PureFacts Accelerates Growth by Hiring Fortune 500 Seasoned Executive as Chief Revenue Officer

first_imgLocal NewsBusiness Twitter WhatsApp Facebook Pinterest WhatsApp TORONTO–(BUSINESS WIRE)–Feb 3, 2021– PureFacts Financial Solutions, a leading global provider of fees, reporting, AI-powered predictive analytics and consulting solutions for the wealth management and asset management industry, announced that Wai-Ming Yu has joined as the company’s new Chief Revenue Officer (CRO). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210203005251/en/ Wai-Ming Yu, Chief Revenue Officer, PureFacts Financial Solutions (Photo: Business Wire) An accomplished senior executive, Wai brings over 25 years of experience, including being a Partner at Accenture, the Chief Digital, Product, and Marketing Officer at Ontario Lottery and Gaming Corporation, and the Founder and CEO of ALVALUE Consulting. Her expertise in creating and implementing meaningful client-centric solutions is crucial to PureFacts’ commitment to anticipating their clients’ needs and providing the next generation of valuable wealthtech solutions. “Hiring Wai, an industry professional with such an impressive track record, reflects our firm’s commitment to continuing to build a top-tier team to provide the best total solutions and outstanding service for our clients. I’m thrilled to have Wai join us to accelerate our growth agenda, scale our global business, and provide innovative market-leading solutions.” – Robert Madej, PureFacts Founder & CEO “I’m proud to join the PureFacts family and be part of a company that constantly seeks ways to do better for its clients, employees, and the communities it serves. In the current economy, PureFacts’ products and services are more relevant than ever before and integral to helping consumers achieve financial security to live their best lives. PureFacts’ mission is worthy, bold, and timely—I’m humbled and honoured by the opportunity.” – Wai-Ming Yu, PureFacts CRO The addition of a new CRO builds on an exceptional growth trajectory for PureFacts that saw the company successfully acquire two companies during the past nine months to become a truly global firm: Boston-based VennScience and Zurich-based Quartal Financial Solutions. About PureFacts Ranked a WealthTech100 Company, PureFacts provides enterprise wealth management and asset management solutions for the financial services industry in Canada, United States, Europe, Asia Pacific, Middle East and Africa. They provide clients with transformational fees, reporting, predictive insights and consulting solutions by leveraging their expertise in data aggregation, complex calculations, Artificial Intelligence and machine learning. www.purefacts.com View source version on businesswire.com:https://www.businesswire.com/news/home/20210203005251/en/ CONTACT: Rajini McRae PureFacts President [email protected] KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: SOFTWARE FINANCE CONSULTING BANKING DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY SECURITY SOURCE: PureFacts Financial Solutions Copyright Business Wire 2021. PUB: 02/03/2021 09:05 AM/DISC: 02/03/2021 09:05 AM http://www.businesswire.com/news/home/20210203005251/en Twittercenter_img TAGS  PureFacts Accelerates Growth by Hiring Fortune 500 Seasoned Executive as Chief Revenue Officer Previous articleKitewheel Issues State of the Retail Industry Report Examining Consumption Trends, New Expectations, and SolutionsNext articleCrystal Blockchain : les plateformes P2P ont besoin de régulation pour réduire le risque de blanchiment d’argent Digital AIM Web Support By Digital AIM Web Support – February 3, 2021 Pinterest Facebooklast_img read more

