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Do vendors’ service models maximise value for clients?
Journal of Securities Operations & Custody,
11
(4),
317-326
(2019)
Abstract
This paper takes the form of a panel discussion, being an extended version of one that took place at Global Custody Forum in London in December 2018. It examines where service providers are as regards having service models that truly serve their clients, with asset managers and asset owners sharing their experiences and examining how things have evolved in the past five years. While there is hope that such vendors might develop the skill set expected of a professional services firm, there is a fundamental drag with providers not truly appreciating their shortfalls and not taking the baton to drive service-quality improvement. Often alone in the driving seat, asset managers and owners must focus internal resources to pinpoint where improvement is required and look beyond outmoded traditional client satisfaction surveys to more rigorous in-house and external tools. This paper rounds off with a broader perspective on firms’ current initiatives for attaining operational excellence both in-house and at their vendors.
Keywords: Global Custody Forum; service providers asset managers; asset owners; vendors; client satisfaction surveys
The full article is available to subscribers to the journal.
Author's Biography
Andy Stephenson is Founder of ServiceMatrix. Andy has had diverse roles, including running his own consulting firm and founding ServiceMatrix since being a global product lead at Chase Manhattan and a member of the executive team at a major professional services firm.
Kudjoou Bakpessi is Supplier Relationship Manager, Operations Group, for M&G Prudential. Kudjoou is a bilingual Senior Relationship Manager in international financial services, specialised in post-trade and banking services. She has been in her current position for three years following a wide range of roles with Euroclear over 12 years.
Lawrence Inman is Global Relationship Manager for Aviva Investors. A buy-side professional for 30 years, Lawrence is currently responsible for the operational service and oversight governance relationships with service providers, having previously worked for extensive periods at Newton Investment Management and Henderson Global Investors.
Ryan Mitchell is Head of Third Party Management, Operational Change and Project, for First State Investments. Ryan has been with First State Investments since 2012, following roles with global custodians Bankers Trust, Deutsche Bank and State Street Bank & Trust Company.
Sara Poldaas is Head of Investment Operations at Mawer Investment Management Ltd. At Mawer and previously Goldman Sachs International, Sara has driven strategic thinking, creative problem solving and client service excellence — through building and leading high-performing teams, cultivating an enviable workplace culture and effective relationship management.
