Client Situation:
- Global Investment Bank was focused on building out a comprehensive wealth management platform to target their growing client base with the goal of:
- Enabling self-clearing and custody capabilities to address rapid growth, need for greater flexibility and more efficient processing to deliver superior client services.
- Aligning potential self-clearing operating model with overall strategic initiatives.
Approach:
- CMA resources documented and evaluated potential approaches to grow the Private Bank’s operating model to perform self-clearing capabilities.
- Defined a target functional segmentation and interaction model between various vendors and PB, documented key interfaces, and performed a gap analysis to identify key design requirements.
- Analyzed current vendor capabilities and identified potential vendors as well as an internal solution leveraging the Investment Bank and Prime Services functionality.
- In a subsequent phase, coordinated and facilitated the completion of the internal RFP response from PS and IB.
- Assisted with due diligence and final evaluation and recommendation of vendor evaluation.
Key Benefits:
- The project enabled the client to understand their business and technical requirements, evaluating existing and potential – internal and external – vendor solutions, develop the supporting business case and engage with the chosen vendor to mobilize the program.
