaccines and therapeutics are not ubiquitous across the globe, leaving vulnerable populations disadvantaged. Mastercard announced a commitment of $25 million to help secure equitable access to and distribution of vaccines across the world. Today’s philanthropic commitment builds on the…
Illusive Networks, a New York-based leader in active cyber defense and deception solutions, announced it has raised $24 million in Series B1 round of funding. New investors alongside existing investors – Spring Lake Equity Partners, Marker, New Enterprise Associates, Bessemer Venture Partners, Innovation Endeavors, Cisco, Microsoft, Citi and others participated in the fresh funding round. …
ICON, an Austin-based developer of advanced construction technologies including robotics, software, and building materials, announced it has completed a $35 million Series A round of financing led by Moderne Ventures. Constance Freedman, Founder and Managing Partner of Moderne Ventures and Khan Tasinga, Director at Palantir Technologies, join the Board of Directors. Other investors that participated…
TierPoint, a leading provider of secure, connected data center and cloud solutions at the edge of the internet, announced it has reached an agreement that will result in new, preferred equity investments totaling $320 million, which the company expects to be closed and funded by mid-April. The $320 million of preferred equity is led by…
Citi India has announced the appointment of Jane Ong as the Head of Corporate Affairs for Citi South Asia. In this capacity, Jane will be responsible for media relations, managing external and internal communications as well as Citi’s Citizenship portfolio. She will report to Pramit Jhaveri, CEO, Citi India. Pramit Jhaveri, CEO Citi India said,…