Capco, a global technology and management consultancy dedicated to the financial services industry, has announced the launch of a new Prime Brokerage Consulting offering.
Prime Brokerage Consulting will support prime brokers as they navigate ongoing regulatory change, implement their data and digital transformation agendas, and undertake internal projects including vendor selection and target operating model projects.
Anthony Bennett has joined Capco’s Capital Markets practice and UK leadership team as an Executive Director to lead the new initiative.
Formerly Global Head of Prime at KPMG Consulting, Anthony brings 20 years’ experience building and managing prime brokerage platforms at leading global banks, including Goldman Sachs, Morgan Stanley, HSBC and Société Générale Corporate & Investment Banking, where he was Managing Director, heading up prime brokerage, clearing and commodities client services globally.
Mike Ethelston, UK Managing Partner at Capco, says: “In many respects prime brokerage represents a microcosm of the key challenges facing the wider banking industry, notably the impact of regulatory change and compliance, the evolution of operating models, and the need to reengineer internal capabilities and external around data and technology. Our new offering represents a natural extension of our existing capabilities and allows us to offer a greater degree of scale and technological prowess than is currently on offer in this space.”
Bennett says: “Hedge fund clients of investment banks are sophisticated and hence very focused on innovation in respect of data, the cloud and APIs, and prime brokers are accordingly looking hard at enhancing client experiences and what prime as a platform, and the future of Prime as a Service, really means. When you combine this with the ongoing regulatory and change agenda at the banks, there is a tremendous opportunity to service this demand. Capco is ideally placed to meet those needs and provide the technical expertise and domain knowledge that banks are looking for.”
