Finance
9fin hires Kerry McClelland as VP Finance
- 9fin has further expanded its senior leadership team by hiring Kerry McClelland as VP Finance
- The company now has nearly 200 employees across three global offices and continues to grow its team
NEW YORK, June 14, 2024 /PRNewswire/ — 9fin (https://9fin.com/), a news and analytics platform for debt capital markets, has announced the hire of Kerry McClelland as its first VP Finance.
As VP Finance, Kerry will be responsible for shaping 9fin‘s financial operations and strategy as the company continues to scale through 2024 and beyond.
Kerry has a wealth of experience, having previously worked as a CFO for Fiit, a leading B2B SaaS fitness app. She also has a strong understanding of capital markets from her time at HSBC and Europa Capital; this new role marks her return to the world of corporate finance.
This hire comes as 9fin has expanded its team to nearly 200 people, and follows the recent opening of its third global office hub in Belfast.
Kerry will report directly to 9fin‘s CEO and co-founder Steven Hunter.
Kerry said:
“I’m really excited to return to the leveraged finance domain — and what better way to do it than by joining 9fin? It’s a great opportunity to sink my teeth into something new, but in an industry I’m already familiar with, and which perfectly combines my banking and SaaS backgrounds. I’m looking forward to leading a stellar team and building out a strategy that helps us grow sustainably and successfully.”
Steven said:
“We’ve rapidly grown from a startup of 10 people in a small office in London to nearly 200 employees across three global offices. I’m delighted to welcome Kerry to our leadership team. Her expertise will be instrumental in helping us build a best-in-class finance function and I look forward to working closely with her.”
For more information, or to arrange an interview with Kerry McClelland or Steven Hunter, contact Sanaa Siddiqui, +447421329653, [email protected]
About 9fin
9fin is the faster, smarter way to find intelligence on leveraged credit. Our AI-powered data and analytics platform centralises everything that’s needed to analyse a credit or win a mandate in one place, helping subscribers win business, outperform their peers, and save time. 9fin is trusted by the largest asset managers in the world, leading law firms and advisers in debt capital markets, and nine of the top 10 investment banks.
Photo: https://mma.prnewswire.com/media/2438770/9fin.jpg
SOURCE 9fin Limited
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Hoskinson Gives Insight on Cardano DeFi and ADA Holders
Cardano founder Charles Hoskinson has responded to renewed criticism about the network’s total value locked (TVL) and relatively sluggish decentralized finance (DeFi) growth.
On October 31, Hoskinson acknowledged the gap between Cardano’s DeFi activity and leading blockchains like Ethereum and Solana. However, he said the numbers fail to capture the network’s broader participation and governance strength.
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Cardano Bets on Bitcoin Interoperability to Unlock Billions in DeFi Liquidity
Hoskinson pushed back on the long-standing belief that introducing major stablecoins such as USDT or USDC would automatically transform Cardano’s DeFi ecosystem.
“No one’s ever made the argument and explained how the existence of one of these larger stablecoins is magically going to make Cardano’s entire DeFi problem go away, make the price go up, massively improve our MAUs, our TVL, and all these other things,” he said.
He argued that their arrival alone would not solve the network’s structural challenges or guarantee growth.
According to him, Cardano already has native, asset-backed stablecoins like USDM and USDA that can be minted at will and rarely lose their peg.
Instead, Hoskinson pointed to user behavior as the main reason Cardano’s DeFi TVL remains small.
For context, he noted that the network has about 1.3 million users who stake or participate in governance, collectively holding more than $15 billion in ADA.
However, those figures don’t count toward TVL metrics, and most ADA holders remain passive participants rather than active liquidity providers.
“Cardano has a fertile ecosystem. There’s a lot of people floating around. There’s a lot of people who hold ADA, who have Cardano wallets, who have been in our ecosystem — in many cases more than five years. But not a lot of those people have crossed the chasm to use DeFi in Cardano,” he stated.
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He added that this distinction creates a “chicken-and-egg” loop for Cardano’s ecosystem. According to Hoskinson, the network’s low activity deters partnerships and liquidity, while the lack of external integrations further limits on-chain adoption.
To counter these limitations, Hoskinson outlined a multi-year roadmap that ties DeFi growth to real-world finance and Bitcoin interoperability.
He highlighted the Midnight network—a privacy-focused sidechain—and RealFi, a microfinance platform targeting African markets, as key initiatives.
Both will integrate with Bitcoin DeFi, allowing ADA and BTC to be lent, converted into stablecoins, and used in real-world lending products.
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Hoskinson expects this combination to drive “billions of dollars” in new liquidity while attracting Bitcoin’s vast capital base. He also cited ongoing projects such as Leios, as proof that Cardano continues to evolve at the protocol level.
Still, he conceded that Cardano’s core issue is coordination and accountability, not technology.
“It’s not a technology problem. It’s not a node problem. It’s not a problem of imagination and creativity. It’s not a problem of execution. We can pretty much do anything. It’s a problem of governance and coordination and ultimately accountability and responsibility,” Hoskinson said.
To fix this, he proposed delegating clear responsibility for ecosystem expansion. He also called for targeted marketing and event strategies to mobilize ADA holders toward DeFi participation.
“The problem isn’t the ability to do a marketing campaign. The problem isn’t our ability to ship great software. It’s that there’s no one accountable to actually conceive of it, execute it, and be held accountable to the outcome of it. That’s the problem in a nutshell. So that is the problem we have to solve next year as we look to 2026,” He stated.
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