Do vendors’ service models maximise value for clients?

Andy Stephenson, Kudjoou Bakpessi, Lawrence Inman, Ryan Mitchell and Sara Poldaas
Additional contact information
Andy Stephenson: Founder, ServiceMatrix, UK
Kudjoou Bakpessi: Supplier Relationship Manager, Operations Group, M&G Prudential
Lawrence Inman: Global Relationship Manager, Aviva Investors, St Helen’s, 1 Undershaft, London EC3P 3DQ, UK
Ryan Mitchell: Head of Third Party Management, Operational Change and Project, First State Investments
Sara Poldaas: Head of Investment Operations, Mawer Investment Management Ltd, 600, 517 — 10th Avenue SW, Calgary, Alberta, Canada

Journal of Securities Operations & Custody, 2019, vol. 11, issue 4, 317-326

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 (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2019
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