EBC EXPANDS SERVICES FOR HNWIS, INSTITUTIONAL INVESTORS WITH SECOND AFSL

KUALA LUMPUR, Oct 16 (Bernama) -- In a significant move toward expanding its global asset management footprint, EBC Financial Group (EBC) has successfully obtained an Australian Financial Services Licence (AFSL) for Asset Management from the Australian Securities & Investments Commission (ASIC).

This acquisition strengthens EBC's ability to provide sophisticated investment solutions to institutional investors, professional investors, and high-net-worth individuals (HNWIs) worldwide, according to a statement.

By securing the AFSL, EBC is not only deepening its presence in Australia but also enhancing its capacity to serve clients across global markets, aligning with its broader strategy to offer diversified and regulated asset management services on a global scale.

EBC Country Head of Australia, Kris Wang said the acquisition of this licence reflects the company’s commitment to maintaining the highest regulatory standards while broadening its asset management capabilities.

“We are dedicated to delivering a diversified and robust investment portfolio designed to meet the varied requirements of high-net-worth individuals and institutional investors. We see immense potential in Australia's growing high-net-worth segment.

“Our goal is to leverage our global expertise to help investors optimise their portfolios through diversified and innovative investment strategies. We also plan to expand our services to include family office management and other global investment products in the near future,” said Wang.

The new licence, issued to EBC Asset Management Pty Ltd, strengthens the group’s existing offerings. It complements EBC’s existing AFSL for General Financial Advice, enhancing its ability to deliver a comprehensive range of investment strategies across asset classes such as real estate, fixed income, equities, and alternative investments.

The new licence empowers EBC to offer specialised services exclusively for wholesale clients globally, including general financial product advice on managed investment plans (excluding investor-directed portfolio services) and securities.

Additionally, EBC is now authorised to facilitate financial product transactions, including issuing, applying for, acquiring, varying, or disposing of interests in managed investment schemes and securities. This also extends to offering custodial services that provide enhanced protection and transparency for client assets.

With the new asset management licence, EBC continues to solidify its global presence, offering premium financial services to wholesale clients in both developed and emerging markets.

-- BERNAMA

H2O.ai Partners AI Verify Foundation To Ensure Safe AI Deployment

KUALA LUMPUR, Oct 9 (Bernama) -- Open-source leader in generative artificial intelligence (AI) and machine learning (ML), H2O.ai has announced a collaboration with AI Verify to ensure the safe deployment of AI.

As a part of the collaboration, H2O has launched an initiative alongside the foundation to provide clients the ability to test and govern their AI systems using H2O’s platform and further the global open-source community.

In addition, H2O has agreed to contribute benchmarks and code to AI Verify’s open-source Project Moonshot toolkit for large language model (LLM) application testing and provide support for tests recommended by AI Verify on its ML and LLM Ops platform.

“H2O has been committed to the open-source community since our founding and we believe every organisation should have a strategy to safely test AI.

“Working with AI Verify clearly aligns with our values and we look forward to continue leading the charge for responsible AI adoption,” said H2O.ai chief executive officer and co-founder, Sri Ambati in a statement.

Meanwhile, AI Verify Foundation executive director, Shameek Kundu said: “We believe that appropriate tools and approaches to AI testing is critical to enable adoption of AI for society, business and citizens. We are very pleased to have H2O, an active member of the foundation, as a partner in this journey.”

H2O’s contribution to AI Verify’s Project Moonshot provides one of the world’s first LLM Evaluation Toolkits, designed to integrate benchmarking, red teaming, and testing baselines.

The toolkit helps developers, compliance teams, and AI system owners manage LLM deployment risks by providing a seamless way to evaluate their applications’ performance, both pre- and post-deployment.

This announcement comes on the heels of H2O’s AI 100 List, which recognises the top 100 individuals driving innovation and impact in AI across industries and sectors globally.

-- BERNAMA

ARTHUR D. LITTLE EXPANDS AUSTRALIAN OFFICE WITH APPOINTMENT OF FRANCO SANTUCCI AS PARTNER AND ADDITION OF NEW TEAM

^{Franco Santucci has joined Arthur D. Little as a Partner (Photo: Business Wire)}


MELBOURNE, Australia, Oct 8 (Bernama-BUSINESS WIRE) -- Arthur D. Little (ADL) today announced an expansion of its Australian office, with the appointment of Franco Santucci as Partner and Andrew Sampson as Principal, supported by a new team consisting of Sandro Voegeli, Principal, and Richard Song, Senior Advisor. Based in Melbourne, Franco joins from energy consultancy Energise Partners, which he co-founded in 2020 with Sandro Voegeli, while Andrew was previously at EY. They will focus on developing the firm’s business in the energy sector, working with clients on growth strategy, business model reinvention and portfolio optimization.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241007724680/en/

 

Franco brings over 30 years of consulting experience to ADL. Prior to Energise Partners, he was Global Head of Power & Utilities for EY Parthenon. He has also held senior partner roles at EY and Deloitte, and has worked at AT Kearney and McKinsey. He has been involved with several startups, and advised on investments in renewable and sustainable companies. Franco is well known within the energy & resources industry and business community.

