D CEO Awards Honors Managing Director Brad Purifoy | Investment Banker of the Year 2021
Los Angeles June 16, 2021 Brad Purifoy of Corporate Finance Associate Worldwide (CFAW), an international middle-market investment banking firm, was honored by D CEO as 2021 Investment Banker of the Year. Mr. Purifoy was involved in a unique deal that set him apart from other nominees.
Mr. Purifoy worked with his client for more than five years on an exit strategy, but before they were able to execute a transaction, the business owner became gravely ill. The business owner’s wife, although she was not intimately involved in the business, stepped in to handle the details. Brad worked with legal counsel, the owner’s spouse, and the buyer to protect his client’s legacy during the most trying times.
“People tend to think of businesses as their corporate identity, just products or services. The fact of the matter is, businesses are owned and run by people”, said Brad Purifoy, Managing Director of CFA and the lead dealmaker on transaction. “M&A transactions don’t just involve dollar signs they are about serving the needs of people who build great businesses. This transaction served as a good reminder for company owners to not only plan for eventual M&A transactions, but also for contingencies in business and life that could arise.” D CEO, partnering with Association for Corporate Growth, honored the professionals whose activities set the standard for M&A transactions on May 6th.
About Corporate Finance Associates
Celebrating more than 65 years of service, Corporate Finance Associates Worldwide is a leading investment banking firm, with offices across North America, Europe and India providing middle-market companies with a wide range of financial advisory services and access to capital resources. More information is available via the Internet at www.cfaw.com.
Oracle has delivered two new cloud-native services that simplify the complex, fragmented processes that have hamstrung corporate banking. With Oracle Banking Corporate Lending Process Management Cloud Service and Oracle Banking Credit Facilities Process Management Cloud Service, banks can speed the completion of everyday activities, such as loan and credit processing. Built on the performance and scalability of Oracle Cloud Infrastructure (OCI), the offerings help banks grow their business and deliver exceptional customer service whilst reducing operational costs.
In the coming years, its estimated that corporate banks will derive up to 30%[1] of their revenue from digital channels, said Sonny Singh, executive vice president and general manager, Oracle Financial Services. This requires banks to accelerate automation and digitization of paper-heavy processes so they can focus on retaining and expanding customer relationships. Built on our deep industry expertise, these new cloud-native solutions provide banks a quick, componentized option to modernize loan and credit management activities.
Process management made easier in the cloud
With the services, corporate banks can streamline operations through automated workflows with the flexibility to customize various lifecycle processes. The solutions also offer persona-specific operational dashboards to enable bankers with real-time customer insights for smarter and faster decision-making.
Oracle Banking Corporate Lending Process Management Cloud Service enables banks to meet customers on-demand and custom-financing needs by accelerating the loan process from initiation through to closureall without sacrificing user experience or transparency in the application process.
Corporate credit is one of the longest processes in corporate bankingit can take months for validation. Oracle Banking Credit Facilities Process Management Cloud Service can reduce that cycle to just a few days. Banks can accelerate credit origination and servicing, pre-qualify credit lines, track exposures to customers in real-time, and mitigate business risks.
These new services follow Oracles recently introduced corporate banking solutions for supply chain financing, liquidity management, and virtual account management. Each solution runs on the high-performance OCI Container Engine for Kubernetes and automated with OCI Resource Manager and Terraform across multiple Oracle Cloud Regions, which means global banks benefit from the highest levels of system availability, scalability, and data security.
Additional Information
Learn more about Oracle Corporate Banking Solutions here.
Learn more about Oracle Cloud Infrastructure here.
[1] Boston Consulting Group Executive Survey as reported in Business Chief Europe: https://www.businesschief.eu/corporate-finance/corporate-banking-sector-must-embrace-digital-transformation-says-new-report-1
About Oracle Financial Services
Oracle Financial Services Global Business Unit provides clients in more than 140 countries with an integrated, best-in-class, end-to-end solution of intelligent software and powerful hardware designed to meet every financial service need. Our market-leading platforms provide the foundation for banks and insurers digital and core transformations and we deliver a modern suite of Analytical Applications for Risk, Finance Compliance, and Customer Insight. For more information, visit our website at https://www.oracle.com/industries/financial-services/index.html.
About Oracle
Oracle offers suites of integrated applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
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A global research on board governance during the Covid-19 crisis indicated that two-thirds of company directors reported an increase of time commitment by 50 percent or more.
