Employee Spotlight: Shyanika Benimadhu

Shyanika Benimadhu is FRT’s Head of Business Development based in London, England. Hailing from Mauritius, Shy brings an incredible depth of knowledge in the field of business development and strategy. Having graduated from the University of Cambridge with a master’s in economics and completing a management course at Wharton, Shy eventually joined FRT to open the United Kingdom office. Currently, Shy wears many hats establishing FRT’s presence in EMEA, however, her focus is leading and developing relationships with partners and custodian bank clients while understanding the evolution of our clients and the market.

1. What brought you to FRT & what keeps you here?

I had colleagues who worked at FRT and they told me how great it was. They said it was a technology company that was growing very quickly. I was given an opportunity, alongside another colleague, to establish the business in Europe and I thought that would be a pretty exciting project, so I took on the role and ever since then it has been an amazing challenge. It is very rewarding and exciting to see how our European client base has grown since opening the office back in April 2018 and being able to play a role in building out the operations within our London office.

2. What are your top priorities and biggest challenges at FRT?

Our biggest priority is continuing to build our brand and grow our business in EMEA. Another priority, but also a challenge, that comes with growth is making sure we have the right resources – i.e. we are well staffed to be able to service our clients and deliver the results they expect. We want to make sure we get that right and everything else follows suit. Being a small team and seeing tremendous client growth is a challenge, albeit a good one to have.

3. What does your typical work day look like?

There really is no “typical day” for us because I travel quite a lot to meet with existing clients and prospects. I also attend conferences and other marketing events on behalf of FRT. On the days that I’m in the office, I’ll check emails, touch base with clients and prospects, scour the news to see what’s happening in the market, and catch up with the teams, both in London and Boston, to see where we are in terms of projects coming through the pipeline. I primarily work with three different teams at FRT and, due to the time difference, I only have about three hours to check in and make sure we’re all on the same page, so I take advantage of that time I have with them.

4. What is FRT doing to ensure that they’re adapting to the changing landscape of class action recovery industries while continuing to meet the needs of our current and future clients?

FRT continues to stay ahead of the curve and does a great job at anticipating future market developments. Our teams are aware of market changes and ensure our products and services cater to the present and future state of the industry. Because the landscape is constantly evolving, one of the trends we noticed a few years ago was many of our pension clients were opting out of U.S. Class Actions. This led to the creation and roll out of our Opt-Out Monitoring Solution to support clients with those decisions. Another milestone to highlight is building out our international operations which has been extremely important to FRT as we continue to grow in EMEA & APAC.

5. How do you define success?

Success is having a thriving business and for FRT, not only in Europe, but globally, as well. Also, it is important to have a highly functioning team all striving toward the same goal. You can’t grow a business with unhappy employees, and you can’t be successful if your business isn’t growing.

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For more information on what our employees have to say about their experiences with FRT, check out our careers page.

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

Founded in 2008, Financial Recovery Technologies (FRT) is the leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

Euroyen Case Update (April 2020): 2nd Circuit Reverses Court Decision to Dismiss Previous Suit

On April 1, 2020, the Second Circuit Court reversed a decision dismissing the 2015 suit involving allegations that defendants manipulated and/or aided in the manipulation of two daily benchmark rates – the Yen-LIBOR and Euroyen TIBOR – which impacted the prices of Euroyen-based derivatives between January 1, 2006 and June 30, 2011.

In March 2017, a New York Federal Court dismissed the case after finding that investor plaintiffs did not have standing to bring their Antitrust claims against the defendant banks. The 3-judge Second Circuit overturned the Federals Court’s decision stating that the plaintiffs provided sufficient detail outlining that they had suffered a direct economic impact as a result of the alleged manipulation of interest rates.

Several of the defendant banks previously settled with investors bringing the settlement pool to $307 million, including:

  • 2016: HSBC and Citibank
  • 2017: J.P. Morgan Chase & Co and Deustche Bank AG
  • 2018: Bank of Tokyo-Mitsubishi UFJ Ltd., Mitsubishi UFJ Trust, Banking Corp, Sumitomo Mitsui Trust Bank
  • 2019: The Bank of Yokohama Ltd., Shinkin Central Bank, The Shoko Chukin Bank Ltd., Resona Bank Ltd., Mizuho Bank Ltd., The Norinchukin Bank and Sumitomo Mitsui Banking Corp.

To date, 15 out of the 30 named defendants have currently settled with investors. With 15 outstanding defendants yet to settle, remanding this case back to the lower court could  lead to future opportunities for impacted investors to recover settlement dollars.

Additional resources:

Subscribe to FRT’s Monthly Newsletter

Financial Recovery Technologies’ Shareholder Litigation Fast Five provides you with the top news in shareholder class actions. This is your exclusive summary of the latest industry developments related to settled, group and antitrust actions and recovery opportunities. Click here to subscribe.

