Minority Business Leader Awards: Angel Rich
Angel Rich sees finance as a game. Or at least, as an app.
Under the umbrella of her company, The Wealth Factory, the 32-year-old entrepreneur developed CreditStacker, a mobile credit game that presents financial education in a colorful, interactive platform that is offered in 21 languages and 60 counties with more than 250,000 users.
In 2018, the company reached some $750,000 in raised funds, along with $300,000 in revenue. In 2019, Rich aims to hit $1 million revenue alone as the company expands…
Minority Business Leader Awards: W. Frank Williams III
Growing up, W. Frank Williams III would have never envisioned himself as a banker. He didn’t always associate the banking world with things like nonprofits, education and relationship-building. But those three words have become a big part of Williams’ role.
As a senior vice president and market manager with Bank of America Merrill Lynch for the Washington, D.C., and Baltimore markets, he leads a team of relationship managers who handle the banking for a large portfolio of nationally recognized…
Minority Business Leader Awards: Viola Llewellyn
It’s not uncommon for Viola Llewellyn to take business calls on the run. The co-founder and president of Chevy Chase-based Ovamba Solutions Inc. is always on the move in her quest to help businesses in emerging markets grow.
The company is primarily focused on delivering culturally-attuned financial technology to African nations. Where a traditional financial company may have shied away from African startups, Ovamba hit its stride by “turning ourselves into a glorified fan club,” Llewellyn…
Wells Fargo CEO Tim Sloan steps down
Wells Fargo & Co. said March 28 that Tim Sloan will retire at the end of June, but is stepping down immediately as CEO, president and board member.
The board named General Counsel Allen Parker as interim CEO and president, while the bank begins a search for a permanent CEO. In a dramatic move for a bank that has long promoted from within, Wells Fargo (NYSE: WFC) said its next CEO will come from outside the bank.
Wells Fargo was the largest bank in the Austin area ranked by deposits at the end…
Minority Business Leader Awards: Ollen Douglass
Ollen Douglass’ second day at The Motley Fool was not easy.
“I had to get in front of the company and tell them we had too many people,” Douglass says. During the next nine months the company went from 400 employees to less than 100.
“It was a difficult time but we learned a lot of valuable lessons.”
Douglass was already a regular reader of The Motley Fool when he saw an ad to work there as a financial analyst and director in 2001 — in the midst of the dot-com crash.
And while…
To err is human: New opportunities for forgiveness for banks in Ohio
Being an Ohio-chartered bank or trust company or institution-affiliated party of same (IAP) becomes a bit more comfortable with the addition of the new “bona fide error” protections of Ohio Sub. H.B. 489, effective March 20, 2019.
Under new Section 1121.61 of the Ohio Revised Code (ORC), Ohio banks will not be held civilly liable or subject to regulatory actions by the Ohio Division of Financial Institutions (ODFI) under Title XI of the ORC (the Ohio banking code), or Chapters 1309 (secured…
A proposal to tax REITs could cost the state of Hawaii a fortune
This year, Senate Bill 301 — which would eliminate a corporate income tax deduction on dividends paid to shareholders by real estate investment trusts that own the largest hotels, office buildings and shopping centers in Hawaii — has gone farther than any of its previous iterations.
Family-Owned Business Awards 2019: Azola Cos.
The Azola family has helped preserve some of Baltimore's most well-known historic structures, like the Bromo Seltzer Tower, Pimlico Race Course, the Ivy Hotel and more.
Minority Business Leader Awards: Perry Moon
Ask Perry Moon to describe himself, and despite his leadership track record, he’ll say he’s quiet, unassuming and “notoriously shy.” It’s hard for him to talk about himself, he admits. He’d much rather talk about his nonprofit, the Far Southeast Family Strengthening Collaborative (FSFSC), and how far it’s come since he joined in 2000.
Over the past 19 years, FSFSC has grown from a staff of about 20 to 60, and its budget has increased to close to $9 million, primarily from government…
Coco Palms project listed with no asking price but valued at $40M
Utah-based Stillwater Equity Partners announced this week that it had replaced developers Tyler Greene and Chad Waters of Honolulu-based GreeneWaters as manager of Coco Palms Hui LLC, the owner of the stalled project to revive the hotel, which has been closed since 1992 after much of the property was destroyed by Hurricane Iniki.