Broadridge Financial Solutions, Inc. (NYSE:BR), a provider of investor communications and technology solutions, today announced that it has added several professionals with extensive experience in data management software to the company in a move to enhance its Managed Data Service offering. The news follows the company’s announcement of a new strategic alliance with LiquidX.
Broadridge’s Managed Data Service combines technology and human capital in a flexible delivery model which is aimed at helping firms significantly improve enterprise reference data quality while decreasing the technological and operational cost of ownership on a single, customizable, multi-tenant platform. The offering enables companies to leverage significant scale and cost efficiencies in order to gain competitive differentiation.
Robert Revesz has been appointed Senior Director having spent 15 years at Asset Control, most recently as Vice President, services director, Americas. He is joined by Nathan Wolaver, Michael Sunwoo and Tim Versteeg, all of whom have also recently joined the company from Asset Control and who are tasked with strengthening the Managed Data Service solution.
Bennett Egeth, president of Broadridge Investment Management, Reference Data and Risk Solutions explained: “Banks have started to better understand the expense of data infrastructure and the cost of poor data quality across the enterprise, which makes the economics of a managed data service quite compelling.”
“Broadridge has the technology solutions and Managed Service experience to help firms drive down cost, deliver enhanced service levels and demonstrate significant improvements in data quality,” he elaborated.
Charlie Marchesani, president, Global Technology and Operations at Broadridge highlighted: “We’re growing our Managed Data Service team at a critical time for banks, broker-dealers and asset managers as they look to mutualize their reference data capabilities and re-orient to a managed service model. The managed data model provides compelling value to large banks and asset managers based on the opportunity to mutualize capabilities and best practices across firms to bring significant scale and efficiencies.”