The Banker Shorts – Week ending April 28, 2023

Last week we showcased several high-profile CEO interviews including the CEO of CaixaBank and Carbonplace as well as the end of our Views on… series looking at embedded finance. In other topics, the gender pay gap in fintech has yet to offer better news, while Natixis CIB promotes an innovative ‘multi-boutique’ approach, Amaroq explores for a green revolution, Latam experiences increased supervision and Nomura predicts an M&A upturn.

Opinions ranged from the gender pay gap, climate change and banking calamities and our global coverage shines a spotlight on Saudi Arabia, Vietnam and Costa Rica. 

As always The Banker Board reported on people moves, The Banker Midweek looked at the week that was, and a new podcast looked at human trafficking. 

Trending topics 

• CaixaBank’s carefully laid plans for success – The Banker Editorial | Click here to read

CEO Gonzalo Gortázar talks to The Banker about lessons from CaixaBank’s regional expansion, its recent integration with Bankia, and how it plans to support clients through a potential downturn.

• Banks helping banks combat climate change – Philippa Nuttall | Click here to read

He is having “the most fun”, he says, fulfilling a dream that dates back to his college days in Colorado, when, after taking a class in environmental economics, he planned “to drive positive environmental outcomes through a trading mechanism”.

Such a job “never really materialised”, says Scott Eaton, CEO of Carbonplace, “and then this comes along at the end of my career”. His new role allows him to “take what I know about trading and apply it to a market where I don’t know anything, and to learn”. 

“I pinch myself; this is the best job out there at the moment,” he concludes.

• Views on… embedded finance: “As a regulated player… we’ve got great credibility in this space” – Liz Lumley | Click here to read

Banking was previously provided in a very clunky way, with limited scalability and flexibility. But BaaS? You can plug it in and out, you pay per use. It offers retailers less risk — it’s not a big tech build. They can provide these financial services without large expenditure. It really opens the space up. I think that’s important.

• Higher gender pay gap in fintech driven by lack of transparency – Anita Hawser | Click here to read

A recent survey published by EY and Innovate Finance, “Changing the face of UK FinTech: from glass ceiling to open doors: championing equality and career progression for women in FinTech”, found that a lack of salary transparency and low female representation in senior roles are driving a higher-than-average pay gap in fintech.

The EY report estimates that the gender pay gap — the difference between men and women’s median hourly earnings — in fintech is around 22%, compared to 14.9% for all types of employees across all UK industries, based on Office for National Statistics data. 

• Natixis CIB’s innovative ‘multi-boutique’ approach – Andrew MacDowall | Click here to read
• Amaroq explores metals for the green revolution – Shanny Basar | Click here to read
• Will increased supervision strengthen Latam credit co-operatives? – Barbara Pianese | Click here to read
• Nomura’s ‘Team Italia’ predicts M&A upturn – Edward Russell-Walling | Click here to read

Opinion sharers

• Can we wait 140 years for gender parity? – Joy Macknight | Click here to read

The striking figure that sums up the Official Monetary and Financial Institutions Forum’s 2023 Gender Balance Index (GBI) is 140. It will take 140 years to reach gender parity in leadership positions across the financial industry, according to the think tank’s research.

In the words of Camille Blackburn, director of wholesale buy-side at the UK Financial Conduct Authority, speaking at the launch event in London: “The report is not pretty, but it is compelling.”

• Banking sector calamities and emerging investment trends – Cate Ambrose | Click here to read
• Climate change and finance: how two seemingly separate worlds connect – Nuno Fernandes | Click here to read
• Banks can have an impact on decarbonisation, research shows – Barbara DeLollis | Click here to read

Globe at a glance

Our Middle East and Africa editor, John Everington, looks at the changing state of Saudi Arabia after a recent visit. 

• Oil boost complements Saudi Arabia’s economic reform agenda – John Everington | Click here to read
• Saudi Arabia’s booming capital markets – John Everington | Click here to read
• Saudi banks reap the benefits of oil and housing booms – John Everington | Click here to read

Contributor Peter Janssen focuses on Vietnam, one the of the most promising areas of growth in Asia. 

• Vietnamese banks struggle with property sector downturn – Peter Janssen | Click here to read
• Vietnamese private sector’s slow growth trajectory – Peter Janssen | Click here to read
• KBank hopes to ride digital take-off in Vietnam – Peter Janssen | Click here to read
• Vietnam’s economy takes a double hit – Peter Janssen | Click here to read
• Finance minister: Costa Rica’s fiscal consolidation on track – Barbara Pianese | Click here to read

Bankers on the move

• The Banker Board – April 27, 2023 – Simon Duffy | Click here to read

Watch and listen

• Podcast: Mobilising finance against human trafficking | Click here to listen

Our first episode focuses on the growing global problem of human trafficking or modern slavery, which the Association of Certified Anti-Money Laundering Specialists’ CEO Scott Liles describes as one of the biggest crises of our time. Women and children are being trafficked in growing numbers globally.

But what role can financial services play in the identification of suspicious activity linked with human trafficking, and helping victims of trafficking get back on their feet again by providing them with access to financial services?

• Video: The Banker Midweek | April 25, 2023 | Click here to watch 

Your weekly look at what the industry is talking about, offering information bankers like you need to know. This week, deputy editor Liz Lumley and Latin American editor Barbara Pianese talk about high-ranking interviews, what really keeps Latam central bank governors up at night, the ongoing repercussions of ‘The Banking Saga’, the end of the gilded age of start-up culture, and our mutual disappointment with the failure of certain Spacs.