The Securities Services Advisory Group off to a flying start

18 March 2021 Consultancy.eu 4 min. read

Half a year since launching, The Security Services Advisory Group (TSSAG) has amassed membership from firms in Europe – the UK, France, Cyprus and Romania – and way beyond.

Once a private or institutional investor orders a stock, bond or any financial security: everything – from processing the investment, to liquidating the purchase, to depositing the dividends in customer accounts and more – falls under the mandate of ‘securities services’. 

Seldom talked about in mainstream media, this industry is valued at more than $100 trillion, and houses infinite experts in finance, technology, investment, recruitment and analytics – to name a few. Launched in the UK in August 2020, TSSAG aims to bring all these experts together in a collaborative global association, and has lived up to its promise so far.

The Securities Services Advisory Group off to a flying start

Founding member firms of the association were: Adapa Advisory from the UK and South Africa; Hornby Chapman and PDH Consult from the UK; Soterium and The Value Exchange from Canada; Alfasec Advisors from Singapore; Pivot Consulting from India; Pivot Consultants from Cyprus; and Araliya Management Consulting from Romania.

And the list has since expanded significantly – both in size and geographical scope. Shortly after launching, TSSAG added Brazil-based investment management consultancy NEO Consulting and French financial advisory firm hd financial consulting to its ranks in September last year. At the time, TSSAG chairman Mark Kerns noted that “their specific areas of expertise in terms of product and geography are highly complementary to the founding members of TSSAG.” 

2021 has been particularly eventful for the association. In January, TSSAG welcomed Lawrence Au – an independent financial consultant based in Hong Kong, who has previously been the head of Asia Pacific (APAC) for BNP Securities Services and the General Manager APAC for Northern Trust.

“I have known Lawrence for many years and am delighted that he has chosen to join our organisation. He brings a wealth of knowledge of securities services industry both in APAC and further afield and an excellent network of relevant contacts,” said fellow TSSAG chairman Viraj Kulkarni.

South African boutique management consultancy Solve Business Consulting also joined in January this year. The firm’s financial advisory services are targeted at wealth and investment managers, retirement fund administrators and insurance companies, among others. Kerns lauded the firm’s “long and successful track record in large operational and strategic initiatives for financial services firms in South Africa and across the continent.”

In February, TSSAG secured member status for London-based Myriad Group Technologies – a technology platform that supports global banks and brokers with solutions in network management, vendor governance, due diligence, client onboarding and lifecycle management, among others. Kerns highlighted the firm’s value, adding that TSSAG “look forward to Myriad’s attendance at relevant forums and contributions to thought leadership.”

Charging on 

This is the progress so far, and TSSAG plans to charge on. “TSSAG aims to be the ‘go-to-body’ of deeply experienced Securities Services experts who share a common goal: bringing value to its members, clients and the industry,” said Kulkarni.

At a time when financial services has emerged as a pillar of economic recovery, a robust and innovative securities services ecosystem is more imperative than ever. Many investors have been and will be looking to buy the dip, while pensions, insurance, administration, and corporate finance have all emerged as central themes in the post-pandemic economy

For Kulkarni, TSSAG is well positioned to support this flurry of transformative activity. “Unconstrained by geographic boundaries, by combining multiple core service areas and differentiating attributes, TSSAG Members will help create synergies, best practices and alliances for the benefit of the Securities Services industry and their clients.”