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TSS in the News:
Wells Fargo's Q4 profit up 20%
Wells Fargo & Co. on Tuesday said its fourth-quarter profit rose 20 percent, boosted by better performance of loans and a steadying mortgage business.
San Francisco-based Wells Fargo (NYSE: WFC) reported fourth-quarter net income of $4.11 billion, or 73 cents per share.
That compares with net income of $3.4 billion, or 61 cents a share, in the same period a year earlier.
Analysts were expecting earnings of 72 cents per share.
The bank's fourth-quarter revenue fell to $20.6 billion from $21.5 billion a year earlier.
“I’m extremely pleased with Wells Fargo’s performance in 2011 -- including strong deposit and loan growth, record cross-sell and record earnings,” John Stumpf, the bank’s chairman and chief executive officer, said in a statement.
For the full year, Wells Fargo reported a $15.9 billion profit, up 28 percent from 2010, when the bank earned $12.36 billion.
Investment banks vie for Facebook IPO
Goldman Sachs Group Inc. and Morgan Stanley are reportedly
among the competitors for the top investment banking role in Facebook Inc.’s
IPO expected in 2012, according to the Wall Street Journal on Friday.
For the rest of the story, click here.
Happy Holidays and a prosperous 2012!!!

From the TSS Team
Thank you to all of
the TSS Temporary employees who participated in our holiday food drive. WHAT A
SUCCESS!

This week's best comment on Bank Innovation comes from Alex Johnson. He discusses how online banking services need to become more intuitive in order to drive customer engagement. Check out what he wrote here, and chime in on the conversation.
TSS Total Staffing Solutions, Inc. is proud to announce our new Executive Finance & Accounting division. For over 29 years we have helped you find the right Accounting, Bookkeeping, Banking and Administrative talent.
Our loyal clients have expressed their need for assistance with their C-Level placements in Finance and Accounting. In response to this request, TSS has taken their own hiring advice and hired the best person, Martin Shmagin, to head up our Executive Finance & Accounting division.
Martin E. Shmagin - Chief Financial Officer
Martin has over 38 years of experience and vast knowledge in mergers & acquisitions, start-ups and turn-around management. He is a hands-on CFO that has successfully managed several East and West Coast companies.
Martin Shmagin started his career at Grant Thornton LLP (formally Alexander Grant & Company) in 1973. Over the years, Martin has held multiple executive level positions at a variety of corporations in areas of: Building Supply, Consulting, Moving & Storage, Overseas Forwarding, Paper Mills, Personnel Services, Pharmaceuticals, Real Estate and Transportation.
In 2005, Martin joined Urigen N.A., Inc. as the Chief Financial Officer. He orchestrated a reverse merger of Urigen N.A., Inc. with Valentis, Inc. in 2007 which subsequently changed its name to Urigen Pharmaceuticals, Inc. Martin remained Chief Financial Officer until his departure in 2011.
Martin Shmagin has served as CEO of Innovative Financial Solutions Ltd., a CFO consulting firm for start-up through mid-size businesses, for over twenty years. During this time, he also took on TSS Total Staffing Solutions, Inc. and became their part-time CFO. Skilled in mergers & acquisitions, Martin lent his expertise and assisted Stenograph Corporation with its acquisition of Baron Data Corporation in 1990 and Hanover Direct with its acquisition of Gump’s in 1994. He has also supported a $24 million global systems conversion of American President Companies, Ltd., a $2.6 billion transportation company, where he coordinated the data conversion of eighty-three subsidiaries in multiple currencies.
With Martin’s vast financial experience he can determine the right fit for you at a glance of a resume.
Given the fact that Martin has 38 years of experience, in areas ranging from auditing to CFO, who better to meet the challenge of taking the TSS Executive Finance & Accounting division head on!
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