In this excerpt from State Street Alpha’s Voice of the Consultant series Jeremy Hurwitz shares his views on the legacy data management challenges asset and wealth management firms face today.
The global financial services industry has undergone substantial transformation, driven by the advent and adoption of cutting-edge technology. Among these technologies, cloud computing has emerged as a key enabler, providing financial institutions such as asset managers, asset owners, banks, and private wealth firms with many benefits. These include cost savings, scalability, enhanced security, agility, and innovation.
Every 10 to 15 years we see seismic shifts in the FinTech operating platforms, underlying technological components, and skill sets required to ensure operational effectiveness and business continuity.
State Street Alpha kicked off their Voice of the Consultant series by interviewing Jeremy Hurwitz, a Managing Director at Elgin White.
As technology evolves, investment managers must stay ahead of the curve to remain competitive. Last month I wrote about the 10 most profitable outcomes of cloud adoption for investment managers. In this second of four articles, I highlight the challenges that cloud computing presents.
No platform is an island in the complex, multi-vendor world of investment management. All buy-side platforms must interact effectively and continuously to mitigate the risk of business-critical interruptions, keep the lights on, optimize client experience, and maintain competitive advantage.
Understanding the “Why?” of your cloud adoption or migration project is essential. By building a complete and compelling business case, which is outcome-oriented, you are more likely to secure budget approval and internal buy-in.
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Based in Los Angeles, California, Jeremy founded InvestTech Systems Consulting LLC in 1990. As President and Director the Enterprise Data Management and Architecture Practice for more than 25 years he managed over 50 large investment technology, strategy, and implementation projects for many of the largest global investment management firms. Following the acquisition of his firm by Accenture in 2017, Jeremy remained as Managing Director, Asset Management Lead.
Jeremy joined Elgin White in 2022 to lead the firm’s launch into North America. He is recognized throughout the North America asset management community as a thought leader and innovation architect in the design of enterprise data, analytics, and reporting platforms. His deep knowledge, broad buy-side network, and extensive experience deploying business-outcome-focused technology solutions successfully has accelerated the growth of Elgin White in North America.
Stan joined Elgin White in 2020 following an impressive 30-year career working predominantly for world-class buy-side financial services firms in North America and Europe. He is a renowned buy-side technology leader with a reputation for designing and delivering large-scale transformation initiatives at scale and pace. Currently, Stan is especially active leading infrastructure (cloud and managed services) transformation projects.
His most recent roles prior to Elgin White include Chief Information Officer (EMEA) at State Street and various senior positions during his eight-year tenure at Northern Trust Corporation, including Head of IT & EMEA/Global Director of Fund Administration Technology, Global Director of Asset Management Technology, and Director of Trade Execution Technologies. Stan has also held senior Operational and Technology roles at Nuveen Investments and BNY Mellon.
Throughout his career Stan has been a strategic client or partner of every major front-to-back office technology vendor including SimCorp and Charles River Development.
Erik founded Elgin White’s consultancy practice in 2019, which transitioned the firm into a full-service buy-side consultancy and resourcing business. He is an experienced front-to-back business transformation professional and has held several senior management positions during his more than 30-year career in the UK and his native Netherlands, as well as Asia Pacific.
Previous roles include Head of Professional Services at SimCorp, Director at PwC UK, and Managing Director for Wealth & Asset Management Services at Accenture UK & Ireland.
