Cresset Appoints Susie Cranston as Its First CEO Since 2020
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 hours ago
0mins
Source: Barron's
- Leadership Change: Cresset, a wealth management firm based in Chicago, is promoting Susie Cranston to CEO, effective April 15.
- Continued Involvement: Co-founders Avy Stein and Eric Becker will remain involved as executive co-chairmen of the firm.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy JPM?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on JPM
Wall Street analysts forecast JPM stock price to rise
19 Analyst Rating
11 Buy
7 Hold
1 Sell
Moderate Buy
Current: 289.920
Low
260.00
Averages
341.38
High
400.00
Current: 289.920
Low
260.00
Averages
341.38
High
400.00
About JPM
JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. The Company operates through three segments: Consumer & Community Banking (CCB), Commercial & Investment Bank (CIB), and Asset & Wealth Management (AWM). Its CCB segment offers products and services to consumers and small businesses through bank branches, ATMs, digital and telephone banking. Its CIB segment consists of banking and payments and markets and securities services, and offers a suite of investment banking, lending, payments, market-making, financing, custody and securities products and services to a global base of corporate and institutional clients. AWM segment offers investment and wealth management solutions. It offers multi-asset investment management solutions, retirement products and services, brokerage, custody, estate planning, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Amazon Plans Up to $42 Billion Bond Offering to Fund AI and Infrastructure
- Debt Financing Scale: Amazon is exploring a debt issuance that could raise at least $37 billion and potentially up to $42 billion, providing crucial funding for its investments in artificial intelligence and infrastructure.
- Diverse Issuance Structure: The debt offering may include as many as 11 different tranches, with maturities ranging from 2 to 50 years, demonstrating Amazon's flexibility and diversity in its financing strategy.
- Market Expectations: It is anticipated that U.S. bonds will dominate the issuance, raising about $25 billion to $30 billion, while another $10 billion may be raised through euro-denominated bonds issued across 8 tranches, further broadening its financing channels.
- Strong Underwriting Team: Major Wall Street banks, including Goldman Sachs, J.P. Morgan, and Citigroup, are expected to manage the debt issuance, indicating market confidence and support for Amazon's financing plans.
See More
Senator Blocks Confirmation of Fed Nominee Warsh Amid Investigation
- Confirmation Block: Senator Thom Tillis from North Carolina stated that he will not vote for any Fed nominees, including Kevin Warsh, until the criminal investigation into Fed Chair Jerome Powell is resolved, indicating strong dissatisfaction with the Fed nomination process.
- Political Context: Tillis believes that the investigation into Powell is politically motivated, particularly due to Powell's refusal to cut interest rates as quickly as demanded by President Trump, complicating the confirmation of Fed nominees.
- Evaluation of Warsh: Despite expressing admiration for Warsh's skills, stating he is 'already impressed' with his work, Tillis remains firm on not voting, reflecting a lack of trust in the current Fed leadership.
- Process Over Personal: Tillis emphasized that this is not about personal issues but rather about procedural integrity, indicating that he prioritizes the completeness and transparency of the nomination process, which could impact future Fed nominations and policy directions.
See More
Cresset Appoints Susie Cranston as Its First CEO Since 2020
- Leadership Change: Cresset, a wealth management firm based in Chicago, is promoting Susie Cranston to CEO, effective April 15.
- Continued Involvement: Co-founders Avy Stein and Eric Becker will remain involved as executive co-chairmen of the firm.
See More
JPMorgan Reveals Cash Distributions for Its ETFs
- Announcement of Cash Distributions: JPMorgan has announced cash distributions for its Exchange-Traded Funds (ETFs).
- Impact on Investors: This move is expected to benefit investors by providing them with immediate cash returns from their investments in the ETFs.
See More
Olaplex Faces Investor Confidence Crisis
- Stock Price Plunge: Since its IPO in 2021, Olaplex's stock has plummeted nearly 95%, currently trading below $1.50 with a market cap of approximately $1 billion, indicating a significant decline in the company's market competitiveness.
- Sales Performance Decline: In fiscal year 2023, Olaplex reported a 47.8% year-over-year decrease in net sales in the U.S. and a 74.8% drop in net income, reflecting severe challenges from weakened consumer demand and loss of market share to emerging brands.
- Brand Revitalization Challenges: Although new CEO Amanda Baldwin sees
See More
Sen. Mark Kelly Raises Alarm on AI's Impact on Jobs
- AI Job Threat: Senator Mark Kelly warns that big companies are signaling their intent to use AI to reduce their workforce, with many Americans already feeling the impact, highlighting the potential threat AI poses to the labor market.
