A week on from the Global Custodian Forum, we are delighted to share with you comments from Simon Hirtenstein, our Asset Servicing Practice Lead.
“Last week, I attended and spoke at the Global Custodian Forum in the salubrious surroundings of Banking Hall. First of all, many thanks to the event organisers and venue staff who put on a fantastic event. The day was full of stimulating discussion covering a whole range of topics including regulatory matters such as MiFID II, the impact of ETF, data management, outsourcing, talent recruitment, amongst several many more.
I was in the panel discussing the role of new technology and how it is more important than ever for asset managers to effectively manage change on an on-going basis. This is not only for commercial advantage, but also to avoid any calamitous ramifications that hurried and ill-prepared technology implementation could potentially lead to. My view is that the industry should adopt a much more stringent attitude to risk. For example, we should consider the 100% non-risk culture of the airline industry. What surprises me is that this same way of thinking is not adopted within the asset management industry when it comes to new technology adoption. It is for this reason that any change initiative needs to be overseen by industry experts who have a proven track record.
It was a pleasure to have the platform to share my thoughts and I very much look forward to the next event.”