It is exciting to become part of a firm focused on consistently improving client engagement and supporting Berkshire’s growth." "There is a great cultural fit between Berkshire and ResEcon, and we see valuable opportunities to learn from each other’s successes and to offer some very important and interesting new services to our clients. "I am delighted that Berkshire is partnering with ResEcon as we look forward to our next stage of growth," said Ms. Berkshire will continue to operate under its corporate name. Ronnenburg has been a part of the Berkshire team for over 25 years and has been instrumental in shaping Berkshire’s culture and growing the business into the market leader it is today. President Beth Ronnenburg will continue to lead Berkshire as part of ResEcon. "There is strong alignment between Berkshire’s and ResEcon’s strategic objectives and vision for the future of our combined business." "We are incredibly excited to partner with Berkshire, a true industry leader," Ali Saad, Managing Partner at ResEcon, said. Over the years, Berkshire has expanded its scope of services beyond AAPs to meet the evolving needs of HR professionals with a range of products and services that include training, technology and software. Founded in 1983, Berkshire began as one of the first companies to establish an automated way to prepare AAPs, revolutionizing the AAP process for HR professionals nationwide.
#Resolutione conomics software
Headquartered in Columbia, Maryland, Berkshire is a leading provider of outsourced affirmative action plan ("AAP") consulting and software services, compensation analysis, EEO and other human resource compliance-related services.
Resolution Economics is a leading specialty consulting firm providing economic and statistical analysis to a variety of clients, including companies and law firms, with expertise in labor and employment matters and finance/accounting analysis. Financial terms of the transaction were not disclosed. The company expects to record an estimated $2.6 billion posttax bargain purchase gain in connection with the acquisition, and approximately $2 billion of posttax restructuring costs over the course of 20, according to the filing.LOS ANGELES, October 27, 2022-( BUSINESS WIRE)-Resolution Economics, LLC ("ResEcon") announced today that it has acquired Berkshire Associates ("Berkshire" or the "Company"). JPMorgan's resolution plan addressed the impact of its First Republic Bank acquisition. The bank formalized its existing recovery and resolution planning testing program this year, creating a capabilities assurance framework that "clearly articulates the scope, responsibilities and frequency of resolution capabilities testing." State Street also increased both the frequency and complexity of its simulations and tabletop exercises since the 2021 targeted filing.
The banks also provided responses to supervisory feedback on the 2021 targeted resolution plans.Ĭiti said that, since the previous submission in 2021, it has enhanced its resolution forecasting capabilities, enhanced operational efficiency by divesting seven of the 14 consumer businesses it plans to exit, tested its capabilities through tabletop simulations and business-as-usual activities, and showcased operational resilience capabilities. The companies detailed their strategies in key areas of resolution planning preparedness, including capital and liquidity, governance mechanisms and operational capabilities.
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The plans must detail the firms' strategies for "rapid and orderly" resolution under the US Bankruptcy Code should they face material financial distress or failure. Nonbank financial companies and bank holding companies with total consolidated assets of $250 billion or more periodically submit these resolution plans to the FDIC, the Federal Reserve Board and the Financial Stability Oversight Council, as per the act, as amended by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). released the public sections of resolution plans submitted by eight big US banks under section 165(d) of the Dodd-Frank Act.Įight large US banks - Citigroup Inc., the Bank of New York Mellon Corp., Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, State Street Corp. The Federal Reserve Board and the Federal Deposit Insurance Corp.
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