Month: January 2021

Washington Biz Journal reporter Senovitz moves to retail/hospitality beat

Dan Sernovitz

Washington Business Journal reporter Dan Sernovitz is moving to the retail and hospitality beat.

He previously covered commercial real estate.

Sernovitz has been with the paper since September 2011. He previously spent five years at the Baltimore Business Journal covering real estate. And before that, he worked at the Hagerstown (Maryland) Herald-Mail for a year and the Lansdale (Pennsylvania) Reporter for three years.

Economic development reporter Alex Koma is also adding sports business to his beat.

 

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Banks must rethink branch closures, FCA says

The City regulator has asked banks to reconsider branch closures during the coronavirus lockdown as these could have “significant consequences” for vulnerable customers.

The Financial Conduct Authority (FCA) said that banks should consider the impact of the coronavirus restrictions on their ability to comply with regulatory guidance on closing branches, which include treating customers fairly and consulting vulnerable and hard-to-reach customers.

In September, the City watchdog introduced a new requirement on banks to assess customer needs carefully and consider the availability and provision of alternative arrangements, such as online banking, where closures or conversions are planned.

Under the guidance, the FCA expects banks to ensure vulnerable and hard-to-reach customers are aware of the proposals and are able to contact banks. The regulator also called on banks to engage with customers, where appropriate, to understand their needs and consider how they will be affected by branch closures.

The regulator said that

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Desert Sun biz reporter Daniels leaves for nonprofit

Melissa Daniels

Melissa Daniels, a business reporter for The Desert Sun in Palm Springs, California, is leaving to join a non profit.

Daniels is becoming communications manager for Life to Rise, a Coachella Valley nonprofit that’s working on housing and economic opportunity efforts to ensure all residents are healthy, stable and thriving.

Daniels will coordinate with community-based organizations and partners to ensure continuity in Lift to Rise’s work and mission throughout the entire Coachella Valley region. 

“Constant updates are crucial in making our efforts a success,” said Lift to Rise CEO Heather Vaikona in a statement. “We are grateful to welcome Melissa to the Lift to Rise team, whose experience and passions meet our vision and goals.”

Daniels has been with the paper since August 2019. Since March 2020, she covered the economic fallout of the COVID pandemic.

She previously worked at Report for America and spent two years

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Working from home ‘not sustainable’ as collaboration and culture take a hit

Working from home has been surprisingly successful for global banks during the first year of the coronavirus pandemic but is losing its effectiveness, two prominent industry executives said on Tuesday at a virtual meeting of the World Economic Forum.

“It’s remarkable it’s working as well as it is, but I don’t think it’s sustainable,” said Barclays Chief Executive Jes Staley.

JP Morgan Chase’s head of asset and wealth management Mary Erdoes said: “It is fraying. It is hard.”

For employees to focus, Erodes said: “It takes a lot of inner strength and sustainability (without) the energy that you get from being around other people.”

Staley said: “It will increasingly be a challenge to maintain the culture and collaboration that these large financial institutions seek to have and should have.”

He predicted that more people would come back to offices to work, but with flexibility to work from home.

Erdoes said

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