- Policy Roadmap Unveiled: He introduced the 'AI for America' roadmap aimed at guiding corporations to prioritize worker interests and minimize job losses while ensuring fair contributions from businesses.
- Employment Data Insights: Data from the U.S. Bureau of Labor Statistics shows that 130,000 jobs were added in January, exceeding expectations; however, Kelly cautions that the rapid advancement of AI could soon negatively impact employment data, leading to job losses.
- Integration Risks: Kelly noted that JPMorgan has widely integrated AI, warning that technologies like autonomous vehicles could eliminate millions of jobs if not introduced gradually, further exacerbating instability in the job market.
See More
Amazon Plans Up to $42 Billion Bond Offering to Fund AI and Infrastructure
- Debt Financing Scale: Amazon is exploring a debt issuance that could raise at least $37 billion and potentially up to $42 billion, providing crucial funding for its investments in artificial intelligence and infrastructure.
- Diverse Issuance Structure: The debt offering may include as many as 11 different tranches, with maturities ranging from 2 to 50 years, demonstrating Amazon's flexibility and diversity in its financing strategy.
- Market Expectations: It is anticipated that U.S. bonds will dominate the issuance, raising about $25 billion to $30 billion, while another $10 billion may be raised through euro-denominated bonds issued across 8 tranches, further broadening its financing channels.
- Strong Underwriting Team: Major Wall Street banks, including Goldman Sachs, J.P. Morgan, and Citigroup, are expected to manage the debt issuance, indicating market confidence and support for Amazon's financing plans.
See More
Senator Blocks Confirmation of Fed Nominee Warsh Amid Investigation
- Confirmation Block: Senator Thom Tillis from North Carolina stated that he will not vote for any Fed nominees, including Kevin Warsh, until the criminal investigation into Fed Chair Jerome Powell is resolved, indicating strong dissatisfaction with the Fed nomination process.
- Political Context: Tillis believes that the investigation into Powell is politically motivated, particularly due to Powell's refusal to cut interest rates as quickly as demanded by President Trump, complicating the confirmation of Fed nominees.
- Evaluation of Warsh: Despite expressing admiration for Warsh's skills, stating he is 'already impressed' with his work, Tillis remains firm on not voting, reflecting a lack of trust in the current Fed leadership.
- Process Over Personal: Tillis emphasized that this is not about personal issues but rather about procedural integrity, indicating that he prioritizes the completeness and transparency of the nomination process, which could impact future Fed nominations and policy directions.
See More
Cresset Appoints Susie Cranston as Its First CEO Since 2020
- Leadership Change: Cresset, a wealth management firm based in Chicago, is promoting Susie Cranston to CEO, effective April 15.
- Continued Involvement: Co-founders Avy Stein and Eric Becker will remain involved as executive co-chairmen of the firm.
See More
JPMorgan Reveals Cash Distributions for Its ETFs
- Announcement of Cash Distributions: JPMorgan has announced cash distributions for its Exchange-Traded Funds (ETFs).
- Impact on Investors: This move is expected to benefit investors by providing them with immediate cash returns from their investments in the ETFs.
See More
Olaplex Faces Investor Confidence Crisis
- Stock Price Plunge: Since its IPO in 2021, Olaplex's stock has plummeted nearly 95%, currently trading below $1.50 with a market cap of approximately $1 billion, indicating a significant decline in the company's market competitiveness.
- Sales Performance Decline: In fiscal year 2023, Olaplex reported a 47.8% year-over-year decrease in net sales in the U.S. and a 74.8% drop in net income, reflecting severe challenges from weakened consumer demand and loss of market share to emerging brands.
- Brand Revitalization Challenges: Although new CEO Amanda Baldwin sees
See More
Sen. Mark Kelly Raises Alarm on AI's Impact on Jobs
- AI Job Threat: Senator Mark Kelly warns that big companies are signaling their intent to use AI to reduce their workforce, with many Americans already feeling the impact, highlighting the potential threat AI poses to the labor market.
- Policy Roadmap Unveiled: He introduced the 'AI for America' roadmap aimed at guiding corporations to prioritize worker interests and minimize job losses while ensuring fair contributions from businesses.
- Employment Data Insights: Data from the U.S. Bureau of Labor Statistics shows that 130,000 jobs were added in January, exceeding expectations; however, Kelly cautions that the rapid advancement of AI could soon negatively impact employment data, leading to job losses.
- Integration Risks: Kelly noted that JPMorgan has widely integrated AI, warning that technologies like autonomous vehicles could eliminate millions of jobs if not introduced gradually, further exacerbating instability in the job market.
See More
