Industry expects major changes

Global Administration Round Table: Confronting a challenging environment

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John McCann at Trinity expects further significant changes in the relationship between administrators and custodians. “Many investment and traditional banks have ventured into fund administration, thereby increasing the number of contact points that they have with a client outside of the areas of banking, trading and prime broking,” points out McCann. Generally these units will be ring-fenced into separate companies or departments with Chinese walls.

“The interests of the ultimate shareholders ca