More Finance Chiefs Resigned in 2020 Than in Previous Years

Erwin Oropesa

More chief financial officers resigned from large U.S. companies in 2020 than in previous years, as the pandemic put pressure on corporate balance sheets and the executives who manage them.

Thirty-seven companies in the S&P 500, including

General Motors Co.


HP Inc.,

last year said that their CFOs would quit, up 27.6% from 2019. The figure for 2020 is higher than the average number of resignations over the past decade, which totaled about 25 a year, according to data provider MyLogIQ. Resignations are typically voluntary, as opposed to terminations, but the language in corporate filings can sometimes be ambiguous.

That is contrary to what recruiters had expected in the early days of the pandemic—some predicted executives would stay put—and comes after years of heated competition for finance talent.

For many CFOs, the pandemic added to an already high workload and long hours. Their roles have become more central in

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Your guide to eight years of finance leaks

Erwin Oropesa

The FinCEN Files are another big leak of secret files, detailing the failure of major global banks to stop money laundering and financial crime. They also expose how the UK is often the weak link in the financial system and how London is awash with Russian cash.

The files include more than 2,000 suspicious activity reports (SARs), filed by financial institutions to the Financial Crimes Enforcement Agency, or FinCEN, a part of the US Treasury Department. They also include 17,641 records obtained through Freedom of Information (FOI) requests and other sources.

They were obtained by BuzzFeed News which shared them with the International Consortium of Investigative Journalists (ICIJ) and 400 journalists around the world. Panorama has led research for the BBC.

The files are the latest in a series of whistleblowing-led investigations that have rocked the world of finance in recent years.

So let’s round up the other major leaks

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Portman Ridge Finance (NASDAQ:PTMN) Shares Have Generated A Total Return Of Negative 41% In The Last Five Years

Erwin Oropesa

Portman Ridge Finance Corporation (NASDAQ:PTMN) shareholders should be happy to see the share price up 11% in the last month. But over the last half decade, the stock has not performed well. After all, the share price is down 75% in that time, significantly under-performing the market.

View our latest analysis for Portman Ridge Finance

There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.

Portman Ridge Finance has made a profit in the past. However, it made a loss in the last twelve months, suggesting profit may be an unreliable metric at this stage. Other metrics may better explain the share price move.

The most recent dividend was actually lower than it was

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