CP Group Acquires Iconic ‘Bank of America Plaza’ Skyscraper in the Heart of Atlanta

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Foto cedida. ..

CP Group announced the acquisition of Bank of America Plaza in the heart of Midtown Atlanta.

The 55-story Class-A skyscraper – an icon of the Atlanta skyline – was acquired in a joint-venture with funds managed by HPS Investment Partners, LLC.

Bank of America Plaza is a nationally recognizable office tower comprising over 1.35 million square feet of premium space. The property, which has been an enduring fixture of Atlanta’s Midtown submarket since its construction in 1992, boasts a prime location and a mix of both top-tier traditional and tech-focused tenants. It is currently occupied by anchor tenants including Bank of America and national law firm Troutman Pepper.

“We are proud to acquire one of Atlanta’s most recognizable landmarks in Bank of America Plaza,” said Chris Eachus, Partner at CP Group.

CP Group plans to launch a $50 million capital improvements program which will include a complete overhaul of the lobby, development of an on-site high-end restaurant and 100,000 square feet of customizable prebuilt office suites, as part of CP Group’s in-house flexible workspace program, worCPlaces.

Current amenities at Bank of America Plaza already include an expansive 10,000 square feet of newly renovated conference center space with breakout rooms, comprehensive fitness center, newly constructed food hall, on-site bank branch, and salon.

Bank of America Plaza is in the heart of the Midtown submarket – a fast-rising tech, commerce, and cultural hub. The area is home to Georgia Tech, as well as an expansive business community, which now includes 23 Fortune 500 companies – including Anthem Blue Cross Blue Shield, Google, Meta, Microsoft, and Norfolk Southern – as well as proximity to Atlanta’s Tech Square, which contains the highest density of startups and established innovators in technology in the Southeastern U.S.

“This asset stands to benefit from the exponential growth in economic development and corporate relocations to Atlanta, and more specifically Midtown. We look forward to applying our unrivaled operational expertise and deep knowledge of the Atlanta market to unlock even more value at this iconic property.”, added Eachus.

Finance Remains One of the Most Attractive Career Choices among Youngsters

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Pixabay CC0 Public Domain. Las finanzas se mantienen como una de las opciones profesionales preferidas entre los jóvenes

CFA Institute, the global association of investment professionals, has recently released the results from a survey it conducted on the career outlook of more than 15,000 current university students and recent graduates aged 18-25 from 15 markets. Globally, 58% of respondents still feel confident about their future career prospects in the wake of the COVID-19 pandemic.

“Traditionally stable fields, such as finance, remain attractive for graduates navigating these uncertain times”, the report points out. In fact, respondents across all 15 markets ranked this sector as one of the top five most valuable majors for finding a career. Overall, graduates felt that medicine/science was most stable and attractive, followed by healthcare and then education.

“Students and recent graduates are more flexible and confident about their prospects than ever. The pandemic forced many grads to reassess their expected career paths, and they have displayed remarkable resilience despite the circumstances. It is now incumbent on companies to adapt to the new realities, such as hybrid workplaces, in order to attract and retain the young talent we need to help lead us out of the pandemic”, said Margaret Franklin, CFA, President and CEO at CFA Institute.

She finds “encouraging” to see that many graduates still view finance as a stable and attractive career path; however, they currently don’t see the industry as making a positive social impact. “This issue is only going to increase in importance, and industry leaders need to make sure we are on the front foot in educating students about the positive impact an investment career can have for people and our planet,” Franklin concluded.

The survey shows that a majority of graduates believe their future career will be as good or better than their parents’ generation, despite the pandemic. Findings showed that those studying accounting and finance were particularly confident, with 80% believing their prospects are as good or better than their parents’ generation, compared to three quarters (75%) of respondents overall.

Skills and insecurities

Another primary concern for students is developing work-related skills during degree programs and after graduating. Those surveyed shared personal insecurities about this, with a quarter of respondents saying they feel underqualified for the job they want, and 22% saying they do not feel ready for the working world.

When approaching the current complex job market, students and graduates see value in further education. Nearly nine in 10 respondents feel that upskilling and post-graduate qualifications are important in the current job market, and 57% believe postgraduate qualifications/professional certification will give them an edge when looking for a job.

Working in an industry that makes a positive societal and environmental contribution ranks very important to recent graduates, with nearly nine in 10 respondents saying it’s an important part of their career choice. For CFA Institute, of concern is that only 8% of respondents consider a career in investment management as one in which they could make a positive environmental and societal impact. This finding shows that, to retain talent, the sector must do more to educate students around the positive impact they could have in an investment industry career. 

