How much a medical procedure costs depends on where it is performed. Giving birth at a teaching hospital, for instance, costs about $2,000 more than doing so at a community hospital. Cataract surgery at a clinic affiliated with a hospital could cost double than what it would cost at independent surgery center.These are just some of the examples cited in a June 11, 2018 New York Times article examining variations in health care costs and the benefits and drawbacks of efforts aimed at shifting some procedures from expensive settings, such as teaching hospitals, to cheaper ones, including outpatient clinics and patients’ homes.The article mentions a recent study published in Health Affairs that looked at 11.8 million hospitalizations and found that patients who seek care at academic medical centers are less likely to die compared with patients who are treated at nonteaching hospitals. The study included several authors from Harvard T.H. Chan School of Public Health, including Laura Burke, an instructor of health policy and management, and Ashish Jha, senior associate dean for research translation and global strategy and director of the Harvard Global Health Institute.While the study found that mortality rates were lower among all patients treated in teaching hospitals, the greatest difference was seen in relatively healthy patients. Read Full Story
After six grave sites, 133 coins and over 10,000 fragments of animal bone, archaeologists with assistant professor of classics David Hernandez’s excavation team hit pay dirt, or rather, pay pavement, in the form of an ancient Roman forum. This summer, Hernandez and a team of Notre Dame undergraduates embarked on a six-week excavation trip to Butrint, Albania, where they made the discovery. Hernandez shared his thoughts on the trip during a lecture Wednesday night. Since the 1920s archaeologists have probed the site, producing evidence of a Greek sanctuary of Asclepius, a medieval house, a Venetian castle and now, a Roman forum, he said. The forum was a rectangular plaza surrounded by government buildings in ancient Rome, and its discovery holds key insight into the urban history of the area of Butrint, Hernandez said. Before the most recent excavation began, a small corner of the forum had already been discovered, and the goal was to find just how far it expanded eastward. The discovery of the intact pavement slabs was a critical moment, he said. “The pavement slabs themselves, just flush and intact, it’s easy to take it for granted in retrospect, but really, we had no idea if these pavement slabs were going to be preserved this far away from where we had found them before,” Hernandez said. “The entire pavement was preserved, and I knew at this moment, that this is one of the best preserved Roman forums in the provinces of the Roman Empire. There just aren’t forums like this that are preserved in this way.” On the last day of the excavation, the team made a rare find. “Right at the very end of the excavation, we found the head of a goddess figurine, which was a votive offering that dates to the fourth century B.C.,” Hernandez said. “It was really a beautiful find, in the 11th hour, and it was one of these electrifying moments.” Butrint, recognized by the United Nations Educational, Scientific and Cultural Organization (UNESCO) as a World Heritage Site in 1992, is located in an area of Albania where ancient maritime trade was prominent. The region’s well-preserved layers of archaeological artifacts dating back to the 7th century B.C. were slowly unearthed during the excavation.