The Hong Kong Institute of Directors (“HKIoD”) shares the 2020-2021 Survey Report of the Global Network of Director Institutes (“GNDI”), which analyses survey responses fielded in the second half-year of 2020 from a diverse pool of nearly 2,000 directors from 17 director institutes worldwide. HKIoD is a member institute of GNDI, an international alliance of leading director institutes representing more than 150,000 corporate board members.
Chairman of HKIoD Dr Christopher To noted, “This GNDI Survey Report provides timely snapshots of how boards worldwide are navigating the economic and social impacts of the Covid-19 crisis. How our fellow directors recalibrated their board foci and strategies generated good references not just for now but also for the foreseeable future, as the impacts of Covid-19 will linger for some time. Globally directors must act and have acted quickly in changing. This crisis poses opportunity to rethink, revalue, restructure, restart and rebound,”
Highlights of global key findings
Outlined below are highlights of the report’s key findings: — Directors gave high marks to themselves and their management teams. Many credited prior scenario planning that provides a good foundation for an effective response to the Covid-19 crisis. — There will be an increased emphasis on risks in 2021 and beyond. The crisis will likely have the most significant long-term impact on how boards engage on strategy and risk and assess employee health and safety. — Virtual board meetings work, but they are second best. Virtual board meetings are here to stay.
Challenges and responses
While the GNDI Survey Report publishes Global Aggregates, HKIoD has prepared a supplementary paper, which places side by side the findings for significant issues in Global Aggregates, Asia & Oceania Subset (“A&O”) and Hong Kong Subset. The comparison presents findings in Hong Kong ranking order, for readers with interest in the Hong Kong scenarios vis-a-vis regionally and globally.
The top challenge perceived from the Covid-19 crisis was “recalibrating strategies to the new market or environment” (HK: 61%, A&O: 61%, Global: 56%). This is followed by “ensuring effective governance in decisions affecting employees, investors, customers, suppliers and communities” and “responding to changing government policies and guidelines”.
As to how boards responded to the Covid-19 crisis, the top answer was “our board has been able to govern effectively in the new environment” (HK: 80%, A&O: 84%, Global: 89%). Many boards have established ad-hoc or special crisis committee as “a valuable component of the board’s crisis response plan”.
Compared to directors of other places, Hong Kong directors seem to have outperformed in identifying mobility restrictions and pandemic risk as “top risk on the board’s risk dashboard 12 months ago”. This is probably due to prior experiences in the 2003 SARS and the 2019 social unrest. On challenges posed by the crisis, Hong Kong directors placed a higher ranking than other directors in “approving or making decisions quickly” as an important challenge to be addressed and therefore attributed higher emphasis to “ensuring the quality of decision making on fast-moving issues” as an area of governance with long-term impact.
The topmost challenge by far in adapting to meetings in a virtual setting was “losing nonverbal communication between directors” (HK: 61%, A&O: 64%, Global: 68%). This was followed by the challenge from technological problems disrupting the meeting.
CEO of HKIoD Dr Carlye Tsui, who is also a member of the GNDI Executive Committee, remarked, “Globally, directors were confronted with the need to master technology in adapting to virtual meetings. This may be a wake-up call for them to enhance their digital readiness. Measures in meeting the challenges in the Covid-19 crisis are to a great extent related to digital transformation. Digital readiness can react to transformation better; a board that is digital enlightened leads digital transformation in a faster speed.”
Long-term impacts
On areas of governance perceived to be affected in the long term, many boards would proceed with “incorporating a new set of broader risks in scenario planning”. Boards would work on “ensuring the ongoing health and safety of employees”.
Perceived by the directors surveyed, there is likelihood of change in the long-term trajectory of trends. The respondents anticipated “increased focus on ESG, sustainability and stakeholder value issues” (HK: 75%, A&O: 71%, Global: 67%). They also predicted “slowing down of globalization through increased protectionism”. They placed importance on “incorporating data analytics” and “incorporating expertise of outside experts” into the board decision-making process. Other trends perceived to pick up momentum included “increased board diversity”, “the emergence of professional director”, “increased competition for talent” and “increased corporate repurposing”.
Dr To further remarked, “We must continue to be braced for severe business hardship. We must learn from the past experiences and ride on the transformation of business mode.”