“Graduates may be unaware of the remarkable global trend towards environmental, social and governance (ESG) investing and the career opportunities a specialism in sustainability and ESG could offer them in the investment industry. We need to show them that investment careers can be rewarding well beyond the traditional attraction of higher salaries,” commented Peter Watkins, who leads the University Affiliation Program at CFA Institute in Europe, Middle East and Africa.

The Historic Bell of Columbus’s Santa Maria Flagship is for Sale in Miami

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Coinciding with Hispanic Heritage Month, the bell of the Santa Maria, the flagship that led Christopher Columbus’s expedition to the Americas in 1492, is up for sale in Miami. This is the only existing artifact related to the historic voyage to America and will be auctioned privately.

Discovered by the Italian naval officer and diver Roberto Mazzara in 1994 in the shores of North Portugal, the bell is considered to be at the center of an epic story filled with treasure hunting, political intrigue, and historical mystery. “Growing up with documentaries by Jaques Cousteau, I have always loved the mysteries of the seas and being a professional diver, I was able to join these two passions when the hunt for this bell was first presented to me almost 30 years ago. The auction will be a wonderful opportunity to give collectors a chance to own a unique piece of history,” said Mazzara, former officer of the Italian navy and expert in sub aquatic rescues.

The chemical and metallographic analysis of the University of Zaragoza, the archives of Indias in Seville and Simancas, and the documents that point to the Casa de la Contratación del Rey (a state entity that controlled and recorded from 1503 through the 18th century all maritime traffic between Spain and the Indies) all coincide on the origin of the bell. There is no doubt as to the authenticity of this historic gem weighing just under 31 pounds and just under 10 inches in diameter.

After the kidnapping of the bell and several legal battles, a Spanish court restored the bell to its rightful owner, Mazzara. Although the bell is considered to be “priceless”, as there is no comparable historical artifact available, it is estimated to be worth at least 100 million dollars by appraisers at Sotheby’s and Christie’s.

The bell is making its debut after being kept safe in an undisclosed location in Miami since 2006. Mazzara is making this historical object, the heart and soul of the Santa Maria, available to the collectors in a private auction.

Industry Players Achieve Their First Goal of $50,000 to Help Surfside Victims

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Fundraising GALA
. Foto cedida

On September 9 at 6:30 p.m. (ET), a fundraising dinner will be held at the Rusty Pelican, Miami and all proceeds will be donated to Global Empowerment Mission, which carries out three collections for those affected by the collapse of June 24 that left 98 dead and dozens without a home

The event organized by Funds Society, MFS and Ninety One continues to add contributors to help the victims of the Champlain Towers South collapse of the Surfside condominium.

So far we have raised US$50,000, but there is still a lot more we can do! We are now aiming to reach US$75,000. There are still available tables and new sponsors continue to be welcome.

15 firms from the asset and wealth management community in Southern Florida are already participating, divided in Diamond, Gold and Silver sponsorships.

Diamond:  Funds Society, MFS, Ninety One
Gold:         AXA Investment Managers, BNY Mellon Investment Management, Bolton Global
                  Capital, Brown Advisory, Insigneo, Janus Henderson Investors, Jupiter Asset Management, 
                  Schroders, Thornburg Investment Management
Silver:       RWC, Natixis Investment Management, Manulife Investment Management, Franklin Templeton

If you would like to participate in the event either as a corporate sponsor or as an individual, please contact Elena Santiso at elena.santiso@fundssociety.com or Alicia Jiménez at alicia.jimenez@fundssociety.com.

WhE is Launched to Promote Women´s Empowerment within the Hispanic Community in Florida

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Women Hispanic Executives Association (WhE) has announced in a press release that it has started working in Florida to promote women’s empowerment within the Hispanic community. This non-profit organization has been launched by female executives in leadership roles with a connection in South Florida.

“We are very excited to announce the launch of our association”, they pointed out in the statement, which also revealed that the founding members are credited with years of experience in different business areas and represent a wide variety of organizations.

“Proud of being women with Hispanic backgrounds, we look to WhE to be open to all genders and origins and believe in diversity as the fuel that sparks creativity and growth”, they highlighted. In this sense, their vision is to be a driving agent for change “by generating a social conscience that prioritizes professional capacities and skills” to access high responsibility positions, promoting diversity, competitiveness and sustainability of companies and institutions.

All in all, their mission is to promote the presence of Hispanic women in Boards and C-Suites. Founded by leading women in the international business community of Miami-Dade County, WhE plans to inspire Hispanic women and encourage them to “follow and fight for their dreams”.

To learn more about the founding members and what they do, you can visit their website in this link.

Santander Named Bank of the Year in Spain and Americas by The Banker Magazine

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Foto cedida. Santander, reconocido como mejor banco de España y América por la revista The Banker

The Banker magazine has granted Banco Santander the award for Bank of the Year in the Americas and Spain. The publication highlighted Santander’s “ability to innovate and to adapt solutions developed in one market to other businesses within the group”, as well as its ability to deliver returns, gain strategic advantage and serve their markets.