Andrew is an experienced transformation, supply chain strategy, turn-around, cost reduction and profit improvement advisor, with consulting and line management experience across diverse industries including utilities/energy, consumer goods, retail, mining and government in Australia, New Zealand, North America and Europe. He has over 25 years experience, working for consultancies such as EY and Deloitte as well as within large organizations including HJ Heinz and Mayne Pharma.

Franco and Andrew will be supported by Sandro Voegeli and Richard Song. Sandro has over 25 years of management consulting and industry experience with a focus on energy and utilities, previously working at boutique consulting firm, Energise Partners, which he co-founded, as well as at Deloitte and EY Parthenon. Richard has over a decade of experience in investment banking (JP Morgan & Citi) and buy-side institutions (HRL Morrison & ESR Australia) where he was involved in some of the largest transactions in the Australian market. He specializes in financial modelling, preparing companies to raise capital and providing investment analysis & advice.

Michael Kruse, Energy & Utilities Practice Leader at ADL, comments, “Our new team, led by Franco Santucci, brings deep experience and proven expertise in the energy sector to our Australian office, enabling us to expand our practice to meet the needs of a major local industry undergoing radical change. With the appointment of Franco, we have ambitious plans to further grow our local team, supporting clients across the Australian energy, utilities and resources sector.”

Franco Santucci, Partner at ADL, adds “The Australian energy sector is undergoing unprecedented change, driven by decarbonization and the rise of renewable energy. This is dramatically reshaping the industry and company strategies, and I look forward to working with our new team, and the wider global energy practice at ADL, to help our clients seize the opportunities that this transformation brings.”

Franco holds a Master in Management Technology, MMT from Melbourne University Business School and a Bachelor of Science, Statistics from Monash University. Andrew has an MBA from Melbourne University Business School and a Bachelor of Mechanical Engineering from the University of Melbourne.

For further information, please visit www.adlittle.com

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20241007724680/en/


Contact

Cate Bonthuys
Catalyst Comms
+44 7746 546773
bonthuys.cate@adlittle.com

Source : Arthur D. Little

Recursion Obtains FDA Approval For AI-Discovered Cancer Treatment Clinical Trial

KUALA LUMPUR, Oct 3 (Bernama) -- Recursion announced the United States (US) Food and Drug Administration (FDA) has cleared an investigational new drug (IND) application for a Phase 1/2 clinical trial of REC-1245, a new chemical entity for the treatment of biomarker-enriched solid tumours and lymphoma.

According to Recursion in a statement, the Phase 1/2 clinical trial will evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics, and potential monotherapy efficacy of REC-1245, and is expected to initiate in the fourth quarter of this year.

Its Co-founder and Chief Executive Officer, Chris Gibson said: "In under 18 months, leveraging some of our newer chemistry tools, Recursion rapidly progressed REC-1245 from novel target biology to preclinical drug candidate, more than twice the speed of industry average.”

Recursion identified the novel regulatory role of RBM39 associated with CDK12 using its maps of biology and first reported this relationship in early 2023 during Recursion’s research and development (R&D) and investor event, Download Day.

The company believes the modulation of RBM39 may be associated with a therapeutic effect in certain biomarker-enriched solid tumours and lymphoma.

Meanwhile, its Chief R&D Officer and Chief Commercial Officer, Dr Najat Khan explained that RBM39 degraders may offer a promising therapeutic approach for patients with solid tumours, particularly those with limited treatment options.

“This mechanism provides new opportunities for targeting tumours, which are often resistant to conventional treatments. By advancing this research, we aim to deliver a critical option for patients facing significant unmet needs, ultimately improving their prognosis and quality of life,” she added.

Additionally, Recursion estimates that the initially addressable population for this potential therapeutic to be more than 100,000 patients in the US and European Union Five (EU5), collectively, France, Germany, Italy, Spain, and the United Kingdom.

REC-1245 is a potent and selective RBM39 degrader with a potential first-in-class profile. Preclinical data support that RBM39 degradation induces splicing defects that downregulate DNA Damage Response (DDR) networks and cell cycle checkpoints.

-- BERNAMA

Study Finds 100 Pct Singapore's Marketers, Agencies Confronted With Data Challenges

KUALA LUMPUR, Oct 3 (Bernama) -- Lotame, the global technology company that makes customer data smarter, faster, and easier to use for digital marketers, revealed in its new report that 100 per cent of marketers and agencies surveyed in Singapore encounter barriers in data orchestration and utilisation.

Fielded by Cint, its report ‘The State of Data Collaboration: A Global Perspective’ found that data challenges are ubiquitous, as is planned investment in marketing and data technology, with data collaboration platforms delivering multiple tangible benefits.

