Nicsa members received a generous dose of regulatory oversight during a recent Webinar Wednesday panel event moderated by Frank Maresca, Vice President of Broadridge.
“The SEC has been very busy this year, both proposing and enacting rules that impact reporting,” Maresca said. “It is interesting to examine how these rules converge in making information for investors more digestible and impactful, as well as furthering the use of technology to drive engagement and investor insight.”
The panel, which featured experts from Putnam Investments and Ropes & Gray LLP, was designed to help financial services firms worldwide navigate trends dominating the regulatory landscape. Areas of focus included the proposed modernization of fund reports and disclosures, reforms related to closed-end funds and BDC offerings, the status of Rule 30e-3, and disclosure improvements for variable insurance contracts.
Modernizing Fund Reports and Disclosures
“Earlier this month, the SEC unanimously proposed amendments to Form N-1A and certain disclosure and advertising rules that apply to mutual funds and ETFs,” said Chelsea Childs, Associate at Ropes & Gray.
“Those proposals are intended to modernize the disclosure requirements by requiring only key information to be delivered to shareholders. Funds would then refer shareholders to the fund website for other information that the SEC has deemed less important, such as financial statements.”
Under the proposal, a new summary Annual Report (AR) and summary Semi-Annual Report (SAR) would replace the existing AR and SAR.
“This is a very significant change; therefore, it's going to be operationally challenging, requiring a lot of input and parties involved,” said Venice Monagan, Counsel at Putnam Investments. “But we know that the actual implementation is several years out, which makes it more feasible.”
The SEC has outlined structured requirements related to the order in which information is presented and also recommends the use of graphical elements.
“The biggest takeaway here is we are going from a report that could be over 100 pages to something that the FTC is envisioning to be three or four pages,” Monagan said. “This is a very radical change compared with what we now conceive of as a shareholder report.”
Closed-end Fund and BDC Offering Reform
Childs said the SEC also adopted amended rules and forms intended to streamline the registration, communication, and offering processes for closed-end funds and BDCs.
“There’s a lot to unpack in these reforms,” she said. “One main theme is that eligible funds are now allowed to rely on certain practices that previously were only available to operating companies.”
According to Childs, the reforms impact different types of funds in different ways.
“There are differences, of course, between BDCs and closed-end funds,” she said. “There are also differences between types of closed-end funds — whether the reforms relate to how they impact an interval fund or just a traditional listed closed-end fund.”
“Importantly, size matters here,” she continued. “Some provisions of these reforms apply to all registered closed-end funds and BDCs, but importantly, some provisions also apply only to seasoned funds.”
Childs defined a seasoned fund as current in its reporting requirements with at least $75 million in public float, or the aggregate market value of the equity of the fund that is held by people who are not affiliated with the fund.
“This public float concept also comes into play for the top tier, the largest category that we've got here, which are well-known seasoned issuers, or WKSIs. Because the reforms allow for different paths to registration for different fund sizes, it’s important to classify what universe of funds you have and which of these reforms the funds can avail themselves of.”
Disclosure improvements for Variable Insurance Products
In March, the SEC adopted Rule 498-A, which permits the use of a summary prospectus to satisfy Securities Act delivery requirements relating to variable insurance products.
"The Commission is taking this important step to improve Main Street investors' understanding of these products,” SEC Chairman Jay Clayton stated at the time. "With today's technology and the benefits of layered disclosure, investors should not have to work through hundreds of pages of disclosure to understand these products' risks, fees, and features in order to make informed investment decisions.
Childs said that the proposed new Rule 498-B would allow funds to satisfy their prospective delivery requirements under the Securities Act by providing material updates to shareholders throughout the year.
“That’s going to be done primarily through the shareholder reports and through supplements to the prospectus,” she said. “Initial purchases of shares, however, are still going to be required; funds will still have to deliver the full prospectus to an investor who is making an initial purchase, but existing shareholders and additional purchases can receive these more streamlined documents.”
“In order to rely on this proposed rule, similar to the summary prospectus rule, the fund needs to make its summary prospectus, SAI, and reports all accessible online, free of charge, on the fund's website.”
Rule 30e-3
The panelists said that numerous asset managers have gotten up to speed with proposed rule 30e-3, which permits funds to use a notice-and-access approach that they can use to deliver annual and semi-annual reports in lieu of mailing a paper report.
Monagan said Putnam is currently preparing for the January 1, 2021, implementation date, upon which funds can mail a notice of the availability of shareholder reports on the internet.
“We're in the process of developing the content of our notice, which would go to direct shareholders, as well as a postcard, which would inform them of the availability of the shareholder reports and give them the availability to opt-in, request hard copies, et cetera,” she said. “We plan on moving forward with this effort until it is clear whether this new rule proposal will become effective.”
Note: Although the observations contained in this work represent the best thoughts of the individuals comprising the Nicsa panel, they do not necessarily reflect the views of Nicsa or any of its member organizations. Matters addressed in this work may touch upon legal or regulatory matters, however nothing herein is intended to be or should be construed as legal advice. You should contact your own counsel in order to obtain legal advice regarding these or any other matters.
