Published on March 5, 2013 by Guest Blogger
Four years back, on a trip to New York to meet prospects and clients, I had a rare meeting with someone with the title “COO – Research”. Most of my meetings till then would be with Heads of Research on the sell-side and CIOs or senior portfolio managers on the buy-side. I therefore hoped for a pleasant surprise in my meeting with this COO.Unfortunately, the senior gentleman told me and my colleagues politely that his was a new role, and he had very limited powers. “Don’t go by my title,” he explicitly informed us.
Jump forward a couple of years, and how things have changed! Over the last 18-24 months, six firms have used the COO’s office to work with our team to significantly alter the brokerage and investment banking cost-output ratios. The analyst teams remain in charge of their products (as they indeed should be), but the COO team (Global COO, Vertical COOs, Regional COOs) plays a significant role in delivering cost efficiencies.
This change seems to have come about without any significant disruption in most cases, although one can argue that the market provided disruptive conditions for change to be effected. In all these engagements, COOs have been able to provide a structure and the required focus to ensure implementation of plans. Combined with our increasing ability and sophistication in ensuring onshore adoption, our clients and us have been able to move from concept to execution to results much quicker than before. Absent that (as used to be the case in the previous era), our clients and us would be inching rather slowly past various obstacles.
For those looking for a structured read on this subject, the following survey by Investance is worth giving a look.
What's your view?
Thank you for sharing your Comments
About the Author
Part 2: Why VOC programmes are a must....
Unlocking organisational success with the Voice of the Customer programme (an 8-part serie....Read More
Part 1: What is “Voice of the Customer” all ....
Unlocking organisational success with the Voice of the Customer programme This is part 1 ....Read More
The power of online research amid the COVID-19 p....
The coronavirus outbreak is, without question, an unprecedented crisis, with economists su....Read More
Brokerage Research: Economic challenges and t
Revenue and cost pressures have been strangling traditional brokerage houses since the las....Read More
Sustaining idea generation initiatives beyond
Five months ago, we embarked on an exciting journey of driving bottom-up thinking at the f....Read More
Right man for the right job – Resource allo
Finding the right analyst for the right job is never easy… We are a firm full of bright....Read More
Like the way we think?
Next time we post something new, we'll send it to your inbox