Broadridge Launches Service to Address European SFTR Regulation

Securities Financing Transactions RegulationSecurities Financing Transactions Regulation (SFTR), effective in Q2 2020, is part of the European Union’s implementation of the global effort to regulate shadow banking and increase transparency in the securities finance markets. The SFTR requires firms to solve questions around areas such as data sources, exception management flows (including counterparty interaction), and reporting vendor services.

In order to help companies design their target operating models to be compliant with the impending Securities Financing Transactions Regulation (SFTR), Broadridge Financial Solutions has launched a change management service which provides a practical blueprint for front-to-back changes to overall architecture, organizational structure, business processes, and location strategy.

The company also offers project management, business analysis, and testing support to augment internal project teams and help firms comply with SFTR in a timely manner. Firms within the trading industry need to address the new challenge while avoiding increased costs and operational risks.

Patrick Collins, practice lead for Broadridge Consulting Services in EMEA, commented:

“At Broadridge, we leverage our deep knowledge of the securities finance business, experts who have held senior roles in banks, and lessons learned from EMIR and MIFID trade reporting to help clients solve issues related to SFTR implementation. We can specialize in helping firms cut through the complexity of SFTR, creating a long-term vision for their SFTR operating model that will provide a platform for future expansion.”

Broadridge Hires Head of Business DevelopmentThe firm has also made the news for announcing the appointment of Frederick Duden to the newly created position of Global Head of Product Development to strengthen Broadridge’s focus on creating SaaS-based industry solutions with an initial focus on Wealth management.

Duden, who most recently served as Head of Product for Digital Wealth Management at JPMorgan Chase, will work closely with each business unit, product, and technology team as he will be responsible for Broadridge’s overall product roadmap, as well as product governance and technology integration.

At JPMorgan Chase, Duden was responsible for designing and executing a digital strategy that integrated all aspects of the wealth and asset management business. His career includes various leadership positions at Charles Schwab such as President of the firm’s wealth investment advisory. At Broadridge, he will report directly to Broadridge President and CEO Tim Gokey.

“As macro forces and new technologies continue to drive change across financial services, Fred will further strengthen our ability to design and deliver unique industry solutions that are the on-ramp to next-generation technologies for our clients. Fred has a strong record of building powerful solutions that engage investors and make an impact in the market, and his Wealth and Investment Management background is particularly relevant across many of our businesses and is strongly aligned with our growth strategy”, said CEO Gokey.

Frederick Duden commented: “I was drawn to Broadridge because of the unique opportunity to work for a company with a strong history of developing solutions at scale for clients. I look forward to ensuring that Broadridge remains a Fintech innovator, developing cutting-edge solutions that engage investors and transform our client’s businesses to help them generate growth.”