Boston, MA – September 2, 2020 —Nicsa, a global asset management trade association, announced that JPMorgan Chase & Co. Chairman and CEO Jamie Dimon, a financial industry leader and catalyst for innovation, will headline as a closing speaker at its 2020 General Membership Meeting in a Fireside Chat with Jim Fitzpatrick, President & CEO of Nicsa. The virtual event will take place on Friday, October 9 at 2:00pm EST.
Dimon leads one of the largest financial institutions in the U.S., with assets of $3.2 trillion, which serves millions of customers and many of the world’s most prominent corporate, institutional and government clients. Among his many accomplishments, Dimon has led the launch of innovative strategies to address diversity and inclusion challenges, including Advancing Black Pathways and Women on the Move initiatives.
“We are very excited to share Jamie’s leadership vision with the Nicsa membership. At the helm of the world’s largest banking institution, Jamie serves as an inspiration to the industry and we very much look forward to his views on how global asset managers can position themselves in the current landscape,” said Jim Fitzpatrick, President & CEO of Nicsa.
“Nicsa, through its Diversity Project North America, is particularly aligned with, and interested in, Jamie’s innovation and commitment to accelerating diverse leadership across the industry. We are pleased to be able to offer this opportunity to our member firms,” stated Justine Phoenix, who recently assumed the role of Nicsa’s Head of Diversity Project North America.
Nicsa’s GMM agenda will also include a Face the Membership session with industry leaders Jennifer Johnson, President & CEO of Franklin Resources, Inc. (Franklin Templeton), and Mellody Hobson, Co-CEO & President of Ariel Investments, moderated by CNBC’s Tyler Mathisen. A keynote presentation from Soledad O'Brien, host of the weekly political magazine show Matter of Fact is also scheduled. View full agenda of the Nicsa 2020 GMM here.
The virtual GMM will take place October 7-9 and will be available to all employees of corporate registrants. Nicsa will consider complimentary media registration to editors and reporters with valid press credentials. Submit inquiries here.
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
Nicsa aims to help firms operating in all segments of the global asset management industry meet the changing needs of their clients by aligning and educating industry participants through formal education programs, interactive forums, networking opportunities, and initiatives such as the Diversity Project North America. The Diversity Project’s goal is to accelerate progress towards a diverse and inclusive culture in the asset management industry to deliver the best possible results for clients, reflect the society we serve, and ensure long-term business sustainability. Click here for more information on Nicsa’s Diversity Project North America initiative.
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Dismantling systemic racism in the workplace is an effort that will require a fundamental shift in workplace culture and governance. After all, racism and biases rear their persistent and ugly heads in many forms, including fewer job opportunities, lower salaries, and less career advancement.
One of the first steps in healing the wounds of racial injustice is a willingness to engage in open, honest, and sometimes uncomfortable conversations centered on inequalities in the workplace. Nicsa’s Diversity Project North America invited asset management industry participants to engage in such a dialogue during a recent event focusing on authentic allyship. Nicsa and Diversity Project North America members can access the replay here.
Steven Duncan, Senior Relationship Executive at BNY Mellon, moderated the conversation, which featured a range of perspectives on what it’s like to be a Black senior leader, mid-level manager, or newcomer in asset management.
Duncan kicked off the conversation with the definition of racism. Duncan told the audience. “Merriam-Webster is updating the definition to reflect racism’s systemic nature, rather than the beliefs that result from it. With the current definition, one could falsely argue that since they don’t hold that belief, racism doesn’t exist.”
India Gary-Martin, Principal at Leadership for Life, said that racism is a consequence of long-established systems that contribute to racial disparities.
“People will behave in accordance with the containers that are created for them — so if you create containers of racism and systemic oppression, that's how people will behave,” she said. Gary-Martin continued, “... racism is what systems perpetuate, as opposed to the individuals who live within them.”
Maurice Tsuro, Director of BlackRock’s Global Accounting and Product Services team, said he views racism through a multifaceted lens focused on both individuals and systems.
“You have the systems that have been put in place to limit the progression of a particular group of people, but there are also biases ... driven by the environment that one grew up in, and it plays a big part in how people treat each other, and it drives behavior,” said Tsuro.
What It Means to Be Black in the Asset Management Industry
Gary-Martin, a 25-year veteran of financial services, gave listeners insight into her experience as a Black woman in the industry.
“Frankly, navigating the barriers of race is exhausting — and it’s something that we’re actually taught from birth to do,” she said. “That’s why, if you want to create change, you should ask people what they’ve experienced in the workplace and industry – because you can’t solve for something you don’t understand.”
Jason Tyler, Executive Vice President and Chief Financial Officer of Northern Trust, described his experience as both frustrating and exhilarating.
“Our industry is phenomenal,” he said. “You have a profession where you can build wealth for your family. You can test your academic strength versus others. The frustrating part is, it’s still not a fair playing field in terms of how jobs at the upper end are disseminated. There are companies [within the industry] that have absolutely no representation of Black people, women, and Latinos at the top of their management teams — and that's still tolerated.”
To that end, Tyler said prospective employees should be wary of firms that take a marketer’s approach to diversity and inclusion.
