Interview with Guillaume Lesage
The ever changing regulatory environment in which Amundi operates requires thorough monitoring. Its organisation combines strong local presence and centralisation, which gives Amundi the ability to continuously adjust its processes, to always provide its clients with high-quality services.
Guillaume Lesage, Head of the Operations, services and technology division
A new and improved operational model
The first stages of the merger were initiated in 2017. How did they progress in 2018?
We completed the successive stages of the merger – progressive switch onto Amundi’s IT systems and pooling teams together – in record time. Exactly a year went by between the first migration, in Germany, in November 2017, and the most recent one, in Austria. IT migrations have been successfully carried out in all countries: the Czech Republic, the UK, Ireland, Singapore and Italy. And as early as July 2018, all teams had been pooled together. In 2019, we still have to migrate our US entities and to merge our Luxembourg-based Sicavs*. This will happen during the first half of the year. All in all, the results are very positive. I should add that implementing these operations also helped enhance team spirit and improve our operational model. We now have a fully international platform, through which we can manage all types of underlying assets.
Amundi Services, which pools together the Group’s services for asset managers and Institutional clients, is also expanding outside of France…
Amundi Services, which pools together all the expertise we have developed on our technical platform, is indeed experiencing growing success. At the end of 2018, Amundi Services had 23 clients, including two major foreign corporations, Goldman Sachs International and Fineco Asset Management. We are clearly gaining traction, in a fastdeveloping sector. Our goal is to further increase our market share, using our offer’s unequalled competitive edge: a fully open architecture, which can easily integrate external tools, and a very large range of tailor-made modular and value-adding services. Amundi Services now also comes as a “pure system” – without the associated services – and will benefit from new technological improvements, especially for its fund-hosting* module. In addition, we now have a fully dedicated multi-disciplinary team which brings together the Group’s best areas of expertise.
What will be the next steps, in 2019?
We have scheduled several strategic projects. In terms of tools, major investments are planned for the Data Management platform, which was built in 2017. We will implement machine learning algorithms – to improve our processes – and focus on collaboration – to improve data quality. To support the Group’s sales development, we will continue to invest in network-oriented tools – such as our advisory module for bank advisors – or in other digital solutions, especially for employee savings schemes. In addition, we will further industrialise our passive management platform, in order to support the development of ETF and passive management strategies. Finally, we will incorporate ESG* criteria in all of our information systems, in order to help the Group reach its overall ESG objectives.
“With our fully international industrial and innovative platform, we can manage all types of underlying assets.” Guillaume Lesage