In a statement, Lotame Chief Executive Officer, Andy Monfried said orchestrating and activating data remains a major struggle for marketers and agencies, both inside and outside their organisations, but they are finally overcoming this barrier through a combination of technology and a shift in mindset.

The findings from the survey also showed that 78 per cent of respondents recognise the urgency of leveraging first-party data, which is eight per cent higher than the global average.

In addition, more than half (53 per cent) of marketers and a quarter of agencies are fully reliant on third-party cookies, and yet a portfolio approach to identity solutions has emerged, with an average of 3.1 options used in tandem to maximise reach with no clear frontrunner.

Furthermore, 34 per cent of respondents anticipate a reduction in programmatic spend compared to 28 per cent expecting an increase, though agencies are twice as optimistic as marketers.

Meanwhile, 99 per cent of respondents plan to adopt new marketing technologies and data technologies, with around a third of agencies and marketers not planning on retiring any of their current technologies in the near future.

The study highlighted that clean room adoption is strong, with three in five respondents currently using the technology. Respondents also, however, report a range of challenges, from lack of data overlap to ID scale and required expertise, with an average of 2.3 challenges reported.

Despite being a relatively new technology, data collaboration platforms have been adopted by almost two-thirds (64 per cent) of marketers and a third of agencies, with an average of 2.3 positive changes to marketing operations.

Lotame commissioned industry research into how marketers and agencies are addressing data challenges and opportunities in a post-cookie digital advertising landscape, surveying more than 1,200 marketing and agency professionals across six global markets, namely Singapore, Australia, Brazil, Mexico, the United Kingdom, and North America, between June and July.

-- BERNAMA

AM BEST GEARS UP FOR INDONESIA RENDEZ-VOUS CONFERENCE IN BALI, NEXT WEEK

KUALA LUMPUR, Oct 4 (Bernama) -- Global credit rating agency, AM Best announced that it will sponsor, exhibit and lead a session at the 28th Indonesia Rendez-Vous Conference, taking place in Bali, Indonesia, from Oct 9 to 12.

Its associate director, analytics, Chris Lim is set to give a presentation on what AM Best’s market segment outlook for Indonesia’s non-life insurance segment will be heading into 2025 during the event.

According to AM Best in a statement, his presentation, which is scheduled for Oct 10, will also discuss the challenges and developments in the marketplace.

Lim has been with the credit rating agency since 2019 and leads a team of credit rating analysts responsible for assessing the creditworthiness of (re)insurance companies, with a particular emphasis on the South and Southeast Asia markets.

Themed “Securing Stability & Unravelling Risk Impacting the Insurance Landscape”, this year’s Rendez-Vous conference attendees can also visit the exhibition area on Oct 10 and 11 to receive more information about AM Best, its role in the insurance industry and the resources it offers to insurance professionals, including Best’s credit ratings.

AM Best is sponsoring the Indonesia Rendez-Vous as a news partner, in which the conference is held each year and is one of the leading events of the General Insurance Association of Indonesia.

-- BERNAMA

MENLO SECURITY SURPASSES US$100 MLN ARR, LEADING SECURE ENTERPRISE BROWSER MARKET

KUALA LUMPUR, Oct 2 (Bernama) -- Menlo Security, the pioneer of Secure Enterprise Browsers announced the company has surpassed US$100 million in annual recurring revenue (ARR) and achieved 50 per cent growth in the last 24 months. (US$1=RM4.15)

According to a statement, more than 1,000 global enterprises and government agencies rely on Menlo Security to provide a safe and secure browsing experience, on any browser and any device.

Its chief executive officer and co-founder, Amir Ben-Efraim said hitting US$100 million in ARR is a powerful validation of its vision and a direct reflection of the trust its customers place to secure and manage their browsers.

“Enterprises have recognised the need for browser security and our secure enterprise browser solution provides high efficacy browser security combined with a transparent user experience that is easy to deploy and manage,” he said.

Menlo Security holds US$350 million in total contract value (TCV), raised US$260 million in total funding, and expects to be cash flow positive in 2025, while achieving an impressive 110 per cent in net retention rate (NRR) and growing its gross revenue retention (GRR) by 97 per cent in the last 12 months.

Digital transformation has revolutionised the workplace, enabling online collaboration across organisations. In February, Menlo Security launched the industry’s first cloud-delivered Secure Enterprise Browser solution, delivering a comprehensive approach to protecting enterprise users where they work and securing applications from Internet-borne attacks.

Furthermore, in a recent report, Gartner predicts that by 2030, enterprise browsers will be the core platform for delivering workforce productivity and security software on managed and unmanaged devices for a seamless hybrid work experience.

The Menlo Secure Enterprise Browser solution enables the workspace of tomorrow, providing comprehensive enterprise browser security across desktops and mobile devices to protect users, applications, and data, all while allowing customers to continue using their browser of choice.

Menlo is trusted by major global businesses, including eight of the 10 largest financial institutions in the world, 24 Global Fortune 500 companies, and large government institutions in the United States and abroad.

-- BERNAMA