Just weeks after moving on from iGate Global Solutions to join SmartStream Technologies as head of transformation services, Tom Dalglish is in Paris, working on a project at Société Générale Corporate & Investment Banking (SG CIB) that will manage and optimise the bank’s back-office securities processing.
The project is led by Accenture Post-Trade Processing (APTP), an Accenture initiative set up last year in partnership with Broadridge Financial Solutions and designed to help banks reduce post-trade processing costs, adapt to changing regulation and get to market quickly. APTP has since partnered SmartStream and is working to deliver the SG CIB transformation project by combining its global business process outsourcing (BPO) capabilities with SmartStream’s post-trade processing and technology services covering reference data, reconciliations, exception management and corporate actions processing.
Dalglish explains: “I am at SG CIB overseeing the SmartStream contribution to the project to ensure we contribute as much as possible. APTP is a perfect partnership for SmartStream as with our 500-plus data experts and Accenture’s Big Six approach to clients and its outsourcing capabilities we can offer a customised solution for post-trade processing and distribute it to many customers around the world. There is a lot of money to be made in streamlining costs after deals are done and our platform supports this well.” Beyond the SG CIB project, Dalglish says there are plenty more clients in the APTP pipeline.
It is these sorts of projects and working with knowledgeable colleagues that attracted Dalglish to SmartStream. He says: “SmartStream is widely known as a solutions provider, it already has a data utility and it gives me the opportunity to work with a driven team of individuals to refine the utility and enhance our presence in the market. The need is to transform bank operations and not replicate legacy systems.”
Dalglish brings experience of data management transformation to SmartStream from previous roles at UBS, Bank of America Merrill Lynch, JP Morgan, Bear Stearns and, most recently, iGate Global Solutions. At iGate, Dalglish designed and deployed a data utility strategy following the company’s July 2013 acquisition of a data management platform comprising 18 systems from UBS.