Cooper Wood & Associates, an independent consultancy specialising in asset servicing, has hired Mark Friend, the former COO of Premier Asset Management.
In his new role, Friend will work as an independent senior associate of the recently launched UK consultancy partnership.
Cooper Wood & Associates was launched in June this year by industry experts Rod Cooper and Tim Wood with the aim of bringing the first-hand experience to assist both buy- and sell-side firms manage their costs, revenues and efficiencies.
Commenting on the new appointment, Cooper said: “We are delighted to be able to offer Mark Friend’s vast expertise to our clients. Having the opportunity to engage with a former fund management COO, allows custodians and administrators to benefit from his direct experience on regulatory, business, and buying behaviour imperatives from their target market.”
Wood added: “For asset owners and managers seeking to minimise their own expenses and those of their asset servicing providers, Friend’s knowledge and track record enables us to strengthen our proposition for our clients to drive greater value and optimise the relationship with their service providers.”
Meanwhile, Friend said: “I am pleased to be able to join Rod Cooper and Tim Wood and to complement the experience of the Cooper Wood team. Having worked in this industry for many years, I have seen how firms can become uncompetitive and leak investment performance if they don’t understand the opaque costs that surround asset servicing.”
“The controlling of costs is particularly relevant and important in light of the Financial Conduct Authority’s focus on value assessment, and whilst firms themselves are having to come to terms with the new requirements in relation to operational resilience, and capital adequacy.”
To read more about the new consultancy, click here.
