For most industries, operations have irrevocably changed because of the COVID-19 pandemic. The asset management industry is no different. Deeply held norms, such as how, when and where work is performed were shattered. What it means to deliver excellent service and drive change took on new meaning and fortitude. The pandemic also reinforced the importance of an effective COO function. Without one, a firm didn’t function.
These were some of the takeaways from our fireside chat with three COOs from the asset management industry. We recently met with Graham Foggin, Head of Operations at Janus Henderson; Cat Read, COO, Royal London Asset Management, and Mike Tumilty, Global Chief Operating Officer, Standard Life Aberdeen. They shared their perspectives on the asset management industry—challenges, opportunities and the changing role of the COO. The first half of our conversation centered on the world of asset management since March 2020 and how they see the role of operations in their firms post-pandemic.
One of the biggest changes to come out of the pandemic for the COOs and their firms is the increasingly strategic role operations have within their organizations. The need for efficient and effective operations still remains a focus for their firms; however, their firms also look to operations to inform future business strategies and create capabilities that drive future growth.
To hear more perspectives from the COOs, we invite you to listen to the fireside chat. The first installment in the series explores the world of asset management since March 2020. The conversation then shifts to the changing role of operations – what are the opportunities and threats?