Impact & Expertise

Cost Efficiency & Asset Optimization Impact Stories

Cost Reduction, Transformation for an Asset Manager

Find out how BCG transformed a major asset manager while rapidly reducing operating expenses by 20 percent.

Asset Manager is a global firm providing asset-management and ancillary services to retail and institutional investors in all major markets—United States, Canada, United Kingdom, Continental Europe, Japan, and Australia. Its clients are independent financial advisors, corporations, pension plans, retail banks, and insurance companies.

In the current economic crisis, the client's assets under management are down 30-40 percent.  Additionally, investors are withdrawing money from traditional funds and moving into less risky, lower-priced funds, further depressing top-line revenue. Asset Manager has a decentralized, geographically oriented operating model and organizational structure built up from years of undisciplined growth.

The overall project goal was to reduce operating expenses by 20 percent and head count by 25 percent.  To achieve a cost reduction of this magnitude, BCG needed to transform the operating model to build scale—centralizing operations, technology, and support staff functions globally. Additionally, the project would explore exiting underperforming markets and businesses.

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