The Banker -founded in 1926- also emphasized Santander’s “outstanding commitment” to responsible banking, including its efforts to promote education, social welfare and financial empowerment with initiatives such as Superdigital, a platform which offers access to financial services to underbanked and individual micro entrepreneurs in Latin America, and Santander Ayuda, which promotes local projects for vulnerable people in Spain.

After receiving the recognition, Santander group chief executive officer, Jose Antonio Álvarez said that throughout 2020 their teams have worked hard to ensure they remain close to their customers in every market. “To be recognised by The Banker as the bank of the year across many of our markets is a great testament to their efforts in a challenging year”, he added.

The group’s diversification across both geographies and products remains one of the firm’s key strengths, with its South American region contributing 41% of underlying profit this year, North America, 20% and Europe 39%.

In Brazil, the magazine –which is part of the Financial Times group- recognized a number of innovation made by Santander during the year, including products like Sim, a fintech that provides quick and affordable loans; EmDia, a debt renegotiation platform that connects creditors with consumers in arrears, Santander Auto, a car insurance business or Pi: a fully digital investment platform, with an open architecture.

In Argentina, The Banker noted the new services and products the bank now provides for female entrepreneurs and younger customers. For example, iU, a new product with benefits designed specifically for young people. The bank also offers a comprehensive proposition which focuses on female entrepreneurs, owners of SMEs and professionals.

Lastly, in Spain, they pointed out the extraordinary measures Santander has made to support its customers during the COVID-19 pandemic: “Through a commendable mix of product innovation and business agility, Santander Spain has played an invaluable role in assisting the country’s businesses and consumers through an unprecedented economic and health crisis,” the publication said.

Calvert Research and Management Launches the Calvert Institute for Responsible Investing

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Pixabay CC0 Public Domain. still pandemia

Calvert Research and Management, a subsidiary of Eaton Vance, announced the launch of the Calvert Institute for Responsible Investing, an affiliated research institute dedicated to driving positive change by advancing understanding and promoting best practices in responsible investing.

Initially launched in North America, asset owners and investors in Europe and Asia will now have access to Calvert Institute’s work by connection to its online hub hosting its latest research as well as dedicated client events and webinars. “Through research, education and collective action, the Calvert Institute seeks to direct the power of the financial markets increasingly to addressing the leading global challenges of our time, including environmental degradation, climate change, racial inequality and social injustice”, said the firm in a press release.

As a complement to its internal research and education programs, the institute will partner with academic organizations, industry groups and other like-minded investors to create and sponsor third-party research focused on environmental, social and governance (ESG) issues of concern to responsible investors.

“For many years, Calvert has been a global leader in responsible investing and a catalyst for positive change through our research and engagement efforts. By creating the Calvert Institute, we broaden the scope of our mission and programs in support of responsible investors and society as a whole”, commented John Streur, President and Chief Executive Officer.

Meanwhile, Anne Matusewicz, a director of the Calvert Institute, said that they are “thrilled” to have this opportunity to contribute to the further development of responsible investing. “We want to help investors understand the role they can play in promoting positive change. Examining race and injustice, climate change and other critical issues will allow us to amplify voices that challenge the status quo based on research results and educate individuals and institutions at various stages of their responsible investment journey”, she added.

The Calvert Institute will continue Calvert’s well-established practice of working with leading academic professionals and supporting innovative research done at academic institutions, governance organizations and specialist research firms.  Current research projects include exploring and assessing forms of corporate governance, human capital management, inequality and the financial materiality of gender and racial diversity, ESG integration, public finance, sustainable practices and the global energy transition.

Four Principles of Financial Freedom to Teach Your Children

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Every hour of every day, parents are “teaching” their children about finances, among many other things, with their own behavior. That’s what Stephanie Mackara, President & Principal Wealth Advisor of Charleston Investment Advisors and author of the new book “Money Minded Families”, points out in a press release.

In her view, if you make a habit of spending unconsciously or irresponsibly, you run the risk not only of creating your own negative financial situation, “but also of passing your financially unhealthy behavior onto your children”. To teach kids healthy spending and saving habits that will prepare them for life, Mackara recommends practicing 4 financial principles:

1. Saving = freedom

“Many people opt out of saving when given the choice, either because they just don’t think they can afford to, or they don’t have a clear understanding of how savings will provide them with choice and freedom,” Mackara says. The solution for her is to think of it not as saving, but as purchasing freedom.

2. Model the behavior you want your kids to learn

“Every day brings opportunity to show children and young adults about the simple process of spending, saving, and investing, and also to demonstrate the values that guide your choices”. Mackara recommends to live in a place where you spend and save thoughtfully, where your behaviors and thinking about your finances contribute to your personal well-being, and “where anything is possible”.