Nicholas Afoa Hakuna matata! Native New Zealander Nicholas Afoa, a vet of The Lion King in Australia, is to take on the role of Simba in the West End production in May. The hit tuner is playing at the Lyceum Theatre.Other new members of the cast joining next month include: Etian Almeida, Jonathan Andre, Janique Charles, Zinhle Dube, Sandile Gontsana, Kwesi Jeffers, Stephanie Lo, Sadia McEwen, Khaya Maseko, Daniel Monteiro, Nosipho Nkonqa, Dominique Planter, Antoine Murray-Straughan, Kayode Salina and Ricardo Walker.Based on the popular Disney film, The Lion King opened on Broadway on November 13, 1997, and won six 1998 Tony Awards in 1998, including Best Musical. The show has spawned 19 productions worldwide and has been translated into seven different languages. It has been running for 17 years in London. View Comments
The high-elevation Roan Mountain balds are a winter wonderland for cross-country skiing and mountaineeringThe first time I drove up to Carver’s Gap in the winter in search of skiable snow, I should’ve known that “Nordic Nirvana,” as I later called it, was hidden just behind the two feet of spring snow being chewed up by rowdy four-wheelers on the road up Roan Mountain. A crowd of crazies from back in the hollers seemed to rule the roost. I slid back into my 1977 Subaru and drove back to Boone.That was 1978, back when telemarks were finessed in twisty 75 mm “boots” that were more like bedroom slippers. I didn’t see any evidence of backpackers or skiers at the Gap. In the 5,700 foot notch on the Appalachian Trail between the towns of Bakersville and Roan Mountain, winter seemed to be a secret backcountry season. One of the snowiest, most pristine spots in the South, now widely known as a premier portion of the Appalachian Trail, was a recreation area aimed at seeing how deep you could stick your Jeep and whether your winch could get you out.The winter rewards of skiing and mountaineering on the Roan Massif are better known now, but you still have to look beyond the forest to see the secret runs and routes that hide in the trees. From Roan Mountain at Carver’s Gap to Elk Park, the 13-mile, massive, meadow-covered ridge from Round Bald to Hump Mountain is formidable. But one thing’s for sure: a lot more people are trying.Bald BeautyLast winter, I spent weeks on end with snowshoes and skis—and the Roan Mountain balds area was a frequent destination. Almost any time I went, I saw other skiers and snowshoers, with good gear and serious destinations set in their sites. The scene reminded me more of what you see in Colorado than the norm in North Carolina.One day last February at Carver’s Gap, I tried to do it all—tackle the short list of options that always start for me just beyond the gate on the road up Roan. For twenty-plus years now, the Forest Service has tried to keep the summertime road to the rhododendron gardens gated during the winter, as much to keep four wheelers from freezing to death as to protect the road’s eight feet of skiable snow for people like me (ten inches is all you need). I took a right just above the gate, joined the wide, former horse and buggy road of the A.T., and skied up the switchbacks in a winter wonderland. Maine? New Hampshire? It could have been either.Luckily last winter’s snow sparked an informal network among serious skiers. I ended up on a Wikispaces telemark skiing site hooking up with other skiers, in part to keep the trail open. While Grandfather Mountain and some other trail systems were closed all winter with heavy ice damage, skiers with folding saws invariably kept Roan’s trails open.At the height of land just under the Roan High Knob Shelter, I almost turned around to ski back down the A.T.—one of the South’s classic, truly rousing tele runs. Skis were sticking out of the snow by the shelter side trail—it’s a steep short walk to the cabin, recently refurbished and a nice winter option for a rest or overnight.I decided to continue on the A.T., down the shorter but no less twisty, exciting section to a higher junction with the summit road. Waves of snow smothered the trail. I sailed on and off the crests, doing jump telesfrom one side of the drift to the other and blasting through clouds of powder.When I slid out onto the road, skiers were above and below me. Some snowshoeing backpackers were heading higher (flats all across the crest make great campsites). The evergreen-sheltered loop of the Rhododendron Gardens National Recreation Trail, with awesome views of the Black Mountains from an observation deck, was only another 15 minutes away. So was the start of the Cloudland Trail, one of the best Nordic trails in North Carolina. It undulates and snakes all across the crest of the ridge, ending at the observation deck on Roan High Bluff. It too is a great tele run on the way down.I grabbed the meadow view across the road, then turned and flew down, gliding fast through powdery tracks with just an occasional double-pole. On flatter sections, a single stride netted awesome glide.Back at the gap, I wanted to at least head up the A.T. to the north for the view from Round Bald. A lot of people were going that way, many not even trying to stay on the nicely switchbacking A.T., choosing instead to snowshoe over the massive drifts all across the bald. I strapped skis to pack and snowshoed straight up, stopping to take pictures