Custodian and service provider Northern Trust confirms that it will be shrinking its global workforce by approximately 500 positions, which is less than 2.5 percent of its total staff, due to the impacts of the COVID-19 pandemic and ongoing low interest rates. The staff cuts follow Northern Trust Corp.’s report of a third-quarter net income… Read More >>
Innovation Will Thrive in 2021: Greenwich Associates
As we are seeing this week via domestic and international events, it is very difficult to make any predictions for 2021 let alone name the trends for the market structure facilitating securities trading and operations. However, market research firm Greenwich Associates in a new report, “Top Market Structure Trends for 2021,” authored by industry analysts… Read More >>
Keep Hope Alive for 2021
It’s next to impossible to predict what the major trends in securities operations will be in 2021. The industry is still focused on what the new world will be after the fatal COVID-19 pandemic is defeated by vaccines and new behaviors. We may be in a holding pattern for at least the first six months… Read More >>
Did Compliance Pass the Test of Remote Traders?
The pandemic-induced lockdown put compliance systems to the test for many financial services firms because so many employees, including those on the trading floors, were suddenly working from home and more vulnerable to attack. At the same time, the pandemic put on hold cutting-edge, emerging technologies and their usefulness for compliance as firms braced themselves… Read More >>
Multiple Shocks Are Driving Up Op Risks: OCC
The banking system is under stress on multiple fronts. Stress from the pandemic. Stress from a defeated presidential candidate and his coterie of enablers, denying the results of the recent election, fomenting rancor and unrest and deepening the country’s ideological divide, all the while insisting that “we are rounding the turn,” even as coronavirus cases… Read More >>
IT INFRASTRUCTURE IS LIKE AN ENGINE: Q&A
Russell J. Newman, CIPM, director-head of operations and IT at Rothschild & Co Asset Management US, focuses on key aspects of a digital transformation. (Securities firms are forging ahead with their digital transformations despite the pandemic-induced lockdowns, and they are finding that an IT infrastructure is much like an engine, says Russell J. Newman, CIPM,… Read More >>
CRM Systems Are a Necessity Now: Q&A
(In a Q&A with FTF News, Jiro Okochi, president of Tier1 Financial Solutions, argues that remote work environments reinforce the need for technology that helps manage all relationships. Client relationship management (CRM) systems have become a necessity as more financial services firms continue to function by working remotely due to the pandemic-induced office closings. The pandemic… Read More >>
Pandemic Drives Up Costs for Fighting Financial Crime
The pandemic is surging and, partly because of the coronavirus epidemic, so is the cost of monitoring and reporting financial crime. The graphs and spreadsheets that financial services professionals pore over are bringing the disturbing news. And as one veteran observer of the securities industry puts it, Wall Street doesn’t like what it sees. Just… Read More >>
Costume Suggestions for Halloween 2020
To say the least, it’s been a little hard to find and maintain your sense of humor during 2020, a year generally regarded as a living Hell for many and a modern Purgatory for others. No one has escaped its unique horrors. But, for this Halloween, we might turn the tables on fate. We can… Read More >>
CRM Systems Are a Necessity Now: Q&A
(Client relationship management (CRM) systems have become a necessity as more financial services firms continue to function with staff and clients working remotely due to the pandemic-induced office closings. So says Jiro Okochi, president of Tier1 Financial Solutions, whose offerings serve firms in the capital markets and banking arenas. The pandemic conditions underscore the need… Read More >>
