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Capco forms North American wealth and investment management group


Capco, a provider of consulting and managed services to the financial services industry, is launching a dedicated North American wealth and investment management group.

The firm says there is strong demand from wealth managers, investment institutions and investor services firms that are seeking to increase profitability and market share despite ongoing volatility in the financial markets and investor community.

Capco partner Edward Hawthorne is leading the group.

The group provides management and technology consulting services across three primary lines of client business: wealth management, which serves private banking, financial advisory and retirement services, and retail brokerage firms; investment management, including services to institutional money managers, pension investors, endowments and foundations, hedge funds, and complex boutique investment managers; and investor services, which serves fund administrators, fund accountants, transfer agents and record keepers, and custodian banks.
The group also provides clients with consulting services and solutions in change management; open architecture product strategy; operating model design; clearing platform technology evaluation; ETF processing; and merger integration.

Following an average 14 per cent CAGR from 2002 to 2007, total assets managed by North America’s leading institutions in 2008 decreased 23 per cent from 2007, according to the Capco North American wealth and investment group. This sharp decline, coupled with client demands for expanded product and service capabilities, is driving leaders within the sector to update their operating models and rethink how information is used to manage investments, control risks, and increase transparency.

"Given the sustained challenges the market is facing, we expect that pressure on margins will remain and this presents significant challenges to the profit outlook for investment managers," says Hawthorne. "Reduced margins have been driven in part by declines in asset values from their 2007 peak, redemptions, and redistribution of mandates. In response, businesses are turning to Capco for advice on strategies to achieve their profitability goals by optimizing their product and service capabilities and increasing the efficiency and scalability of their operating platforms. Capco is well suited to address these demands."

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