and video. One guy repeatedly packed his downhill boards to the top and skied back down to the gap, jumping off big drifts.A group of backcountry snowboarders were atop the bald. When I got there, their tracks went straight down into nearby woods. I switched to the tele skis and had a truly spectacular run back to the road. With sewing machine legs, I racked it all on my car and couldn’t believe the winter carnival atmosphere of smiles, laughter, a cold day, bright sun, and great snow.It was like a time warp. If you weren’t there “back in the day,” or at least, back in mine, you won’t remember that Carver’s Gap has seen that movie before.Nordic NirvanaA tad more than thirty years ago, a crude advertisement appeared in The Mountain Times announcing a cross-country ski business that became an unusual footnote in the ski history of the United States. The ad read “Footslogger’s announces High South Nordic Guide Service.” The “largest staff of Professional Ski Instructor of America cross-country teachers in the South” were ready to take you on “day, overnight and custom ski tours” to the “snowiest summits in the South.” An evening program in early December 1980 promised a slide show, snacks, and excitement.Three snowy, late 1970s winters sparked exploding interest in cross-country. High South Nordic Guides led trips from Footsloggers then hit upon an idea—Why not start a cross-country ski center just below snowy Roan Mountain? Tennessee’s Roan Mountain State Park was the perfect place, and after an unheard of—at least in the South—effort to convince a state to go into the cross-country ski business, Tennessee bought into the project. Then the state put the entire operation out for bid, to the shock of the fledgling entrepreneurs who’d devised the idea. After an eye-opening education in state politics—a local Tennessee legislator almost steered the business to a Tennessee outfitter—High South won the park’s “cross-country ski concession.”“Boy, did that teach us a lesson,” says Steve Owen, one of the founders of High South Nordic Guides. The other principal was Jerome Barrett of Jonas Ridge, one of the North Carolina Outward Bound School’s key climbing instructors.The state park took on a festive feel that first winter. With ample snowfall, the rental cabins and restaurant were bustling and the summertime campground became a cross-country ski shop. The atmosphere electrified the Nordic ski crowd. Newspaper reporters took lessons at the state park, then drove up to the winter wonderland of Roan Mountain for memorable first encounters with cross-country skiing. This was a new wrinkle to skiing in the South, and publicity was widespread. Tennessee governor Lamar Alexander and his wife Honey went skiing with High South on Roan Mountain and the photos appeared in dozens of newspapers. On one of those visits, the guides mentioned to Alexander that, “occasionally the road up to Roan Mountain, where the most snow falls, doesn’t get plowed very promptly.” The governor thought for a second and said, “Well, I think I might have some influence there.”Hart Hodges, grandson of North Carolina Governor Luther Hodges, was one of High South’s ski instructors. James Randolph taught too, son of Alabaman Ted Randolph, who had been involved in the development of Sugar Mountain.It wasn’t just “outlanders” on the Nordic scene. Pineola local Troy Clark won the first and last Mount Mitchell Cross-Country Ski Race by defeating 75 competitors over the 8-mile course.During the heyday of the center, the Guides pioneered a rarity in the South—a relationship with the Forest Service that made them partners of sorts in managing the top of the mountain for recreational use. It was the Guides’ focus on skiing that encouraged the Forest Service to install the gate at Carver’s Gap. The focus on recreation helped diminish problems of illegal hunting and other activities on the mountain. The result—the snowy road to Roan became the Deep South’s premier place to cross-country ski.The Guides published a skiers’ map, maintained trails, and placed trail-rating signs (some still exist). They aided and informed skiers, and helped the unprepared escape severe weather.Then Alexander left office, and the Guides lost a key proponent of their vision for the park. The state frowned on snowmaking—and the Guides shut down their operation. A decade-long bubble of cross-country enthusiasm had burst.As I looked around Carver’s Gap at the happy faces, I remembered once asking Owen if High South had been a waste of time. “Not at all,” he said. “Had we gotten the concession for the ski center and restaurant, gotten snowmaking, had summer programming, Roan Mountain state resort state park could have been an enduring business opportunity for people like us.”