M&A deals are thriving globally in the asset and wealth management space. Whether billion-dollar mega deals or smaller-scale consolidations, M&A activity remains strong. PwC forecasts 2021 deal volume will outpace last year’s.
A key outcome for an organization post-merger or acquisition is that it allows the firm to simplify the number of suppliers it does business with. This in turn allows the firm to build stronger, deeper relationships and more robust, strategic partnerships with its remaining providers. Simplifying the number of providers can also allow for a more coherent, smoother client experience by creating a common framework across jurisdictions. Not surprisingly, a provider with global reach and local expertise can be highly sought after by asset and wealth managers, especially when their firm is undergoing a merger or acquisition.
These were some of the observations revealed during our fireside chat with COOs within the asset management industry. In our "The operational landscape through the lens of the COO" blog, COOs shared their perspectives on the world of asset management since 2020 and the changing role of operations. In this installment, the COOs explore supplier selection, management and engagement in an M&A environment. Questions discussed include how suppliers fit into their organization and the supplier blueprint following a merger or acquisition.
The COOs also examine priorities for 2021 and 2022. What are their priorities both personally and professionally? Dive into “COO Priorities for 2021 and 2022” to find out.