26 Nov 2010, Custody Risk, Risk magazine
The group’s strengths have proven to be its client relationship model, its technical expertise and its global reach.
The group has attributed its success to three main factors, starting with a flexible service model with the expertise to administer complex structures – such as onshore and offshore hedge funds and fund of hedge funds. Secondly, it has a global model, but with a local service – it operates in 16 markets around the world, which gives it strength in fund administration and distribution support while retaining local knowledge. Finally, it works hard to maintain a consistently high client-service experience. It has internal quality standards processes, it conducts client consultation surveys and it aims to be responsive to client needs and requests at all times.
This year, the group has expanded its investment analytics to ensure consistency across all regions. It has launched a Ucits risk-reporting solution and a new range of reports for pension clients. RBC Dexia has also brought in a new internal query-tracking tool to manage client requests more effectively. In a climate where clients are increasingly averse to risk, the group has also brought in a new collateral system to mitigate risk.
RBC Dexia has adopted a number of quality control initiatives, including reviews of service quality for cross-border clients and performance fee standards. The group also won Lean Six Sigma Green Belt certification for its process improvement team, which increased automation, standardisation and introduced best practices.
RBC Dexia has been working on a fully integrated custody solution – the development work is now complete and the testing phase has begun. The group plans to start transitioning clients in the second half of 2011. It is also building its multi-currency accounting capability, plus new functionality for its online portal. The group’s new global derivatives platform is set to go live for some clients by the end of this year.
Ultimately, it has been this commitment to improvement that led the judges to award the group with European Client Relationship Manager of the Year.
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