Our clients include some of the world’s largest banks, asset managers, wealth managers and financial technology providers.
Our clients choose us based on our deep understanding of the forces that shape the financial services industry.
Regulatory ChangesThough post financial crisis (2007-2009) regulatory changes are beginning to taper off, regulatory driven challenges have not reduced – they have merely shifted, to areas that are equally demanding.
- Regulatory Divergence (e.g. costing $780bn per year (IFAC and BIAC, 2018); GDPR driven by EU vs possible easing of regulation in US)
- Culture and Governance (increased oversight of firms’ governance and risk management frameworks)
- Operational Disruption (greater focus by regulators on operations, IT and cyber risks)
- RegTech (disruptive new technology for regulatory monitoring, reporting and compliance)
Global Capital Markets Firm
Our client is a global capital markets firm that was under regulatory pressures due to a breakdown in controls which led to a significant increase in operational fails.
Competitive LandscapeRegulation, technology and changing customer (consumer and institutional) behaviors are crossing competitive lines – in turn impacting the overall financial services ecosystem.
- Asset Managers leveraging Robo-Advisors (e.g. BlackRock purchase of FutureAdvisor, Schwab’s Intelligent Portfolio offering)
- RIA Consolidation (e.g. over 180 merger & acquisitions in 2018 vs 90 in 2013)
- Bulge Bracket Retrenchment (e.g. Deutsche Bank exiting global equities)
- FinTech Rollups & Acquisitions (e.g. State Street acquisition of Charles River, London Stock Exchange acquisition of Refinitiv)
Global Asset ManagerOur client is a global asset manager focused on increasing its market share in the insurance sector. The insurance market for asset management was estimated to be more than $7 billion, of which over 90% was managed in-house by the insurance companies themselves.
Technology DisruptionEmerging technologies continue to be a transformative force, disrupting and accelerating changes to business models and operating models.
- Connected Data (both retail and wholesale financial institutions have more data on their customers than anyone else, and need to address data in silos, incompatible formats, privacy concerns, and more)
- Blockchain (across all sectors, the potential from greater transparency, traceability and operational efficiency from Blockchain are evident, but significant challenges remain to get to critical mass)
- Artificial Intelligence (currently in early adoption phases, but gaining traction especially in risk management, fraud prevention, trading, process automation)
- Digital transformation (increased focus on the ability to connect the dots between new competitive pressures, increased regulatory complexity, emerging technologies and changing customer expectations)
Global Wealth Manager
Our client is a global wealth management firm that was establishing a digital platform to provide a better user experience for its clients to increase its mass affluent sector penetration.
Scale & Efficiency
As financial firms aim to restore their return on equity to healthier levels, the cost reduction imperative will remain as revenue and margin pressures continue.
- Business Process Optimization (through automation, simplification and operational innovation)
- Location and Sourcing Strategy (driven by business strategy, the need to balance operational flexibility, talent availability, risks, tax, regulation and costs)
- Improved Operating Models (e.g. enabled by emerging technologies, more efficient front to back operating models using shared services)
- Partnerships for Scale (collaborative, strategic partnerships have become the new imperative to implement and scale digital strategies)
Global Universal Bank
Our client is a buy-side firm that needed to streamline its legacy technology stack which evolved over 20 years and included in-house, third-party, and hybrid solutions.