Latest news with #Miebach
Yahoo
25-04-2025
- Business
- Yahoo
Mastercard CEO says consumers' fears about the economy haven't affected their spending yet: 'They still want to make that trip'
Consumer confidence levels may be dropping, but consumer spending doesn't reflect it. That's according to Mastercard CEO Michael Miebach, speaking at Semafor's World Economy Summit. "The consumer today is an empowered consumer that will still stick to what they want to do," he said. Consumer confidence has taken a hit amid economic uncertainty, but you wouldn't know it based on current consumer spending figures at one major credit card. Mastercard CEO Michael Miebach said spending hasn't noticeably changed yet in spite of growing anxieties about shifting tariffs, a possible recession, and the weakening dollar. "The consumer today is an empowered consumer that will still stick to what they want to do," Miebach said at Semafor's 2025 World Economy Summit on Wednesday. "They still want to make that trip." Miebach said that while "soft data" like headlines and consumer confidence studies would suggest a pullback in consumer spending, there is currently no evidence of that in the real-time spending information that Mastercard monitors. "The hard data is not reflecting yet where the consumer is," he said. In March, for example, Miebach noted there'd been a 1.4% increase in consumer spending, which he said was "nothing out of the ordinary." "It's the most asked question that I get and then when I say what I just said. People say there must be something more," he said. "But right now there is not." Consumer confidence registered at 92.9 in March, dropping to its lowest level since 2021, according to the Conference Board's latest survey. Wall Street is keeping a watchful eye on consumer sentiment, as a weaker outlook on spending could put a dent in corporate earnings and impact the stock market. Read the original article on Business Insider Sign in to access your portfolio
Business Insider
24-04-2025
- Business
- Business Insider
Mastercard CEO says consumers' fears about the economy haven't affected their spending yet: 'They still want to make that trip'
Consumer confidence levels may be dropping, but consumer spending doesn't reflect it. That's according to Mastercard CEO Michael Miebach, speaking at Semafor's World Economy Summit. "The consumer today is an empowered consumer that will still stick to what they want to do," he said. Mastercard CEO Michael Miebach said spending hasn't noticeably changed yet in spite of growing anxieties about shifting tariffs, a possible recession, and the weakening dollar. "The consumer today is an empowered consumer that will still stick to what they want to do," Miebach said at Semafor's 2025 World Economy Summit on Wednesday. "They still want to make that trip." Miebach said that while "soft data" like headlines and consumer confidence studies would suggest a pullback in consumer spending, there is currently no evidence of that in the real-time spending information that Mastercard monitors. "The hard data is not reflecting yet where the consumer is," he said. In March, for example, he pointed out a 1.4% increase in consumer spending, which he said was "nothing out of the ordinary." "It's the most asked question that I get and then when I say what I just said. People say there must be something more," Miebach said about consumer spending. "But right now there is not."
Business Insider
24-04-2025
- Business
- Business Insider
Mastercard CEO says consumers' fears about the economy haven't affected their spending yet: 'They still want to make that trip'
Consumer confidence levels may be dropping, but consumer spending doesn't reflect it. That's according to Mastercard CEO Michael Miebach, speaking at Semafor's World Economy Summit. "The consumer today is an empowered consumer that will still stick to what they want to do," he said. Consumer confidence has taken a hit amid economic uncertainty, but you wouldn't know it based on current consumer spending figures at one major credit card. Mastercard CEO Michael Miebach said spending hasn't noticeably changed yet in spite of growing anxieties about shifting tariffs, a possible recession, and the weakening dollar. "The consumer today is an empowered consumer that will still stick to what they want to do," Miebach said at Semafor's 2025 World Economy Summit on Wednesday. "They still want to make that trip." Miebach said that while "soft data" like headlines and consumer confidence studies would suggest a pullback in consumer spending, there is currently no evidence of that in the real-time spending information that Mastercard monitors. "The hard data is not reflecting yet where the consumer is," he said. In March, for example, he pointed out a 1.4% increase in consumer spending, which he said was "nothing out of the ordinary." "It's the most asked question that I get and then when I say what I just said. People say there must be something more," Miebach said about consumer spending. "But right now there is not." Consumer confidence registered at 92.9 in March, dropping to its lowest level since 2021, according to the Conference Board's latest survey. Wall Street is keeping a watchful eye on consumer sentiment, as a weaker outlook on spending could put a dent in corporate earnings and impact the stock market.
