Aiding a Global Asset Manager to review their best execution operating model to identify ‘gaps’ to current regulations, forthcoming MiFID II requirements, and industry best practice
The client was launching a complex program to consolidate the structures of their funds across-borders within Europe, under UCITS IV. No other asset manager in France had yet conducted this exercise.
Simultaneously they were outsourcing their custody, transfer agency and fund accounting to a third party administrator based in France and Luxembourg, plus a major reduction in staff numbers was also planned to drive further efficiencies.
- Alpha mobilised a cross-border team based in 2 locations to support the program
- We undertook rigorous planning, with timelines for regulatory approval of cross-border mergers under UCITS IV
- Joint teams were mobilised with the third party administrator to ensure the success of the outsourcing work stream
- We tracked the benefits delivered by the business case, and staff reductions, on a monthly basis
The first cross border mergers in France under UCITS IV were successful executed, and the benefits predicted by the business case were fully realised.
Outsourcing of operational functions, including staff lift out, was fully executed on time, and the whole program was executed in line with the pre-agreed budget.
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