Lessons learned and going forward
From the survey, the lessons learned included “digital board engagement as a helpful tool for board operations moving forward” (HK: 82%, A&O: 87%, Global: 89%). The respondents indicated that their board would “incorporate a broader set of risks into the information dashboard of the board”, “ensure greater communication with a broader set of stakeholders” and “increase director education on factors identified as barriers to the organisation’s Covid-19 response”, among other things.
Dr Tsui added, “A competent director must pursue continuing professional development. The survey findings provide HKIoD with useful reference for enhancing education to facilitate directors in the new normal.”
HKIoD promotes excellence in director practices through its annual major project of Directors Of The Year Awards, honouring role models among individual directors and the collective boards. Continuing in its 21st anniversary, the awards project this year takes on the theme “Leading in New Normal”. Nominations for the awards are open to the public.
The full report of the GNDI Global Survey 2020-2021 [http://www.hkiod.com/gndisurvey2020.pdf] and the HKIoD supplementary paper [http://www.hkiod.com/gndisurvey2020/sup.pdf] are available for download free of charge. Nominations of candidates for Directors Of The Year Awards 2021 [http:www.hkiod.com/dya-current.html] are welcomed.
About The Hong Kong Institute of Directors The Hong Kong Institute of Directors (“HKIoD”) is Hong Kong’s premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. HKIoD is a member institute of the Global Network of Director Institutes, a worldwide alliance of leading director institutes. http://www.hkiod.com Tel: (852) 2889 9986 Fax: (852) 2889 9982
About The Global Network of Director Institutes GNDI is an alliance of leading director institutes from around the world. A global programme of reciprocity helps directors and their boards to unlock access to director resources around the world. GNDI comprises 22 member institutes including HKIoD, representing over 150,000 directors and other governance professionals around the globe. http://www.gndi.org
Media Enquiries: The Hong Kong Institute of Directors Joanne Yam +852 2889 1414/[email protected] Odessa So +852 2889 4988/[email protected]
Strategic Public Relations Group Limited Brenda Chan +852 2114 4396/[email protected] Chak Yau +852 2114 4395/[email protected]
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About the Author:
Ashley Naumann is a female empowerment consultant and owner of Beauty and a Boss. Her company specializes in helping women level up in their 9-5 or transition from their 9-5 to entrepreneurship through her course LEVEL UP: Become a Corporate Queen! She also helps small businesses with their pricing and sales strategyeverything from defining a better nice to pricing a membership site and gaining an audience with the right buyers. Her non-working activities include playing with her wonderful pup Merlin and living the best Florida life with her fiancé Nick. She is also an avid powerlifter and Nespresso addict. For more information about Ashley or Beauty and a Boss, reach out to info@beautyandaboss.com or go to www.beautyandaboss.com.
Los Angeles, CA – April 13, 2021- Corporate Finance Associates Worldwide (CFAW), a leading international middle-market mergers and acquisitions advisory firm, announces completion of its 77th transaction in the transportation and logistics industry. CFA represented Daryl Flood Inc. (DFI) in its sale to Suddath, combining two of the most well-known and respected relocation and logistics companies in the industry.
Daryl Flood Inc. is an award-winning logistics and relocation company founded by the company’s namesake, Daryl Flood, in 1982. Headquartered in Coppell, Texas, Daryl Flood provides worldwide logistics, transportation, and relocation services to corporate, retail and residential clients.
Suddath Companies, headquartered in Jacksonville, Florida has been providing relocation and logistics services to a global customer base for over 100 years.
Transaction Information
Effective March 31, 2021 Suddath Companies acquired the operations of Daryl Flood Relocation and Logistics in a private transaction. The terms of the transaction were not disclosed. Terry Fick and Brad Purifoy of Corporate Finance Associates Worldwide Dallas office provided exclusive investment banking representation to DFI. When asked about the transaction, Mr. Fick commented, “DFI’s Home Delivery and Last Mile logistics operation adds a new dimension to Suddath, and the combination of two major relocation brands offer tremendous customer and operational synergies.”
About Corporate Finance Associates Worldwide
Corporate Finance Associates Worldwide, a leading international middle-market investment banking firm with 19 offices in the US, 16 in Europe, plus offices in India and Mexico, has been providing middle-market companies with a wide range of merger and acquisition advisory services and access to capital resources for over 65 years. More information regarding Corporate Finance Associates Worldwide and its services is available at www.cfaw.com.
