Core Insights - FTI Consulting has appointed four senior hires to enhance its Transformation practices in London, focusing on operational performance and transformation capabilities for Private Equity and Financial Services clients [1][2] Group 1: Appointments and Expertise - Jan Timmermann, Malvinder Singh, Rakhi Williams, and Irina Bakanova have joined FTI Consulting, bringing complementary expertise in deal execution, transformation, and value creation [2] - Mr. Timmermann has over 25 years of experience and has led more than 80 private equity assignments, specializing in operational and carve-out due diligence [2][3] - Mr. Singh has extensive experience in technology and operational transformation projects for private equity firms, focusing on post-deal value creation [4][5] - Ms. Williams has led transformation programs for private equity and listed companies, focusing on value creation and operational performance [6] - Ms. Bakanova has expertise in strategy, innovation, and digital transformation within financial institutions, previously serving as Head of Strategy at Zing, a fintech of HSBC [7] Group 2: Company Growth and Strategy - FTI Consulting aims to enhance its capabilities in financial, operational, carve-out, and technology due diligence to better support clients throughout the investment cycle [2] - The firm generated $3.70 billion in revenues during fiscal year 2024, indicating strong financial performance [8] - FTI Consulting employs over 8,100 staff across 32 countries, showcasing its global reach and operational scale [8]

Core Insights - Accenture and OpenAI have formed a partnership to integrate agentic AI systems into enterprise operations, deploying ChatGPT Enterprise to tens of thousands of Accenture staff [1][4] - The collaboration includes a flagship AI program that combines OpenAI's enterprise products with Accenture's industry expertise, focusing on embedding AI tools into client workflows [2] Group 1: Partnership Details - The partnership aims to assist organizations in transitioning from legacy processes to AI-powered workflows across various sectors, including financial services, healthcare, public sector, and retail [3] - Joint solutions will target core business areas such as customer service, supply chain, finance, and human resources [3] Group 2: Implementation and Training - Accenture plans to utilize ChatGPT Enterprise for internal staff training and to support both internal projects and client delivery [5] - The company is expanding its commitment to OpenAI Certifications to enhance the number of employees skilled in OpenAI technologies [5] Group 3: Strategic Goals - The initiative aims to shift traditional operational models towards intelligence-driven systems at scale, enhancing enterprise reinvention and business outcomes for clients [6] - Accenture's CEO emphasized the importance of combining OpenAI's technologies with Accenture's industry expertise to accelerate AI transformation in large enterprises [6]

Well, post Thanksgiving, markets are back in riskoff mode this morning. Equities seemingly stuck between possible Federal Reserve doubbishness and the risk aversion signals being sent by the crypto markets. Joining me now, Steve Sausnik, Interactive Brokers chief strategist.Steve, it's great to see you. Thanks for being with us. Hope you had a great holiday.Um, let's talk about the sort of push and pull in the markets here because, you know, we're getting these signals that maybe Kevin Hasset's going to be ...

Core Insights - Accenture is partnering with OpenAI to provide ChatGPT Enterprise to tens of thousands of its IT professionals, aiming to leverage the increasing demand for AI services [1] Company Summary - The partnership with OpenAI signifies Accenture's strategic move to enhance its AI capabilities and service offerings [1] - By equipping its workforce with advanced AI tools, Accenture is positioning itself to better meet client needs in a rapidly evolving technological landscape [1] Industry Summary - The collaboration highlights the growing trend of integrating AI solutions within consulting firms to improve efficiency and service delivery [1] - The demand for AI services is on the rise, prompting companies like Accenture to invest in advanced technologies to maintain competitive advantage [1]

Core Insights - The 2025 holiday season is expected to be divided into two distinct segments, influenced by varying consumer spending behaviors based on income levels [1] Group 1: Consumer Spending Trends - Higher-income individuals are likely to have a decent holiday season, with average salaries rising between 4.5% and 6.7% depending on job stability [2] - The top 10% of earners account for 50% of consumer spending, while the remaining 90% are expected to spend less due to high credit card debt and economic uncertainty [5][6] - Retail sales growth is projected at 4% for the holiday season, but much of this increase will be due to inflation rather than volume, leading to relatively flat real spending [7] Group 2: Economic Indicators - Deloitte forecasts holiday retail sales growth between 2.9% and 3.4%, significantly lower than last year's 4.2% and the 10-year average of 5.2% [8] - The economic landscape is characterized by high inflation, tariffs, and uncertainty, impacting consumer confidence and spending [8][9] Group 3: Impact on Small Businesses - Small businesses, which rely heavily on holiday sales for revenue, may face challenges unless they cater to affluent demographics or are located in wealthier areas [10][11] - The disparity in consumer behavior suggests that while some businesses may thrive, others will struggle due to reduced spending from lower-income consumers [9][11]

Group 1 - Marsh & McLennan Companies, Inc. (NYSE:MMC) is recognized as a low volatility large cap stock, with a Hold rating maintained by Wells Fargo analyst Elyse Greenspan and a price target set at $212.00 [1] - The company appointed James Addington-Smith as CEO of Marsh UK, effective early 2026, pending regulatory approval [2] - Marsh & McLennan announced a strategic knowledge partnership with Bloomberg Media, enhancing its brand visibility through various high-profile events [3][4] Group 2 - The new Marsh brand, set to launch globally next year, will reflect the company's specialized capabilities in management consulting, reinsurance, capital, people and investments, and risk [4] - Marsh & McLennan operates through two main segments: Risk and Insurance Services, and Consulting [4]