Fairtrade sets sights on bakery

first_imgWatershed moment alert: chocolate giant Cadbury is stepping up its activities in bakery. While you may have spotted the marketing splash about its switch to Fairtrade for consumer chocolate, you may not yet be aware that it is also ramping up the hitherto less-developed part of its business bakery cocoa supply. Such is the potential for Fairtrade growth in bakery, the chocolate giant is targeting craft bakers and bakery manufacturers by launching Fairtrade cocoa into the market.With everyday products like PG Tips going Fairtrade, it’s time to stop talking about Fairtrade as a niche. The Fairtrade Foundation’s strategy projects big growth from around £700m in sales now to £2bn by 2012. Whereas Fairtrade coffee currently makes up around a fifth of the coffee market, bakery products using Fairtrade ingredients are viewed as the next big untapped market. With the biscuits and cakes category worth close to £3.5bn, it’s no wonder that the Foundation’s eyes have lit up at the prospect of getting bakers on board.”If we can achieve coffee’s growth on the bakery side, it would be phenomenal,” says Samantha Dormer, business development manager for cocoa at the Fairtrade Foundation. “The bakery sector is uniquely positioned because it opens up opportunities, not just for cocoa producers, but for sugar, nuts, dried fruit and vanilla. If the bakery market was to get more behind Fairtrade, that could have a huge impact on a broad range of producers and lift people out of poverty.”Message to the marketThe moves by Cadbury, PG and Starbucks this year mark a “step change” for Fairtrade, she says, and will have a knock-on effect. Asda, Sainsbury’s and Co-op have all launched own-label Fairtrade bakery products. “Because of big players joining the Fairtrade movement, it has definitely sent a message into the market,” says Dormer. “It says consumers believe in it. We’ve seen renewed market interest, so it’s a great time for key players in the bakery sector to start engaging with Fairtrade.”In fact, research suggests 64% of people would support ethically-traded products and 70% recognise the Fairtrade logo a factor not missed by Cadbury. “Cadbury has been ethically trading with Ghana for over 100 years and joined forces with the Fairtrade Foundation to strengthen the support that the Ghanaian Cocoa farmers receive,” explains Sharon Loizou, account manager at Cadbury. “The cocoa that we produce is from Ghanaian cocoa beans, which are among the best-quality cocoa beans in the world.”One thing that has hampered take-up in bakery is availability of Fairtrade ingredients and the price premium. Fairtrade cocoa works by having a minimum price set for raw cocoa US$1,600 per ton. A Fairtrade premium of US$150 is paid in addition to that for investment into community projects, from healthcare to schooling to improving yields. Manufacturers’ costs will then vary.As more manufacturers like Cadbury sign up, availability becomes greater and costs reduce. Cadbury’s cocoa is being made available Fairtrade-certified in 4kg tubs and in 25kg bulk sacks for industrial bakers (currently not Fairtrade-certified). Note, it is being supplied as a baking ingredient only. That means a baker would need to have a licence to use the Cadbury name against any product.Lower ingredient costs are a crucial factor as there seems to be a price point that consumers won’t cross for Fairtrade. For example, Delice de France has reformulated and relaunched two impulse products this week, Fairtrade Chocolate Chunk Shortbread Fingers and Fairtrade Chocolate Chunk Cookies, having dropped the price by 15%. “We found consumers weren’t prepared to pay a huge premium for Fairtrade,” says Delice de France marketing director David Girdler.”As Fairtrade producers have become bigger and better supported, we’ve been able to reformulate two products. Fairtrade does sell at a premium; we would like it not to, but the traceability of the ingredients sadly does cost a little bit more. We do see people sticking with Fairtrade though, if not organic, in the current climate.”Record highs in cocoa pricing have also made Fairtrade cocoa more accessible. “The cocoa market price is very high at the moment so the price differential between the two is less,” says Richard Williams, UK sales manager for Belcolade chocolate at Puratos, which supplies Fairtrade & Organic low viscosity chocolates for moulding, enrobing, dipping and spraying, as well as in chunks and inclusions. “Demand for Fairtrade and Rainforest Alliance is rising, definitely, as the bigger brands get behind ethically sourced products. Fairtrade may grow more slowly now we are in recession, but it is a strong long-term brand. We’re involved in more and more briefs for Fairtrade products.”Another cost to consider is licensing and accreditation for use of the logo. There is a licence fee to use the Fairtrade mark for marketing purposes, and licensees are charged 1.7% on wholesale value up to £5m; that reduces with higher values or if your entire range is Fairtrade.While the system is set up for bakery manufacturers and brands, the Foundation says it is open to tweaking this model if it encourages retailers like bakery chains to join up. “Bakery is a really new sector for us,” says Dormer. “There is a lot of opportunity to engage with bakery chains and look at the model again, for businesses large and small.”last_img read more