In the latest installment of our “Meet the Team” series, we talked with Andrea Pfenning, Chief Operating Officer of Broker-Dealer Services, about trends, opportunities and resiliency. An excerpt of our conversation is below.
What are some of the top trends you see in the industry?
The financial service industry is going through a lot of changes and I would focus on three trends that we’re seeing: one is consolidation- not only with the service providers, but with clients that we service – balance sheets are getting smaller, they’re merging. The second would be around technology and just the need for us to be quicker and faster to automate our services. And the third is around regulation. We work very closely with the fed- they have a reverse repo program that’s very, very important to the market, and they’ve announced that they’re going to start slowing that down or reducing that and how they’re going to do that and what the impact is for the market and for our clients is something that we’re looking at very carefully.