In the past few years, a series of converging trends have combined to place hedge funds, separately managed accounts and private banks under greater pressure than ever before. First, firms whose clients include high- and ultra-high-net-worth individuals face a never-ending battle to hold innovative, well-financed competitors at bay. At the same time, internal management continually seeks techniques to boost the productivity of relationship managers while struggling to implement sophisticated, faster trading and processing systems.
Increasingly demanding clients expect personalized service, enhanced risk management, near-instantaneous trade execution, and more transparency than ever before. Finally, the recent series of global economic crises guarantees that all financial institutions will be subject to more regulations and scrutiny than they have for decades.