“Our goals weren’t only economic,” he says. “We had a passion for our sport and how it and the winter woods affect people. When I think back, the image that comes to my mind is a snowy day at the state park, a full parking lot, and hundreds of people enjoying a sport that most would never believe was even possible in the South.”Epic OptionsThirty years later, Carver’s Gap still has the same energy, but with a new group of people in higher tech clothing.If Carver’s Gap is the Roan region hot spot of winter backcountry, there are fewer people and exponentially more options elsewhere on the ridge. Using US 19-E, north of Spruce Pine and west of Newland, Roaring Creek Road runs high up under Yellow Mountain Gap, famous as the route of the Overmountain Men on their way to defeat loyalists in the Battle of King’s Mountain (they walked through the gap in September snow).From the small parking area, it’s an easy ski to the left on a Forest Service access road to the A.T. and the huge Overmountain Shelter, a cavernous barn that’s a killer base for winter camping. Step past another gate at the lot and a side trail reaches Bright’s Trace, the actual colonial road that’s also a great route to the Gap. The A.T. soars up the meadows from there, to Little Hump and beyond on the ridge, and a web of fire roads brings you back down to your car.The most direct route to Hump on the A.T. is another option out of Elk Park. The Apple House Shelter is not far from the road if a quick bivy is needed. Doll Flats, an outstanding campsite half-way to the summit, makes a nice base camp if you want to snowshoe the remaining few miles to the balds and ski from there. Last winter, the hundreds of acres of alpine-like balds across the crest of Hump saw their best skiing in years.Last winter was truly an epic year for snow, and though hope springs eternal for another year like last, keep in mind, High South Nordic Guides discovered a key truth about the Roan area, lo those many years ago. When Ray’s Weather promises “significantly greater accumulations at higher elevations”—that’s the time to realize that every winter offers great skiing and mountaineering on these heights. You just have to go when the going’s good. And go where the going nets quick access.There are many ways to reach the balds, side roads here and there, routes past isolated homes where a curtain slides aside and a face casts a close look at cars that spin their way through the snow in the winter.If you look beyond the forest, secret runs and routes still hide in the trees.Randy Johnson and his buddies spend a winter weekend every year clearing the ski trails on Roan Mountain. He’s the author of Hiking North Carolina and Hiking the Blue Ridge Parkway. randyjohnsonbooks.com
By Yolima Dussán/Diálogo October 11, 2018 Troops of the Colombian Army’s 23rd Brigade, the Special Counternarcotics Brigade, and the Colombian Police Counternarcotics Directorate located and destroyed a mega lab equipped to process cocaine hydrochloride in a joint operation, August 24, 2018. The drug lab was the largest authorities found so far in Cumbitara municipality, Nariño department, in Colombia’s southwest. “Cumbitara, with the municipalities of Leyva, Rosario, and Policarpa, is the third most productive coca area of Nariño department,” Colombian Army Colonel Oscar Moreno, commander of the 23rd Brigade, told Diálogo. “The area, under the influence of Front 29 and paramilitary and self-defense groups, has been at the center of a turf war as the main narcotrafficking corridor in the region.” The lab belonged to Front 29, a remnant armed group of the Revolutionary Armed Forces of Colombia (FARC, in Spanish). According to the Army, the complex was divided into 13 rustic and interconnected structures able to produce 5 tons of cocaine hydrochloride a month, valued at $135 million in the illegal international market. Millions seized Authorities found five distillers to refine coca paste, two electric generators, five storage tanks and logos to brand each kilogram of cocaine to identify its owner. Law enforcement also seized vacuum sealers, 34 microwave ovens, two hydraulic presses, four improvised toilets, two industrial heaters, 14 test tubes, 18 acidimeters, two compressors, 10 gas cylinders, 65 plastic tanks, and 3,500 rolls of packing tape, among other equipment and supplies, the Army stated. Authorities conducted the operation as an air assault, with helicopters allowing for quick seizures, yet with the loud sound of spinning blades. Coca paste makers and security personnel ran away as soon as they heard the aircraft, preventing any arrests from taking place. International intervention The increase in interventions to locate and destroy labs is part of the Army’s Diamond Plan. The plan strengthens the course of action set by the Damascus doctrine at the core of the Colombian Military Forces, which leverages interoperability of joint, coordinated, and interagency operations. “We have a well-defined plan that considers every front. We receive a lot of support from the United States to make processes sustainable in the community,” Colombian Army Brigadier General Raúl Hernando Flórez, commander of the Counternarcotics Special Brigade, told Diálogo. “We work on mechanisms to restore capabilities for eradication, intervention, and intelligent spraying, based on the rules established.” The new legal guidelines classify cocaine production facilities and warehouses as high-value targets. “This increases intelligence, research, and judicial efforts,” Brig. Gen. Flórez said. “Strengthening international cooperation is one of the most important tools against this transnational crime. So is promoting coordination centers against its funding, with a coordinated approach of strategic communication and two clear messages: What comes around goes around, and, in particular, narcotrafficking crimes have no political connotations.” “But none of this will be