Peter J. Brennan
AutoGravity named a new chief executive and chief technology officer to replace two award-winning executives who unexpectedly departed the fast-growing Irvine fintech in the past two months.
Santa Ana-based Allied Universal, the largest private security firm in the U.S., said it will pay $1 billion to acquire U.S. Security Associates (USSA) from Goldman Sachs’ Merchant Banking Division.
Architects, Contractors Reveal Newest Trends
Vinyl flooring in a Class A building? Polished concrete floors?
Executives Say It’s a Blip, As Work Still Booming
Firms in Orange County’s tenant contractor industry reported slowing revenue growth last year, the lowest rate since 2009.
Andy Hinrichs in May departed as chief executive of AutoGravity, an award-winning fintech company he co-founded in 2016, the Business Journal has learned.
Newport Beach-based Carrick Capital Partners said it made an $80 million, series A minority investment in Exiger.
Newport Beach's Alliant Insurance Services Inc., the largest insurance broker based in Orange County, said it acquired Austin,Texas-based CLS Partners, which has more than 50 employees. Terms were undisclosed.
MARKETING: Director explains what works in ads
Ken Kerry isn’t your typical Hollywood director.
FINANCE: Santa Ana firm sees no end to tax problems
Why in the world would anyone want customers who won’t even pay the Internal Revenue Service? And confront the IRS on a daily basis? Not to mention, why enter an industry considered sleazy and where some of the biggest players have been accused of wrongdoing and ended up bankrupt?
Americor Inc., an Irvine-based consumer debt company, said it will be opening a new center with 250 employees.
The S&P 500 was down 0.5% to 2,713.22 as the markets closed at 10 a.m. for the July 4th holiday.
The headlines from the federal tax law passed in December are long gone. What’s received less notice are new regulations being issued by the Internal Revenue Service for what in accounting circles is now called the TCJA, for the Tax Cuts and Jobs Act. Companies and their accountants are strategizing how to best reduce their tax burdens and avoid unintended consequences.
FINANCE: Says Trump admin. smacking down bad rules
Linda McMahon wants Orange County small businesses to know one thing: The Donald Trump administration has their backs.
Getting Demand in Banks, Healthcare, Construction
Orange County management consulting firms ranked on the Business Journal’s annual list reported a 1.7% increase in staff consultants to 1,959 in the year ended May 31.
Local Industry Climbs For Seventh Straight Year
Orange County’s largest accounting firms accelerated hiring in the year ended May 31, pushing it up 3.3%, more than the 2.1% reported a year earlier, based on the Business Journal’s annual list.
Headhunter Beacon Lays Out the Hottest Functions
Headhunter Ryan Milne gets right to the point for those seeking a high-paying job in accounting.
RJI Edges Big 4 With Experience Sans Cost
Manuel Ramirez is reluctant to add employees. When the chairman of RJI International CPAs was asked if he might add, say, 10 more this year, he quickly said, “I hope not.”
Family Business Doubles Factory Size
A laundry cart by R&B Wire Products Inc. has a touch of Hollywood. “We’ve been making this product for so long that it’s become synonymous with our company,” said owner and Chief Executive Rick Rawlins. “It’s not just called a laundry cart. It’s called an R&B cart. It’s like Kleenex is called tissue.”
Santa Ana’s Banc of California Inc., Orange County’s largest bank by assets, plans to cut its workforce by 9% to align its cost structure to focus on commercial banking.
Windjammer Capital Investors of Newport Beach bought Rowmark LLC, a Findlay, Ohio-based manufacturer in the engraving, signage and awards markets, from Bertram Capital.
Six registered investment advisory firms based in Orange County made the Financial Times’ annual list of the “top” 300 RIAs in the United States.
Says Construction Is Driver
Jobs in Orange County, led by the construction industry, are projected to grow at a “significantly higher” rate than nationwide, according to Chapman University’s latest semiannual economic forecast.
The U.S. economy should grow 2.7% this year, up from the 2.5% predicted in December, according to the latest economic forecast from Chapman University.
Wells Fargo & Co. is closing two auto financing offices in the Irvine Spectrum, resulting in 67 employees to date leaving the firm.
Brea Firm Plays Up Employee Balance for Great Service
KPRS Construction Services Inc. is celebrating its 20th anniversary this year. That means it survived economic slowdowns caused by the internet bubble burst, the 9/11 terror attacks, and the 2008 financial collapse.
FINANCE: Midwest giant seeks to hire local talent
The Orange County banking sector is about to get even more intense.
Orange County’s unadjusted unemployment rate was 2.6% in May, unchanged from a revised April estimate, and down from 3.2% year-over-year, according to the state’s Employment Development Department.
FINANCE: NB’s Madden finds opportunities in backyard
Jim Madden doesn’t want to be a chief executive anymore. Been there. Done that.
Rimrock Capital Management LLC, an Irvine-based private equity group with $4 billion assets under management, is reorganizing LakePoint Land LLC., a 1,300-acre, Georgia complex famous for its sports facilities.
McCarthy Building Cos. Inc., the largest commercial construction company in Orange County, named Mike Myers president of the firm’s Southern California region.
Doubling Assets Every Three Years, NB Adviser Seeks $1B Valuation
Even Joe Duran has arguments about money with his wife, Jennifer.
Independent Wealth Managers Surging
The Business Journal is introducing a new list this week showing large or better-known registered investment advisers, also known as RIAs.
Firms Adapt to Trends, Including Robo Rivals
While the talk on Wall Street is about a decline in the number of stockbrokers, Orange County’s largest broker-dealers are coping.
Execs Say They’re Still Bullish on Local Startups
Venture capital firms based in Orange County decreased their local investments last year by about 22%.
Advice from OC Financial Advisers
More than 1,000 financial advisers work in Orange County, spread across more than 100 financial firms. Some trade stock for broker dealers. Some provide advice, along with insurance. Some are registered investment advisers, also known as RIAs, providing only investment advice. And others offer a combination of all services.
The financial world is in an ongoing contentious debate—escalated by recently enacted regulations on fiduciaries—about the definition of a registered investment adviser versus an investment adviser who may also sell stocks and/or insurance.
Some Firms Stay Under Radar as Assets Swell
Orange County is home to a number of famous financial firms, including Pacific Investment Management Co. and Pacific Alternate Asset Management Co.
AutoGravity, an Irvine-based auto-lending fintech, hired Jennifer Ishiguro as executive vice president and general counsel.