Posts Tagged ‘Bank’

Facebook summons Wall Street for pre-IPO briefing

Friday, March 16th, 2012

Facebook Inc is taking the next step on its IPO journey and has summoned research analysts from Wall Street banks to its Menlo Park headquarters early next week for a pre-roadshow briefing to discuss the finer points of its business and books.

The world’s largest social network, which is racing toward what would be Silicon Valley’s largest ever initial public offering, will not disclose new information during the meeting with analysts.

Instead, it will outline its strategy and answer questions on how to analyze its operations and help analysts build models on its financials, two sources told Reuters on condition of anonymity because the meeting is not public.

Called a “due diligence meeting”, such pre-roadshow pow-wows are standard fare for future debutantes.

It is not clear how many analysts have been invited. One source said analysts from five to 10 of the largest banks underwriting Facebook’s IPO will likely attend the meeting.

A second source said analysts from most banks helping underwrite the offering have been invited to the meeting, scheduled for Monday. Both sources would not elaborate because of the conditions of the presentation. (more…)

Virginia Commonwealth Bank selects DNA from Open Solutions

Tuesday, October 12th, 2010

Open Solutions has announced that Virginia Commonwealth Bank has selected its DNA, an enterprise-wide core relational platform, for the processing needs.

Enhanced by Open Solutions’ advanced open platform, DNA capitalizes on the strength of Open Solutions’ data model and design, while increasing workflow, flexibility and productivity. Built on integrative Oracle relational database, the solution provides the necessary flexibility for running a service-oriented financial institution.

Available as an in-house or outsourced solution, DNA helps banks streamline both front- and back-office processes and creates a comprehensive view of customers, employees and business partners. Virginia Commonwealth Bank will implement DNA in an outsourced environment. (more…)