Breaking news

Prominent Cyprus-US Businessman Dinos Iordanou Passes Away

by THEFUTURE.TEAM

June 17, 2024

Constantine (Dinos) P. Iordanou, a prominent Cyprus-US businessman, passed away suddenly on June 16 at the age of 71. Iordanou was a respected figure in both the Cypriot and American business communities. He served as an independent non-executive member of the Board of Directors of the Bank of Cyprus and chaired its Audit Committee. His illustrious career in the United States included senior positions at major insurance firms such as AIG, Berkshire Hathaway, and Zurich Financial Services. He was the chairman and CEO of Arch Capital Group until his retirement in 2019.

Iordanou’s career was marked by significant achievements and contributions to the insurance and finance industries. At Arch Capital Group, he played a crucial role in the company’s growth and success, establishing it as a leading global insurance and reinsurance provider. His leadership and strategic vision were instrumental in driving innovation and profitability.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

In addition to his corporate roles, Iordanou was actively involved in philanthropic efforts and community development. Recently, he was engaged in the development of a new stadium for APOEL, a prominent football club in Cyprus, reflecting his commitment to supporting local initiatives and sports infrastructure.

Iordanou’s passing is a significant loss to the business world and the communities he served. His legacy is characterized by his dedication, leadership, and the positive impact he had on the organizations and people he worked with. He leaves behind a lasting influence on the insurance industry and a strong example of cross-continental business success.

The Future Forbes Realty Global Properties

Chime’s Nasdaq Debut: A 37% Leap in the Fintech Arena

by News Editor

June 13, 2025

Chime set to debut on Nasdaq

On June 12, 2025, Chime had a groundbreaking debut on Nasdaq, where its shares surged by an impressive 37%. Initially priced above the expected range at $27, the shares closed the day at $37.11, setting a new market cap of $13.5 billion. From a valuation of $25 billion in its last venture round, this IPO marks a recalibration for Chime amidst evolving market dynamics.

The offering raised roughly $700 million, with an additional $165 million from existing shareholders. Despite the lower valuation, CEO Chris Britt highlights Chime’s commitment to serving Americans earning $100,000 or less, often overlooked by traditional banks. “We help our members avoid fees, access liquidity, and build savings,” Britt stated confidently.

Chime’s strong revenue momentum, with $518.7 million reported last quarter and a revenue increase by 32% year-over-year, underscores its growth potential. The company also achieved $25 million in adjusted profitability, improving its profit margin by 40 points over the past two years.

Chime now stands among fintech giants like eToro and Circle, rekindling investor interest in fintech IPOs. The future looks promising as other players like Klarna and Bullish eye public offerings.

For further insights into fintech innovation and investment opportunities, explore European Banking Evolution: Cyprus as a Catalyst for Regulatory Innovation and discover how Cyprus continues to play a pivotal role in financial advancements.