Daily Tribune
18-03-2025
- Business
- Daily Tribune
Investcorp Acquires Majority Stake in German Supply Chain Consultancy Miebach
Global alternative investment firm Investcorp has signed a definitive agreement to acquire a majority stake in Miebach Logistik Holding GmbH, a leading provider of supply chain and logistics consultancy services. The deal, whose financial terms remain undisclosed, will see Miebach's existing equity partnership retain a significant minority stake. Headquartered in Frankfurt am Main, Germany, Miebach was founded in 1973 by Dr. Joachim Miebach and has since grown into a global leader in supply chain and logistics consulting. The company operates in a market valued at approximately €30 billion, with projected double-digit annual growth driven by increasing demand for supply chain resiliency, sustainability, digitalization, and automation. Miebach's services range from strategic supply chain development to engineering implementation, offering digital solutions tailored to clients' warehousing infrastructure. With over 500 employees across 27 offices in 20 countries, the firm serves international blue-chip clients across multiple industries. Through its partnership with Investcorp, Miebach aims to expand its organic growth strategies while developing a focused mergers and acquisitions (M&A) approach. 'Investcorp is pleased to acquire and partner with Miebach. As a global leader in supply chain consulting, logistics, and material flow engineering, Miebach has established itself as an end-to-end consultant for international clients with complex supply chain needs,' said Yusef al Yusef, Global Head of Distribution at Investcorp. 'With our expertise in scaling specialized service firms and enhancing their technology-enabled offerings, we look forward to collaborating with Jürgen, Jorge, and the entire Miebach team to build on their impressive track record and strong market position.' Jürgen Hess, Co-CEO of Miebach, expressed optimism about the partnership, stating, 'Miebach has built a strong reputation and loyal client base over the past decades, positioning us for the next phase of our growth journey. With Investcorp's support and their extensive experience in professional services, we will further enhance our service offerings and strengthen our 'One Miebach' strategy to better serve new and existing clients.' Jorge Motje, Miebach's Co-CEO, echoed this sentiment, noting, 'Investcorp's values and vision align with our mission and growth ambitions. Their understanding of specialized services and how to scale a global business makes them an ideal partner for Miebach. We look forward to a successful collaboration as we continue our expansion.' Investcorp's European private equity division has invested approximately €2.1 billion in companies across Europe since 2012. The Miebach acquisition marks the firm's fifth investment in the past 15 months, following deals involving SEC Newgate, Outcomes First Group, Stowe, and Epipoli, further solidifying Investcorp's leadership in service-oriented businesses. The transaction is expected to be completed in the second quarter of 2025, pending customary regulatory approvals.
The National
17-03-2025
- Business
- The National
Investcorp buys majority stake in German supply chain and logistics consultancy Miebach
Bahrain's Investcorp, the biggest alternative asset manager in the Middle East, has signed a definitive agreement to acquire a majority stake in German supply chain and logistics consultancy Miebach. Following the transaction, Miebach's existing equity partnership will retain a significant minority stake in the company, Investcorp said in a statement on Monday. It did not disclose the terms of the deal. The transaction is expected to close in the second quarter of 2025 and is subject to customary regulatory clearance. As part of the deal, Miebach will continue to expand its organic growth initiatives, while developing a focused mergers and acquisition strategy, Investcorp said. 'As a global leader in supply chain consulting, logistics and material flow engineering, Miebach has established itself as the end-to-end consultant for truly international clients seeking highly complex supply chain solutions,' Yusef Al Yusef, global head of distribution at Investcorp, said. Since 2012, Investcorp's European private equity group has invested about €2.1 billion ($2.28 billion) in companies across Europe. The acquisition of Miebach is the group's fifth investment over the last 15 months, following the more recent acquisitions of SEC Newgate, Outcomes First Group, Stowe, and Epipoli. Set up in 1973 with headquarters in Frankfurt, Miebach provides specialised global supply chain and logistics consultancy services, a market estimated to be worth about €30 billion and expected to grow at double-digit rates annually, according to Investcorp. Miebach's services extends from the development of supply chain strategies to engineering designs, while providing digital services to the client's warehousing infrastructure. The company employs more than 500 people with offices in 20 countries, providing services to various industries and international blue-chip clients across the world. 'The supply chain and logistics consultancy market is exposed to long-term trends, and is expected to benefit from positive tailwinds in supply chain resiliency, sustainability, digitalisation and automation,' Investcorp said. Established in 1982, Investcorp invests across asset classes through its six business lines: private equity, real estate, absolute return investments, infrastructure, credit management and strategic capital. Its assets under management have grown to $55 billion and it aims to boost it to $100 billion by investing in areas including the Americas, Europe and the broader Asia region, including the Middle East.