Core Insights - SpotStat has achieved significant growth milestones, reflecting its rapid development and expanding global presence [1][4]. Group 1: Company Development - SpotStat focuses on delivering advanced analytics, strategic insights, and optimisation support to performance-driven businesses [3][5]. - The company has strengthened its analytical capabilities and broadened its service range over the past year [3][6]. - SpotStat continues to invest in analytical tools and methodologies to improve transparency and enhance operational efficiency [4][6]. Group 2: Service Offerings - The company has expanded its service offerings to include SEO advisory, digital optimisation, and technical advertising support [6]. - SpotStat is committed to providing high-quality analytics and optimisation services to help clients maximise the effectiveness of their digital operations [4][6]. Group 3: Client Base - SpotStat has a growing international client base, demonstrating its ability to support diverse industries across multiple regions [6].

Company Actions - McKinsey & Co. has cut about 200 global tech jobs as it increases the use of artificial intelligence (AI) to automate certain positions and is considering further reductions across various functions over the next two years [6][1] - The company is focusing on investing in client-facing roles while scrutinizing headcount in non-client deployed areas, with a total staff of approximately 40,000, including around 3,000 partners [6][1] - Global Managing Partner Bob Sternfels stated that the firm will continue to add client-deployed staff and upskill existing employees, while likely reducing non-client deployed roles [6][4] Industry Trends - The consulting industry is facing challenges such as tighter corporate budgets and changes in government policy, which may impact growth [4] - Accenture Plc anticipates that US federal spending cuts on consultants will slow its growth next year, despite exceeding revenue expectations in the fourth quarter [4] - The banking sector is projected to cut up to 200,000 jobs in the next three to five years due to AI advancements, with Citigroup estimating that AI could contribute $170 billion to the industry by 2028, and 54% of roles having a high potential for automation [5][6]

Core Insights - PwC is facing challenges in hiring sufficient tech talent, with global chairman Mohamed Kande stating that the firm is looking for "hundreds and hundreds of engineers" but is unable to find them [1][8] - The demand for technologists is increasing as professional services firms shift their focus from generalist roles to specialized tech capabilities, with firms like Accenture and EY significantly increasing their tech workforce [2] - The nature of consulting work is evolving, with traditional strategy advice now comprising only about 20% of McKinsey's work, as firms are increasingly involved in deep implementation and multi-year transformation projects [3][4] Company Strategy - PwC's future business strategy will center around advising clients on AI implementation, indicating a strategic pivot towards technology-driven services [4] - The firm is reconsidering its graduate hiring strategy, potentially reducing it by a third over the next three years, focusing instead on hiring individuals with the right skill sets for specific roles [6][7] - The decision to slow down associate-level hiring is linked to transformation efforts, the impact of AI, and the integration of PwC's offshoring hubs, reflecting a response to rapid technological changes and low attrition rates [7]

Core Insights - J.P. Morgan has released its NextList2026, a curated selection of books and experiences aimed at inspiring curiosity and conversation in various fields including technology, business, and culture [2][3]. Books - The NextList2026 features 11 standout books, including "Epic Disruptions" by Scott D. Anthony, which discusses 11 innovations that have transformed industries and society, including the AI revolution [5]. - "A CEO for All Seasons" by Carolyn Dewar et al. provides insights from top leaders to help CEOs navigate their careers effectively [6]. - "Air Jordan" by Adam Bradley celebrates the cultural impact of Michael Jordan and his brand, showcasing how it has influenced sports and business [7]. - "1929: Inside the Greatest Crash in Wall Street History" by Andrew Ross Sorkin offers a detailed account of the events leading to the Great Crash, highlighting the personalities involved [10]. - "Still Bobbi" by Bobbi Brown shares her journey in the beauty industry, emphasizing authenticity and natural beauty [11]. Experiences - The Lucas Museum of Narrative Art, opening in 2026, will focus on storytelling across various visual media, founded by filmmaker George Lucas [18]. - A revival of the musical "Chess" is set to return to Broadway, featuring a new book and direction, highlighting the rivalry between American and Russian chess champions [19]. - The Fondation Louis Vuitton in Paris is hosting a major retrospective of artist Gerhard Richter, showcasing 275 works from his career [20]. Wineries - Bevan Cellars, established in 2005, focuses on small-lot Cabernet Sauvignon and Bordeaux-style blends, capturing the essence of Napa Valley [26]. - Burgess Cellars, founded in 1972, is known for its outstanding Cabernet Sauvignon and emphasizes regenerative farming practices [27]. - Portfolio Winery, founded by Geneviève Janssens, produces limited quantities of wine, reflecting a commitment to quality and purpose [28]. Company Overview - J.P. Morgan Chase & Co. is a leading financial services firm with $4.6 trillion in assets and $360 billion in stockholders' equity as of September 30, 2025, serving millions of customers globally [29].