successful if we don’t devise joint, coordinated, interagency, and multinational strategies to ban drug consumption and possession anywhere in our region,” Brig. Gen. Flórez said. “We are studying the case, adjusting the diagnosis of the problem.” Remnant groups devoted to narcotrafficking In 2018, the Army destroyed eight labs in the area. Authorities believe FARC remnants owned the drug labs. “Remnant groups are completely devoted to narcotrafficking; there’s no ideology, no politics, just business, and this is narcotrafficking financed by Colombian and Mexican rings,” Col. Moreno said. “Locating and reaching these labs is the result of a complex operation using intelligence, technical, and technological [resources], flyovers, heat inspections, many days of follow-up, and, obviously, the community’s help.”
32SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Scott Butterfield Scott is the Principal of Your Credit Union Partner, PLLC.Your Credit Union Partner (YCUP) is a trusted advisor to the leaders of more than 100 credit unions located throughout … Web: www.yourcupartner.org Details It’s December, and if you’re like most credit union leaders, your strategic plan is distributed, and the 2020 budget is approved. Before you know it, you and your team will be off and running to pursue the New Year’s goals. Another thing most of us have in common is a strategic membership growth priority. New members are needed to help us take loan and deposit growth to the next level. Specifically, who are you looking for?It’s surprising how many credit union leaders have a difficult time clarifying their ideal member(s). They usually come up short after they have called out younger borrowers, active checking account users, prime credit, middle income, homeowners, etc. The reality is in today’s competitive market, these general audiences are not definitive enough. Many then go to market with a limited universe that is too generic to be highly effective. Savvy marketers have a much deeper understanding of who they are reaching and why. First, they have clearly defined the ideal member i.e. product profitability, relationship profitability, referrals, how they access the credit union, etc. Second, they use data, analytics and demographic segmenting to refine their search further to reveal the ideal member. They leverage information to understand what drives the potential members decision making. They understand that every potential member does not live the same type of life. They segment markets into groups to understand their shared values and life experiences. These segments include geographic, demographic, financial behavior, and motivation that includes psychographics and social values. Thus, armed with this information, they align the consumer’s needs with the credit union’s products, purpose and strategic goals. This clarity allows them to invest their marketing dollars for the best possible result. Most credit unions would identify “younger borrowers” as a desired member, so we’ve laid out two examples of just how different this member can look.Ambitious Singles – is a demographic segment comprised of younger cutting-edge singles living in mid-scale, metro areas that balance work and leisure lifestyles.Annual Median income $75k-$100KHighly educatedFirst time home buyersProfessionals, upwardly mobileChannel preferences for engaging with brands (and their offers) is while watching or streaming TV, listening to their favorite radio apps or while browsing the web on their phones. They are also quite email receptive (but subject lines must be compelling)Families Matter Most – This segment is comprised of young middle-class families in scenic suburbs, leading family focused lives.Annual Median income $75K – $99KHave children 4-6 yrs. oldEducatedHomeownersChild-related purchasesCredit revolver and auto borrowers (larger vehicles)Go online for banking, telecommuting and shoppingBoth segments represent younger borrowers with similar incomes, but they have different loan needs, lifestyle priorities and preferences for engaging with a marketing offer. These are just two examples of the segmentation data that is available from Experian. The segmentation solution provides a framework to help credit unions identify the optimal customer investment strategy for each member segment. This framework helps the credit union optimize their marketing between differentiating segments. For some segments the investment may be directed toward finding the ideal member. Others may be made to find depositors. While many credit unions don’t have infinite marketing budgets or analytical resources, segmentation help marketers more efficiently and effectively pursue the best member or develop member personas to better resonate with existing members. The feedback we have heard from credit union leaders is that the solution is the best segmentation tool they have seen. Learn more about it here.What your team is up againstToday, credit unions face national competitors that are using state-of-the-art data analytics, first-rate technology and in-depth market segmentation to promote very attractive offers to win new members, deposits, checking accounts and loans. Their offers have a look, feel, message and offer that are relevant to the person receiving the offer. Here are a few recent “offer” examples that we have heard