Operational Leaders

Alan Meaney stands at the forefront of the fintech movement that's changing the operational side of investment management firms. He serves as the CEO and was co-founder of Fund Recs, a company originally built to automate the trade and transactions reconciliation process. Now Fund Recs is venturing out to help firms automate their internal process.

In this episode, Alan talks about the fund reconciliation problem he and his co-founder saw when they started Fund Recs in 2013. He discusses the challenges in trying to develop industry-wide standards for the creation and transmission of data, and how that created opportunities for Fund Recs. Alan also describes a key early decision to rely on the Cloud rather than local solutions. He then turns to talk about new initiatives to help the buy-side and weighs in on the promise of future no-code solutions for simplifying the automation of all sorts of processes.

To learn more about Alan and Fund Recs, please visit the company website.

Thanks also to our sponsor, DiligenceVault, creators of the first two-sided digital ecosystem for asset managers and allocators.

Gary Berger has spent over 30 years providing audit services and business advice to the private fund industry. Along the way, he became a trusted advisor to existing managers and a "first call" for start-up managers seeking a range of advice from organization structures to economic and tax issues.

In this episode, Gary discusses how he got started in the accounting profession, his early days auditing hedge funds and some of the key changes to both the private fund industry and the auditing business. He also talks about his recent decision to join CohnReznick, and what it's like to change firms. In addition, Gary provides some common-sense advice for aspiring new managers and wraps up with a few thoughts about the future of the private fund industry.

To learn more about Gary's practice, CohnReznick, and the firm's resources for the private fund managers, please visit the CohnReznick website.

Thanks also to our podcast sponsor, DiligenceVault, creators of the first two-sided digital ecosystem for asset managers and allocators.

Dan Nathan was a trader in the hedge fund business before pivoting his career to become a business advisor and market commentator, including his noted position as a regular panelist on CNBC's Fast Money. He returns to the Operational Leaders podcast this week for the second part of a special two-part bonus episode.

In part 2, Dan flips the script on host Terrance O'Malley and gets Terrance to open up and share some of his experiences and thoughts on the investment management business. Along the way they discuss the current launch environment and barriers to entry for private fund managers, the impact of technology, the importance of culture and some of the latest trends impacting the investment management business.

You can learn more about Dan, his business and his new podcast, On The Tape, by checking out his RiskReversal website.

Before RiskReversal.com and RiskReversal Advisors, before the regular panelist role on CNBC's Fast Money, Dan Nathan was a trader in the hedge fund business. He joins the Operational Leaders podcast for a special two-part bonus episode. Dan and host Terrance O'Malley swap personal stories about their experience in the asset management business and share insights into the private fund sector.

In Part 1, Dan describes his early days as a hedge fund trader, and how he later pivoted to the next phase of his career as a business advisor and market commentator. Dan also shares a behind-the-scenes look at his time on Fast Money, as well as his current perspective on the private fund business. In addition, Dan talks about his new podcast, On The Tape, that goes in-depth on the most important financial stories of the week.

You can learn more about Dan, RiskReversal and On The Tape by checking out his RiskReversal website.

After the election comes the governing. Few have been as innovative and successful as Martin O'Malley who served as the mayor of Baltimore and two terms as governor of the great state of Maryland. Many of the lessons he learned – chronicled in his new book, Smarter Government: How to Govern for Results in the Information Age – apply equally to running a smarter business.

Governor O'Malley explains how he became an early adopter of technology and data-driven systems of performance management. He talks about how this approach brought greater efficiency, transparency and accountability.

Governor O'Malley also gives his thoughts on leadership, change management, the benefits and limitations of technology and many more topics. Along the way, he describes some of his current endeavors including teaching, charitable work, and serving as Senior Adviser on Smarter Governance at the top consulting firm of Grant Thornton.

To learn more about Governor O'Malley and his book, Smarter Government, please visit the book's dedicated website.

Thanks for listening to Season Two of the Operational Leaders podcast!

To wrap up the season on a lighter note, we put together a brief episode featuring outtakes and bloopers. Enjoy.

And please check out our season finale on Wednesday, January 6th. We'll be joined by a very special guest who will discuss data driven systems of performance management, change integration and leadership.

We'll see you again a few weeks later for the start of Season Three.

In the meantime, you can find all of the Operational Leaders episodes at the podcast website.

For almost twenty years, Nida Panchee worked in-house for private equity firms on both the investment and the operations sides. Then she decided to take a step back. But she soon found herself with growing list of projects and clients. From that beginning, she founded Panchee Advisory, an up-and-coming outsourcing firm.

In this episode, Nida discusses her professional experience and how she has grown Panchee Advisory. She also shares insights on where the demand for outsourced services is coming. In addition, she describes a growing trend to outsource even the "Chief of Staff" position tasked with coordinating all other service providers. Finally, Nida reveals one of the surprising places where she finds experienced professionals to join her consulting firm.

To learn more about Nida Panchee and Panchee Advisory, please visit the firm's website.

Perhaps no area in the investment management business evolves as quickly, constantly or significantly as information technology. Yohan Kim and his team at RFA are among the industry's leaders in responding to these changes and providing clients with tailored IT solutions.

Yohan currently serves as President and CEO of RFA. He joins the podcast to talk about how the IT business has evolved over the past decade or more, including some of the major themes. In particular, he highlights the use of data, both as an investment research tool and as a means for the efficient operation of asset management firms. He explains how IT facilitates the ability to gather, filter and best utilize data. Yohan also shares some thoughts on business-practice changes brought on by COVID and why some are likely to become part of the permanent business landscape.

To learn more about Yohan and RFA, please visit the firm's website.

Ingrid Pierce is one of the world's top fund attorneys. She serves as the Global Managing Partner at Walkers and heads the firm's Cayman Investment Funds Group.

In this episode, Ingrid answers the fundamental question, why Cayman? She explains the reasons behind the use of offshore fund vehicles and how Cayman – with its well establish set of regulations, stability and cadre of resident experts – has become the jurisdiction of choice for offshore fund formation. Ingrid also discusses the importance of Cayman maintaining regulations that meet international standards while also taking into consideration commercial expectations of the business community. Along the way, she adds some business insights and advice.

Ingrid concludes the discussion by mentioning a favorite charity, Help for Children. This international organization focuses on the prevention and treatment of child abuse.

To learn more about Ingrid and Walkers, please visit the firm's website.

To learn more about Help for Children, please visit the charity's website.

Bill Salus has spent the past 30 years in the fund administration business, and previously served as Global Chief Executive Officer for Apex Fund Services. He is now the CEO and Founder of Paddock Consultancy, a firm that advises asset, fund, and investment servicing firms on engagements across the investment management ecosystem.

In this episode, Bill adds his unique and independent perspective on the state of the fund administration business. He explains how fund accounting remains at the heart of the business, but that it is transforming to more of a data-oriented business. In addition, he sees fund administration firms playing a bigger role in providing a broader range of outsourced expertise and services.

Bill also explains how administrators distinguish themselves from one another in a global industry with nearly 700 firms. He emphasizes that the ability to attract and retain customers is based not just on technical ability to service clients but also trust and relationships.

Finally, Bill discusses some of the current acquisition activity in the administration space, what is driving it, and what it might mean for managers.

To learn more about Bill and Paddock Consultancy, please visit the firm's website.