Product Type: Market Research Report
Published by: TowerGroup
Published: March 2005
Product Code: R301-952Description This TowerGroup Research Note looks at the money manager's unsettled business environment as it relates to the managed account world. It assesses how factors in the current environment might influence decisions regarding outsourcing and conversely how outsourcing may change the managed account landscape. Seven providers of outsourced services are profiled: the Bank of New York, the BISYS Group, CitiGroup, JPMorgan, Mellon, PFPC, and State Street. This market is still in its infancy with less than 10% of the total market outsourced, and many of these vendors remain unproven. This Note explores the challenges they face in penetrating the US market.Table of Contents - TowerGroup Take-Aways
- Report Coverage
- Background
- Why a Money Manager Would Outsource
- Exhibit 1: Managed Accounts and Money Managers: An Unsettled Environment Complicates the Outsourcing Decision
- Business Strategy
- Operational Efficiency
- Exhibit 2: US Money Managers' General Attitudes Toward Outsourcing (2002)
- External Environment and State of the Industry
- Establishing the Outsourcing Imperative
- What Do the Outsourcers Offer?
- Exhibit 3: Choices on the Buffet of Outsourcing Services for Managed Accounts (2005)
- Exhibit 4: Workflow of the New Account Process for Managed Accounts (2005)
- Challenges for Outsource Vendors
- Evolution of the Market
- Exhibit 5: Projected US Fees for Money Manager Managed Account Outsourcing (2004-09)
- Exhibit 6: Outsourcing: Cost Reduction Through Technology, Operational Scale, and Cost Sharing (2005)
- Vendors
- Exhibit 7: Outsourcing Vendor Staffing, Accounts, Assets, and Clients (2005)
- The Bank of New York Managed Account Group Within BNY SmartSource
- The BISYS Group, Inc.
- Citigroup Global Transaction Services
- JPMorgan
- Mellon Investment Manager Solutions
- PFPC
- State Street
- Summary
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