of that should give you pause:FinTech companies, like the Lending Club offering auto loan refinances (the offer provides an estimate of refinance interest savings). The ad we saw had an estimated monthly payment of $80. PayPal Cashback Mastercard® – with a $300 early use cash bonus and 3% cash back on purchases. High limit personal loans that take minutes to apply and to be funded. Banks acting alone or in partnership with a FinTech to offer online checking accounts with new account opening bonuses ranging from $300-$600. and of course, Quicken® Mortgage promoting low rates and fast and seamless origination. These are just a few recent examples from thousands of offers that are reaching your ideal member. Besides offering great rates, cash back, low fees and seamless service – these offers are guided by robust data analytics and consumer segmentation to reach and engage a well-defined, ideal consumer. Why it mattersThe 2020 race is on. Hopefully your team has clarity of the member(s) they want to reach, access to robust data analytics, in depth consumer insights, reliable credit resources and marketing tools they will need to compete in the toughest financial market any of us have likely ever seen. If you’re afraid that you can’t afford the right tools when it comes to marketing, consider what the dealer fee is for purchasing an indirect auto loan. What if the 2% or more fee was reallocated to finding organic loan growth with consumers you’re more likely to build a relationship with? Or consider the cost of consistently marketing to the wrong consumer segments with the wrong message, at the wrong time and in the wrong channels. What if you could increase your market engagement rate from 5% to 10%?Perhaps the best strategic question is can you afford NOT to have the best tools that support future membership growth? If you don’t win your ideal member, somebody else will.
Topics : Log in with your social account LOG INDon’t have an account? Register here Forgot Password ? Homegrown decacorn Gojek will stop “burning cash” and instead focus more on improving user experience to achieve sustainable growth, a top executive has said.Gojek co-CEO Kevin Aluwi made the statement in reference to the company’s food delivery service GoFood, digital payment platform GoPay and ride-hailing service in growing its customer base.The strategy would be more effective in achieving sustainable, long-term growth, Kevin said on Feb.11 alongside other Gojek executives at a press briefing in Jakarta.In its bid to improve user experience, Gojek launched in mid-January three new features under its food delivery service, GoFood Pickup, GoFood Turbo and GoFood Plus, and integrated Google Assistant in its app.GoFood Pickup is a self-pickup ordering facility that allows customers to order food at a restaurant for picking up later. GoFood Turbo… Google Linkedin Indonesia Gojek Go-Food promotion cash-burning sustainable-growth Kevin-Aluwi Facebook
313 Stanley Tce, Taringa.A HISTORIC two-level brick home in Brisbane called Kildare has come on the market for the first time in 70 years.The 1,538sq m block at 313 Stanley Tce, Taringa, has a four bedroom, two bathroom, single garage home that contains original features including high ceilings, decorative cornices and brick walls.313 Stanley Tce, Taringa.The current house, on the market for the first time since 1946, has multiple living areas and is surrounded by established gardens and plenty of greenery.Its first-floor entry leads into a carpeted interior with neutral tones and modern down lighting, along with traditional casement windows inviting natural light and breezes inside.Along one side of the level are three bedrooms with built-in wardrobes, one of which also has access to a rear balcony. A bathroom with a separate shower and bathtub services these bedrooms.313 Stanley Tce, Taringa.More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours agoCentrally located, an open-plan lounge and living space with a classic fireplace and an antique chandelier opens through glass sliding doors to two balconies with suburban views.To the front right of the house, the kitchen features classic timber cabinetry, multiple benchtops, a ceiling fan and serving window to the dining room.Downstairs houses a single garage and a laundry with external access, a bathroom, numerous storage areas and two multipurpose rooms.313 Stanley Tce, Taringa.Agent Karen Simons of Place Graceville said the property on an elevated corner site offered the perfect balance of exclusivity, space and convenience that few others on the market could match.“Whether buyers decide to move into the existing home and enjoy the extra land, start from scratch with limitless creativity or add their own touch of luxury and style to Kildare, there’s no doubt this property is a rare find,” Simons said“For the astute buyer, developer or own occupier, the options here are truly endless — this impressive parcel of land could be yours, and all within a secure natural setting rarely found within the inner city area.”313 Stanley Tce, Taringa.Nearby amenities include Toowong Village and Indooroopilly Shopping Centre, with Mt Coot-tha Forest along with plenty of local restaurants, cafes, schools and other conveniences close at hand.Inspections are by appointment with an auction scheduled on site at 1pm on May 27.