Learn More

To learn more about how FRT can help your firm maximize recoveries in shareholder class action settlements, contact us at learnmore@frtservices.com.

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

Founded in 2008, Financial Recovery Technologies (FRT) is the leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

Resources for Institutional, Wealth and Retail Investment Firms During Times of Market Volatility

Financial Recovery Technologies is committed to sharing the latest industry news, developments and best practices with assets owners and asset managers. We have compiled a list of resources beneficial for asset owners and asset managers to help them better understand and prepare strategies during times of market volatility. 

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>> Exchanges Must Keep Running Despite Volatility: WFE (click to read the full article)

Financial Technologies Forum; Published on March 25, 2020

The World Federation of Exchanges (WFE) offers a guide to best practices for its members coping with a pandemic wreaking havoc on global markets.

>> Understanding Volatility if You’ve Never Encountered It Before (click to read the full article)

TradeStation Market Insights; Published on March 26, 2020

The last month has been one of the most volatile in the history of the stock market. Here are some things to know if you’re new to investing and it scared you.

>> How to Handle Volatility (click to read the full article)

Morgan Stanley Wealth Management; Published on March 19, 2020

Markets have gotten much more volatile recently. Here’s why investors should keep their focus on the long game.

>> How Advisors Can Help Retirement Clients Weather a Market Meltdown (click to read the full article)

ThinkAdvisor; Published on March 24, 2020

Amid continued concerns over the coronavirus and stock market volatility, advisors should remain calm and communicate clearly to clients that, in the vast majority of cases, it remains prudent to stay the course with their retirement portfolios, according to retirement experts at Morgan Stanley and other firms interviewed by ThinkAdvisor.

>> With Market Volatility, Consider Goals-Based Planning Over Investment-Based Planning For Retirement (click to read the full article)

The Street; Published on March 20, 2020

For many years, you’ve likely been a member of the investment-based planning crowd. That’s the crowd that seeks the highest investment return or seeks to beat a benchmark. Well, now, amidst all this volatility in the markets, might be the time to consider a different approach to your investment portfolio—goals-based planning.

>> A Strategy for Taking Advantage of the Market Meltdown (click to read the full article)

The Wall Street Journal; Published on March 26, 2020

With tax rates low and asset values beaten down, many people stand to benefit from using Roth IRA conversions to create tax-free income in retirement.

>> Volatility is Still With Us, But a Return to Logic is a Welcome Thing (click to read the full article)

Nasdaq; Published on March 3, 2020

Because the word that has been so overused over recent weeks, it is important to remember that “volatility” does not mean just downward movement; it means violent swings in the market. If yesterday’s gains had been a couple of hundred points or so, it would suggest that things were slowing down. Such a big jump, however, is still technically volatility. Moving higher gives some relief to battered investors, of course, but it isn’t really a sign of consolidation.

>> The Importance of Staying Invested in Volatile Times (click to read the full article)

Morning Star; Published on March 16, 2020

Don’t flee the market in a panic, but rather embrace the turmoil as an investment opportunity–you’ll be better off in the long run.

>> Wealth Managers Urge Calm Amid Market Storm (click to read the full article)

Barrons; Published on March 17, 2020

Another day, another market rout. What’s an investor to think—and do? Alarming headlines are enough to put the coolest investors on edge. Advisors say their first priority is to quell anxiety so clients can have clear-headed discussions about what, if any, changes to make in their portfolios.

>> Future Returns: Wealth Management Tips for Volatile Times (click to read the full article)

Barrons; Published on March 10, 2020

There are constructive ways to put some nervous energy to work, not just in portfolios, but more broadly in other areas of a wealth plan.

>> Fiduciary Duties and Board Options in a Time of Pandemic (click to read the full article)

Gibson Dunn; Published on April 6, 2020

This note is a tool for directors to help them identify some of the issues they should consider to ensure that their decisions are protected by the business judgment rule as they guide their companies during these challenging times.

>> ERISA Fiduciary Best Practices During Market Instability (click to read the full article)

Law360; Published on April 8, 2020

Find out some best practices for plan sponsors and fiduciaries to consider in navigating their retirement plans through the COVID-19 market and business environment.

 

Subscribe to FRT’s Monthly Newsletter

Financial Recovery Technologies’ Shareholder Litigation Fast Five provides you with the top news in shareholder class actions. This is your exclusive summary of the latest industry developments related to settled, group and antitrust actions and recovery opportunities. Click here to subscribe.

Learn More

To learn more about how FRT can help your firm maximize recoveries in shareholder class action settlements, contact us at learnmore@frtservices.com.

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

Founded in 2008, Financial Recovery Technologies (FRT) is the leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.