The client (A custodian bank providing asset servicing solutions with AUC/AUA USD$34.5 T) was appointed by the largest insurer in Singapore to provide consolidated custodian services, fund accounting, compliance and performance services. While onboarding the insurer, the client faced multiple issues around project management, timely delivery, and stakeholder controls. Both parties were relatively inexperienced in such large-scale custodian changes. The onboarding project was marred by criticism, huge delays, and was not moving to the subsequent phase.
Mid-way through the onboarding, the client appointed us to help manage the onboarding in a structured approach and get it back on track.