Indianapolis-based Sanctuary Wealth ousts CEO, but won’t say why
Ousted CEO Jim Dickson founded Sanctuary in 2018 after the firm acquired Indianapolis-based David A. Noyes & Co., which in 2020 changed its name to Sanctuary Securities Inc.
Susan Orr
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Zionsville-based Group 1001 reports ransomware attack
The insurance holding company says all of its systems are back online following the Feb. 9 discovery of a ransomware attack that affected several of its subsidiary firms. But it hasn’t yet said how many individuals might have be affected by the attack.
Republic sues flight school students over deal for reduced tuition
The Indianapolis-based airline and its flight school have sued a dozen former students the airline says failed to honor their commitment to fly for Republic after graduation.
Ivy Tech to roll out new Ivy+ tech training program this month
Ivy+, which will offer non-degree credentials and skills training, launches in mid-March in Muncie, with an expected statewide rollout by the end of the month. Ivy Tech says it expects to enroll a cumulative 6,000 students by the end of next year, helping to ease Indiana’s tech workforce shortage.
Stifel sues rival financial firm over mass exodus from Indianapolis office
Stifel is suing a newly-formed competitor firm, Sapient Capital, alleging that Sapient conducted an “orchestrated raid” of Stifel’s 96th Street office, convincing nearly all the employees to jump ship and attempting to bring their clients and their $10 billion in assets with them. Sapient characterizes the situation differently.
For many Indy law firms, downtown remains where it’s at
Downtown law firms say they have good reasons to remain in the heart of the city—from logistical concerns to the desire for a central location to the prestige factor they associate with a downtown address.
New Purdue president outlines vision for school’s future in Indianapolis
The university intends for its realigned Indianapolis campus to act as a center for the fields of cybersecurity, data analytics, manufacturing, microelectronics, artificial intelligence and engineering—“the fields from which the biggest changes are coming.”
Judge dismisses wrongful death suit against Indy, IMPD in ex-IU football player’s shooting death
Chief Judge Tanya Walton Pratt disagreed, writing in her order that the complaint “is devoid of facts that any defendant acted to create or enhance a danger Chris Beaty otherwise would not have faced.
Pay-transparency trend reaches Indiana as push for equity gains momentum
Compensation has long been a taboo topic around most watercoolers, but that’s changing as more states are forcing companies to open up about their salaries.
Settlement reached in civil suit against former Celadon execs
The settlement comes more than three years after the U.S. Securities and Exchange Commission filed suit against former Celadon executives Eric Meek and Bobby Peavler.
Indiana gets the nod to proceed with federal hydrogen hub proposal
The Indiana coalition, which received U.S. Department of Energy encouragement to submit a full proposal, is now deciding whether to join forces with other applicants for a better chance of securing a portion of $7 billion in federal funding.
Some companies captured the rise in venture capital but now see slowdown
Local sources see the current slump in venture investing as a correction following a period of overheated activity.
Pier 48 keeps serving as legal wrangling continues
The saga of disputes among the restaurant’s four founders has a new chapter, with a lawsuit filed last month against one founder by an Indianapolis financial adviser whose allegations offer a different version of events than do previous complaints.
Rebooted data privacy legislation making its way through Statehouse
A data privacy bill died in the House last year, but a Fort Wayne lawmaker said she did “an entire rewrite” before introducing a new version of the bill this year, and she’s optimistic it will gain more support.
First Internet Bank to exit consumer mortgage business
Fishers-based First Internet said the decline in the housing market and the sector’s negative outlook for the next few years prompted it to get out of the consumer mortgage business.
Old National Bank sues over failed software
The Evansville-based bank is suing financial technology firm Backbase over what it calls Backbase’s “unmitigated failure” to fulfill $18 million in software contracts for a Chicago bank Old National acquired.
Broad Ripple-based software startup Yourco selected for SXSW pitch contest
Yourco, which offers a text-messaging-based communication for non-office workers, is one of 40 companies from around the world selected to participate in a pitch contest at SXSW, the massive tech/arts/cultural event in Austin, Texas.
Indianapolis software firm Authenticx lands $20M in growth capital
Authenticx offers business communications software that allows health insurers and health care systems to analyze millions of client interactions such as phone calls and emails, helping customers improve their interactions with patients.
Indiana Wesleyan is going big on non-degree educational programs
Over the past few years, the private college has begun offering non-degree credentials and will be ramping up even more to help students upgrade their careers.
IEDC looking to key U.S. markets to generate investments in Hoosier state
The IEDC says it would like to hire two more people this year, perhaps on the East Coast and in the Southeast, who can also scout for companies that might be persuaded to invest in Indiana.