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SUCCESS STORY: INVESTMENT MANAGEMENT, CLIENT MANAGEMENT,
SECURITIES AND TRUST OPERATIONS
CLIENT:
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Major US-Based Money Center Bank |
DIVISION:
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Global Asset Management and Private Bank |
CONTACT:
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Executive Vice President
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SITUATION
A newly merged global bank needed to integrate all private
banking operations -- including trust, investment services and
client management -- of what had been two very different
institutions, with unique infrastructures and cultures.
Additionally, the client wanted to maximize operational synergies
and reduce expenses by $70 million.
LOBUE RECOMMENDATIONS
Investments
- Increase portfolio manager account loading
- Develop relationship/product profitability model
- Consolidate trading and incorporate fixed income brokerage
- Rationalize investment advisory allocation
- Develop investment management system
- Install MIS process
General Services
- Reengineer domestic securities, international securities,
cash processing, client services and credit control & support
Client Management
- Redesign organization and reengineer all activities
identifying inefficiencies, redundancies and positioning
- Increase relationship management capacity within department
by realignment of non-sales activities
Trust & Fiduciary Services
- Implement specific process improvements, system
enhancements, work design and a Management Process
- Remove administrative tasks from Trust Officers - transfer
to Trust Assistants and Fiduciary Assistants
- Standardize work processes across department to
institutionalize product
- Move support work from Trust Department to Operations area
- Install Management Information System
Support Operations
- Identify redundant activities performed within the Private
Bank for consolidation
- Develop unique processes for each activity utilizing "best
practices"
- Create organizational design which focuses on productivity,
efficiency and service excellence
REAL RESULTS
All private banking processes and operations were redesigned and
a new management system was established, integrating the merged
organizations' best practices while achieving cost savings in
excess of $80 million per annum.
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