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Economists: US economy recovering faster than expected

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Aon Financial Institutions Advisor
Economists: US economy recovering faster than expected | Banking takes lead in appointing women for top roles | It's in the numbers: Cybercrooks are working overtime
Created for NPi6miayvd@nie.podam.pl |  Web Version
September 16, 2020
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Risk Management and Insurance
A monthly survey of business and academic economists found that the US economy is recovering more quickly than previously expected from the coronavirus disruption, even though GDP is still expected to drop by 4.2% this year. According to 82.4% of the economists polled, the recovery began during the second or third quarter of the year.
Full Story: The Wall Street Journal (tiered subscription model) (9/10) 
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The banking sector leads other industries in promoting women to senior roles, with 27% of C-suite jobs taken by women against an overall average of 21% across all industries, according to data from McKinsey and LeanIn.org. With Citigroup's appointment of Jane Fraser as its next CEO being the most high-profile example, Lorraine Hariton of Catalyst notes: "Women being promoted to these positions, especially in industries where they are really breaking new ground, happens because of intentionality."
Full Story: The Wall Street Journal (tiered subscription model) (9/11) 
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Cybersecurity
Tens of thousands of web domains related to the coronavirus pandemic are being created daily, reports ZDNet's David Gewirtz, who gathered several more unsettling statistics. Nine in 10 of those new domains are related to scams, including distributing malware or selling fake cures for COVID-19.
Full Story: ZDNet (9/14) 
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Government Regulation
The Federal Reserve has named Trevor Reeve, an economist who joined the central bank's staff in 1998 and spent 16 years in the central bank's Division of International Finance, to be director of the Division of Monetary Affairs. The division advises the Fed's Board of Governors on key issues including bond buying, interest rates and communications.
Full Story: Reuters (9/14),  The Wall Street Journal (tiered subscription model) (9/14) 
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Innovation
First Horizon Bank is launching its ClearPath Fast Payments system, aimed at giving businesses a way to make instant payments for wages, commissions and other remittance. The bank partnered with fintech Interchecks on the service.
Full Story: PYMNTS (9/14) 
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News from Aon
Coronavirus and cyber risk: The essential role of the CHRO
The economic uncertainty caused by the pandemic, as well as resulting layoffs, furloughs and changes in compensation and benefits, further heighten cyber risks. Stressed and unengaged workers are more likely to make mistakes or, in a worst-case scenario, actively take steps against their employers if they feel they have been wronged in some way. Learn more.
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Top 10: Cyber governance for boards of directors
Eric Friedberg, co-president of Aon's Cyber Solutions, provides his Top 10 list, which focuses on how a board can improve its cyber governance. See the list.
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About Aon Financial Institutions
The Aon Financial Institutions Practice develops risk transfer and consulting solutions for a wide range of businesses including banks, insurance companies, asset managers and diversified investment and finance firms. Our experts draw on deep experience in developing products involving management and professional liability, property and casualty, cyber, operational and enterprise risk management, environmental liability, employee benefits, and transactional solutions. These solutions help clients build a tailored risk management program that empowers results for their organizations.

Contact Aon
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Aon Global Financial Institutions Practice Leader
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Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
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