June 13, 2018
The challenge
This company is one of the world’s leading providers of alternative investments. It manages a large, diverse product range and significant volumes via an operating platform tailored to the needs of individual clients. To handle the sheer quantity of business, the company outsourced to a multitude of service providers but without a common approach or consistent use of service agreements or governance. In many ways, the company became a victim of its own success. While its specialism had created a position of great strength, it had also introduced considerable complexity. The time had come for the organisation to reassess how it managed processes and service providers.
Our approach
We put in place a dedicated, specialist team that understood both the alternative investments market and the role of outsourcing. Our team focused on two fundamental tasks: the design and implementation of a new operating platform and the identification and selection of strategic service providers. We worked seamlessly with the company’s internal teams to enable the free flow of knowledge and analysis—insights that informed the design of a new operating platform, which incorporated each client’s unique requirements and a wide range of products. The implementation of the new operating platform was managed to minimise disruption and enable the company to maintain service levels. We also conducted rate card analysis and due diligence to identify and shortlist strategic service providers, negotiating commercial and legal terms on behalf of the organisation.
Our impact
A new, standardised operating platform has transformed business for the company. Today, it provides each client with a tailored solution that incorporates industry best practice, while also aligning to the GLG operating model to create a more scalable business model. Our rate card analysis has introduced a highly efficient process for the recruitment of strategic service providers. The company can now choose service providers based on their available product ranges and their relative strengths—benefits that have created economies of scale and mitigated counterparty risk.
