Ceo

Privilege being mistaken for competence as study reveals no evidence to suggest companies run by state-educated peers underperformChief executives who attended private school are perceived as a “safer bet” by investors, according to a study, despite there being no evidence they perform or behave differently to their state-educated counterparts.Companies run by privately educated bosses tend to experience lower stock market volatility, even though there are no meaningful differences in their performance, decision-making or crisis management, the research from the University of Surrey found. Continue reading...

SS and Glass Lewis back shareholder resolution amid fears over power wielded by Jamie Dimon, who holds both rolesInvestors in JP Morgan have been urged to vote in favour of splitting the role of chief executive and chair at America’s largest bank, amid concerns over the power wielded by its billionaire boss Jamie Dimon.ISS and Glass Lewis, which issue advice to some of the world’s biggest fund managers on how to vote at annual investor meetings, have thrown their weight behind a shareholder resolution that would ensure two separate people hold the office of chair and chief executive “as soon as possible”. Investors are due to vote on the resolution at the bank’s annual general meeting on 19 May. Continue reading...

David Hinton will remain in post while successor is found, utility says, a week after group’s chairman quitThe chief executive of South East Water has announced plans to step down just a week after the group’s chairman quit in the wake of major supply outages in Kent and Sussex.The supplier said David Hinton, who joined the group’s board in 2013, would stay in post to allow an “orderly transition” over the summer while the group hunts for his successor. Continue reading...

Ryan Cohen selling tube socks and baseball cards after offering $55.5bn, although source of funds remains unclearThe CEO of GameStop, Ryan Cohen, said he was selling vintage video games, baseball cards, GameStop merchandise and a $14,000 pair of tube socks to help fund the company’s proposed $55.5bn acquisition of eBay.His platform of choice? eBay, of course. Continue reading...

• Anthropic released 10 financially-focused AI agents on May 5 that can automate tasks like building pitchbooks, auditing statements, and drafting credit memos for banks and insurers. • The company announced new data sources for its Claude AI model and revealed that 40% of its top 50 customers are financial institutions, making finance its second-largest revenue segment after technology. • CEO Dario Amodei predicted further software disruption across industries and called for legislation governing the release of powerful AI models, noting that Claude's Mythos model has likely identified tens of thousands of vulnerabilities.

Ryan Cohen said he didn’t understand questions about how the video games retailer could afford its $55.5bn bidSign up for the Breaking News US newsletter emailGameStop’s shares fell more than 10% on Monday as questions emerged about how the company would finance its surprise $55.5bn bid for eBay.In an interview with CNBC, Ryan Cohen, GameStop’s CEO, skirted repeated inquiries about how the video games retailer could afford the deal, saying he didn’t understand the questions. Continue reading...

• Alpaca, a brokerage API platform, named Rohit Mulani as President of Southeast Asia and David Grant as CEO of Alpaca Singapore. • The leadership additions aim to accelerate growth in the region's fintech and trading sectors. • This move strengthens Alpaca's presence amid rising demand for embedded trading solutions in ASEAN markets.