1-Dec-06 / Q-Review, Autumn 2006
By Mario Orphanou, Business Development Manager, Odyssey
As the impact of MiFID reverberates around Europe, following on the heels of other advancing regulations such as Sarbanes-Oxley, and Basel II, has the time now come to rethink technology strategy within the Global Wealth Management community?
The challenge today’s Chief Operations Officers are facing is how to juggle the need to make compliant ageing legacy systems, cope with globalisation of the Investment management businesses, meet Straight-Through Processing (STP) objectives, and balance that against increasing internal costs and Return on Investment pressures. These issues are further impacted by takeovers and mergers where disparate and non-corporate systems are inherited.
The practical implications of these challenges on the industry are huge, especially with the tight timescales. Taking a simplistic view to a complex problem, what is at the heart of each of these issues is the management of increasing amounts of data. If one can manage the data effectively one can manage the problem...
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