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Do vendors’ service models maximise value for clients?

Author

Listed:
  • Stephenson, Andy

    (Founder, ServiceMatrix, UK)

  • Bakpessi, Kudjoou

    (Supplier Relationship Manager, Operations Group, M&G Prudential)

  • Inman, Lawrence

    (Global Relationship Manager, Aviva Investors, St Helen’s, 1 Undershaft, London EC3P 3DQ, UK)

  • Mitchell, Ryan

    (Head of Third Party Management, Operational Change and Project, First State Investments)

  • Poldaas, Sara

    (Head of Investment Operations, Mawer Investment Management Ltd, 600, 517 — 10th Avenue SW, Calgary, Alberta, Canada)

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.

Suggested Citation

  • Stephenson, Andy & Bakpessi, Kudjoou & Inman, Lawrence & Mitchell, Ryan & Poldaas, Sara, 2019. "Do vendors’ service models maximise value for clients?," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 11(4), pages 317-326, September.
    • Handle: RePEc:aza:jsoc00:y:2019:v:11:i:4:p:317-326
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    More about this item

    Keywords

    Global Custody Forum; service providers asset managers; asset owners; vendors; client satisfaction surveys;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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