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mecomzyto197

Finance is the Biggest Sector Once Again

German finance minister sees signs ECB will raise rates

But excluding Finance, total earnings for the rest of the S&P 500 companies would be down -2.8%. So why were earnings in the Finance sector so hot? These two charts will tell you pretty much everything you need to know: (Improving credit quality is a good thing, but as a bank, I'd rather have strong loan growth and net interest margin expansion boosting my bottom line than simply taking a lower provision for loan losses... but I digress.) Mr.

The Role of Finance May Be Changing, But the Route to the Top Remains the Same

Credit: Reuters/John Kolesidis BERLIN | Fri Aug 23, 2013 2:50am EDT BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble said in a newspaper interview on Friday the European Central Bank (ECB) has made clear it will raise interest rates again once the economy improves and that he welcomed that prospect. "Low rates are above all an expression of insecurity on debt markets. That cannot last forever - even if it is a relief to the federal budget," he said. "The central bank has announced it will raise rates again when the economy improves. That is good." ECB chief Mario Draghi actually said after the last meeting on rates on August 1 that rates will remain low for some time.

However, the available evidence suggests that if anything the reverse has happened, (see table). While 80% of FTSE Financial Directors continue to hold one or more accounting qualifications (and many of those that dont have an MBA or some other higher qualification typically relevant to their industry), it is evident that most still hold a qualification from one of the two bodies that are more orientated towards financial accounting rather than those that are more focused on management accounting. Despite the increasing focus on value creation, my guess is this is never going to change much even over the next twenty years because listed companies always need a head of finance who can tick all the traditional boxes of financing, M&A, compliance, reporting, taxation and investor relations. Such experience is undoubtedly best gained by spending part of ones career in an advisory role in one of the big accounting groups rather than diligently working away inside companies as a value-adding partner to ones peers, only to hit a glass ceiling when it comes to getting the senior position.

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Schweinderl