Financial services regulation needs to anticipate problems rather than deal only with what has happened in the past, and see consumers as they really are, the head of the European Insurance and Occupational Pensions Authority (EIOPA) has said.EIOPA chairman Gabriel Bernardino told a recent conference in Nice: “What we need is not more, or less, regulation, but smarter regulation.”By smart regulation, he said he meant rules that take real consumer behaviour into account, and recognise the limitations and biases in the way people make decisions.“We have to put the consumer as they really are at the heart of regulation, rather than the consumer regulators wish for,” he said, according to a text of the speech. Smart regulation also means regulation that is proportionate, he said, in that it reflects the evidence of what works and what does not.It should also be forward-looking, aiming to anticipate problems rather than address only the problems of the past, Bernardino argued.“Our aim is to have smart regulation, not killing industry with unnecessary rules,” he said, calling on the insurance industry to continue engaging with regulators in a constructive dialogue. Bernardino cautioned against constant shifts in regulation, saying: “Ceaseless change should not become the new normal.”However, he also said he did not believe there had been a loss of regulatory balance.“Among regulators, there is the general consciousness of the possibility of unintended consequences of regulation,” he said. He said they recognised the need to stop and let new regulatory approaches settle, in order to see what then needed adjusting.
“The high-net-worth opportunity is very significant – it is a fast-growing segment, and it has a risk appetite that is higher than the institutional side of the market,” he conceded.“But we manage more than €200bn for these clients, and we are totally committed to them.”As evidence of this commitment, Faissola pointed to the new hire of J J Wilczewski from Aon Hewitt as co-head of the Global Client Group for the Americas to focus on institutional investors, and the appointment of co-CIO Randy Brown to the new role of head of the insurance and pensions solutions business in the UK. Brown has previously worked as global head of Deutsche Insurance Asset Management, the world’s largest manager of non-affiliated assets for the insurance industry.“Randy has been an excellent co-CIO, and I am delighted he will now turn his talents to leading the growth of our UK and IPS businesses,” said Faissola.Asoka Wöhrmann will now take on the role of sole CIO.Wilczewski will report to Dario Schiraldi, head of the Global Client Group, who said: “Deutsche Asset & Wealth Management is fully committed to serving the needs of institutional investors and their consultants.“As one of the few firms that provide a full suite of solutions across multiple asset categories and investment disciplines, we have a compelling offering for institutions in the Americas.” Michele Faissola, head of Deutsche Asset & Wealth Management (DeAWM), has pointed to two new appointments as evidence of the firm’s “total commitment” to institutional clients, at its annual press conference in London on Tuesday.Faissola’s opening speech detailed DeAWM’s “one-bank” strategic restructuring over the past two years and focused on the global opportunity from high and ultra-high-net-worth individual clients.The business, which manages around €1trn in assets worldwide, plans a 15% increase in ultra-high-net-worth relationship managers through new hires.However, he emphasised that “liability-focused” institutions remained crucial to the firm’s business.