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Feature Articles 2005
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"Custody Solutions: A Collaborative Approach"
Sam Sparhawk, senior vice president and head of the custody and securities lending businesses, PFPC Trust Company
Gary Metz, vice president and director, PFPC Trust Company, and product manager for custody and securities lending operations, PFPC
The Institutional Investor Guide to Custody and Asset Servicing
February 2005
The growth of outsourcing beyond the back office is well established. Asset managers increasingly understand the value of a partner in automating such “middle office” tasks as trade flow and reconciliation, or providing services like performance measurement and compliance assistance. Custodians are particularly well positioned as outsourcing partners since they already hold the securities and manage a high volume of transactions. In addition to the traditional role, the scope of custody can be expanded to include messaging, portfolio analysis, and functions that incorporate elements of fund accounting and administration. This article explains that, to find the appropriate mix of outsourced and in-house operations for asset managers, service providers must take a collaborative approach and employ the asset manager’s business model as a blueprint to create a solution to fit a specific need. Please note that reprints of this article are not available.
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"Game On"
Stephen M. Wynne, president, PFPC Worldwide Inc.
NICSA Annual Review, a special supplement from International Custody & Fund Administration (ICFA) magazine and NICSA
February 2005
Within the highly competitive financial services industry, the struggles facing asset management companies to control costs, eliminate redundancy and manage fees have taken center stage. For many years, the idea of outsourcing has rushed in from the wings, but its share of screen time was limited to a supporting role. Now, as outsourcing is increasingly utilized to improve the bottom line and the outsourcing of middle office functions is becoming reality, two of the industry’s leading players—custody and fund accounting providers—find themselves often cast as co-stars. Consequently, a more advanced—and more complete—solution is necessary. Mr. Wynne outlines how by employing the latest advances in technology, an experienced full-service provider can bundle existing stand-alone solutions with additional technology resources to create a holistic straight-through solution that could be the next big blockbusters. Please note that reprints of this article are not available.
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