Fixed Income Research for a Japanese Investment Bank

  • $3m

    in savings since inception

  • 50%

    time savings

  • $1m

    annualized cost savings

  • 20%

    coverage expansion


CLIENT CHALLENGES
  • The client, a bulge-bracket Japanese investment bank, wanted to offshore credit research support for its corporate bond trading desk in the high yield and distressed space. Its requirements included
    • Building credit models on the issuers of bonds
    • Monitoring the coverage universe through regular model updates and major news/events analysis
    • Undertaking relative valuation analysis for the existing portfolio of bonds
    • Preparing credit reports and write-ups on various companies and sectors
OUR APPROACH
  • Kicked-off as a single-member engagement to update modelsand summarize earnings calls
  • Worked closely with client analysts to understand their idiosyncrasies and created a more standardized template for both models and earnings calls to gain efficiencies
  • Identified additional areas of support, including updates to the quarterly handbook and preparation of organizational structures
  • Deployed supervisory overlay to ensure accuracy and timeliness of deliverables
  • Provided periodical supervisory governance to ensure timely feedback was sourced and incorporated in deliverables
IMPACT DELIVERED
  • Grew the engagement, which began with only one analyst, to a five-member team
  • Provided support on European (Developed Markets), European (Emerging Markets), and US markets coverage
  • Supported the client on timesensitive ad hoc research and analytical tasks
  • Standardized tasks, helping the client save an additional 10% of total time spent
  • Freed up bandwidth, enabling client analysts to spend more time with companies’ management and investors, and to generate ideas
  • Saved over $1m annually for the client
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What we have done

Fixed Income Research for a US Based Investment Bank
What we are proud of

>50%

savings in staffing costs

25%

increase in outreach

Fixed Income Research Support for a Europe Based Asset Manager
What we are proud of

>50%

savings in staffing costs

25%

increase in outreach