The Challenge
During a high-stakes merger procedure, a leading global bank headquartered in Europe required urgent assistance in transitioning a large volume of indices. This merger, initiated as an emergency rescue deal and considered one of the most significant banking unions, highlighted the paramount importance of timely and strategic implementation under intense public scrutiny.
To swiftly navigate and mitigate the merger's impact on revenue, the Head of QIS (Quantitative Investment Solutions) Division and other senior stakeholders sought a partner with a deep understanding of the operational frameworks of both entities involved, as well as the ability to take immediate action.
Our Solution
To effectively support our key stakeholder, the Head of Quant, Evalueserve identified the areas requiring comprehensive support and coverage, along with the skillsets necessary for optimal and timely delivery. These included:
- expertise in index services tailored to the specificity of this use case
- Python programming capabilities
- immediate assistance to quickly transition a large volume of indices on the target platform
- round the clock support to meet the stringent timelines with a dedicated global team
- nuanced understanding of the unique business environments of both banks
Our tailored index solution facilitated effective execution of index development and comprehensive back-testing across a wide range of asset classes. Responding to the urgent requirements, we accelerated the ramp-up process, swiftly scaling our team to meet the time constraints of the merger.
Our approach involved the following strategies:
Strategic Alignment: Given Evalueserve’s established relationships with both banks, we had a thorough understanding of their operational frameworks and requirements. This allowed us to seamlessly align our strategies with the client’s goals.
Unified Approach for Accelerated Team Assembly and Transition Support: In response to the merger’s urgent demands, we executed a swift team assembly strategy, bringing together a skilled team across multiple locations (the US, Chile, UK, India, and China) within strict timelines. To further address challenges of speed and urgency, we strategically integrated a combination of onshore and nearshore analysts.
Comprehensive Index Development & Back-Testing: By leveraging our profound domain expertise and robust technical knowledge, particularly in Python, we provided efficient support while ensuring precision in index development and back-testing.
Evalueserve is leading the transition of thousands of indices on the client’s end platform, in close collaboration with the bank’s index team based in India. Our objective is to assist our key stakeholder, the client’s Head of Quant, in effectively managing this highly technical migration process. Given its complexity, completing this transition could take more than 12 months to be fully executed.
By deploying a dedicated QIS global team that operated round-the-clock, we swiftly initiated the entire transition process, becoming a trusted partner to the bank throughout this critical merger. Our experts span globally across the US, Chile, UK, India, and China, ensuring efficient management of shifts and prioritizing timely issue resolution.
Business Impact
Evalueserve is expanding its dedicated QIS team to provide onshore support and extend coverage to the Asia network by growing the team based out of China. We have been entrusted with a highly demanding project, and our commitment to delivering rapidly and precisely has established us as a trusted partner for the bank throughout this challenging merger.
In addition to our dedication to quality outputs, our pre-established relationships with both firms were crucial. These relationships facilitated strategic alignment, providing us with the necessary business understanding to dive immediately into the project. Furthermore, tapping into our pool of highly skilled resources allowed for a rapid scale-up, effectively meeting the project's demanding timelines.
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24/5 Support
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Strategic Alignment
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Global Team
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Overview & Impact
Evalueserve has established itself as the trusted transition partner for a global bank, leading a highly technical indices transition project integral to a critical merger.
Accelerated team assembly strategy
Round the clock support
- Improved Index Management Process
- Increased Efficiency Through Automations
