Here are some key quotes from my latest podcast with Des Johnson, CEO of Centaur Fund Services USA.
• “Where it went wrong in some cases for large bank-owned admins is they started to push everything to low cost locations and you try to functionalize the business or over functionalize it.”
• “I think where the shadow [accounting] came from is that a lot of managers still had the technology themselves in-house . . . and its very uncomfortable for a manager to unplug that technology and say, ‘Yea, I’m good.’ I’m not sure how well they’d sleep that night.
• “I think you are always trying to innovate. How we adapt, how we change will really dictate how successful we are in the next ten years.”
• “The 80 percent of the business that can be automated should be. And the 20 percent that’s really difficult, lets let our staff focus on that so they are really challenged every day.”
• “The last thing, and I think it doesn’t come up enough, is a diverse workforce. . . . We’ve actually learned over the years that having a diverse workforce and mix of backgrounds has made us more successful.”