3. Don’t rely on government or corporations to dictate what your retirement will look like

In her view, the financial foundation of the United States is no longer stable and the only way to fix it for the future generations is to “take charge and DIY (do it yourself)”.

4. Financial literacy is no longer optional

“We must shift our thinking from allowing our children to take minimal personal responsibility and acquire limited financial knowledge, to consciously increasing the level of education they receive relative to financial matters”. Mackara points out that the next few generations don’t have the luxury of waiting until age 50 or 60 to pay attention to their financial wellness and money management habits.

All in all, she thinks American citizens must become more conscious of their financial journey before, during, and after retirement. “We must work toward living a life of financial mindfulness and wellbeing in order to better enjoy our present lives as well as our future retirements”, she concludes.

This is What Going Back to the Office is Like for IPG

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Courtesy photos. harp

IPG openned its offices’ doors, both in San Diego and Miami, since last week. This reopening was the result of hard planning work that began the day they closed, seeking to flatten the curve.

Rocio Harb, director at IPG and in charge of the Miami office, spoke to  Funds Society about how their organization and having everything well planned before the opening were key to their return.

In her opinion, it is very important to “plan, talk to the building, talk to the employees, do research, see how daycares are working -since you cannot open and expect mothers to return to work when there is no day care or school.” ipg

Overall, they are “super excited to be back in the office. Despite the fact that working from home worked fine, being face-to-face and from an emotional point of view, knowing that you are reaching normality, makes you feel good,” she says.

The San Diego office opened with 10 people and Miami with three, and “little by little we expect to add between 5 to 10 in San Diego and in Miami, the doors are open for when advisors want to return.” The executive expects to be at its peak by mid-July, “if everything continues as before and there has not been a second wave of infections,” of course.ipg

When arriving at the building, some measures must be followed, for example, there can only be two people in the elevator. Upon entering the office one finds thermometers, gloves, masks and antibacterial gel. The process to follow is to put on hand sanitizer, then take your temperature and write down your name, date and temperature. Afterwards, you must change the mask and used gloves for new ones and only after that, access the office.

ipgThe premises were redecorated to maintain social distancing, including the use of plexiglasses in open areas, Harb tells us, adding that since they started preparing for the return, months ago, they have been able to build a significant stock of prevention supplies such as gloves, face masks and antibacterial gel.

Also, although most people in Miami have private offices, “when you leave your own office, to go to the bathroom or whatever, you should wear a mask.”

For Harb, going through the experience of working remotely was enriching from the point of view that “we learned that we worked quite well and that we could continue working from home, but opening was more emotional than necessary. Having a date to open an office and the advisors know that they can return serves everyone emotionally, ” she says, commenting that new tech tools have also been incorporated into the day-to-day business of the company.

For her, face-to-face was what she missed the most. “This office is three years old but the team has known each other for more than 10. We are friends, we are a family and the truth is that we missed each other, seeing each other, chatting and sharing our experiences. With San Diego we have a call with all the staff every two weeks so there is a lot of contact, but seeing us is totally different.”

To other companies planning to open, Harb reiterates that what worked best for them was to start planning early and have fairly detailed guidelines, which were sent to everyone beforehand followed up via call with all employees to answer their questions. “A lot of work must be done, like research, guidelines and surveys to give your coworkers peace of mind,” she concludes.

Yankee Stadium Will Turn Into a Giant Drive-In Movie Theater and Concert Venue

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Wallpaperflare CC0. Wallpaperflare CC0

This summer, drive-in movie theaters are making a comeback as the new way to safely enjoy movies and get a little bit of fresh air. NY state gave them the green light to re-open on May 15, so popular drive-ins like the Warwick Drive-In or Hyde Park Drive-In Theatre, already operate and offer online ticketing.

However, in an exclusive, Time Out New York announced that New Yorkers will be able to flock to none other than Yankee Stadium this summer for movie nights, concerts, and a new festival-like event known as Uptown Drive-In that will take place in their parking lot.

MASC Hospitality Group, the New York-based company behind the Bronx Night Market and the Bronx Beer Festival will be in charge of hosting this July’s Fridays through Sundays, an event where attendees can roll up in their vehicles and enjoy either a movie or live performance, while enjoying the festival’s car side dinner service, catered by popular city street vendors.

Marco Shalma of MASC Hospitality Group told Time Out New York that the stage will be elevated for live performances so attendees can watch from their car. In addition, the MC, performers, and hosts will stream from a PA system that can be listened to through car radios. MASC Hospitality is also planning to implement live interactive games, raffles, giveaways, date-night experiences, and a family-friendly brunch series.