“Throw away the brochures organizations use to highlight diversity. Force firms to focus on what matters, which is what the leadership of the firm looks like,” he said. “That is something that can be easily measured in a quantitative manner.”
Gary-Martin agreed, adding that a lack of representation is a red flag for Black employees, no matter how much diverse messaging a firm disseminates: “When people don't see folks who look like them in leadership seats, they think, ‘There's no path for me.’”
Tsuro said that if he had to highlight one takeaway for listeners, it would be the importance of allyship.
“Don’t be a witness — be an ally,” he said. “Join any groups or networks you can to understand what people are going through right now — it will help you become more empathetic. We need your voices to help create change.”
Justine Phoenix, Head of Nicsa’s Diversity Project North America said the organization plans to continue this important dialogue through a series of discussions centered around allyship and actionable takeaways. To find out how to become involved in the Diversity Project, click here.
#DiversityProject
#DiversityandInclusion
Boston, MA –February 27, 2020— Nicsa announced the recipients of its annual Volunteer of the Year Awards. Honorees will be celebrated at the Nicsa Strategic Leadership Forum held from February 26 - 28, 2020 at the Marriott Harbor Beach Resort and Spa in Fort Lauderdale, Florida.
Nica’s Volunteer of the Year Awards recognizes the outstanding efforts of members who are especially dedicated to servicing the Nicsa community.
“Nicsa is proud to present our Volunteer of the Year Awards to this year’s exceptional winners, who have been tirelessly committed to furthering Nica’s mission of connecting all corners of the asset management industry and advancing best practices. We are all very thankful for their hard work and extraordinary efforts to support the Nicsa community, which ultimately serves to make the global asset management industry stronger,” said Jim Fitzpatrick, President and CEO of Nicsa.
Nicsa’s many topic and events committees work to provide association members with educational content, resources, and events on the issues that matter most to the global asset management industry. On behalf of Nicsa, committee members support the association’s mission of developing, sharing, and advancing leading practices among industry participants. Each year, Nicsa recognizes volunteers who have constantly gone above and beyond in their efforts to serve the Nicsa community in the last 12 months.
A list of this year’s honorees follows:
Abandoned Property
Leeann Dionne, SS&C
Alternative Investments
Julie Collison, Merrill Lynch
Compliance & Risk
Erik Olsen, ACA Compliance
Content
David Parks, EY
Data Analytics
Jason Dauwen, SS&C
Diversity Project Best Practices
Paula Modugno Tepper, PGIM
Diversity Project Public Relations
Tom Collimore, CFA Institute
Diversity Project Talent Management
Pam Burns, Northern Trust
General Membership Meeting
Sonja Formato, Foreside
Membership
David Halligan, SFS Mars Solutions
Next Gen
Lana Bergstein, Dimensional Funds
Product & Distribution
Sonja Formato, Foreside
Regional Events
Beverly Dube, Celera Systems
Retirement
Rob O’Brien, Putnam
Strategic Leadership Forum
Jennifer Hoopes, Foreside
SMA Working Group
Patrick Mullins, Columbia Threadneedle
TA
Karen Walsh, Putnam
Technology
Sam Perone, Merrill Lynch
Webinar Advisory
Lisa Light, SS&C
President’s Awards
Lynette Turner, BNY Mellon
Veronica Lee, FIS
More information about the Nicsa Volunteer of the Year Awards and the 2020 Strategic Leadership Forum can be found at nicsa.org.
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
Nicsa aims to help firms operating in all segments of the global asset management industry meet the changing needs of their clients by aligning and educating industry participants through formal education programs, interactive forums, networking opportunities, and initiatives such as the Diversity Project North America. The Diversity Project’s goal is to accelerate progress towards a diverse and inclusive culture in the asset management industry to deliver the best possible results for clients, reflect the society we serve, and ensure long-term business sustainability. Click here for more information on Nicsa’s Diversity Project North America initiative.
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Event will highlight technology trends, distribution evolution, and top-tier client service and investment management strategies
Boston, MA–February 20, 2020 — One of the most important events on the asset management industry conference calendar, Nicsa’s 2020 Strategic Leadership Forum, is just days away.
Taking place in Ft. Lauderdale, FL from February 26th through the 28th, the Strategic Leadership Forum brings together more than 300 senior leaders from all areas of the asset management industry to share perspectives and debate head on the most pressing issues facing the space. The event targets executive-level leaders strategically positioning their firms for growth in an evolving and fiercely competitive environment.
“Every year, we look to put together the most robust agenda possible, so our members can not only engage with their peers and learn about the latest trends but also leave with actionable ideas that will help them and their firms gain an edge in this highly competitive space,” said Jim Fitzpatrick, President and CEO of Nicsa.
Justine Phoenix, Vice President of Nicsa’s Broker Dealer Engagement initiatives said, “Product and distribution themes are a huge priority for Nicsa’s members and I’m very excited about the topics and speakers we’ll be covering in Florida this month. Attendees will come away with not only an understanding of the critical business issues, but how they can implement effective strategies.”
Highlighting the agenda are expert panels on innovations in client-first fee structures; distribution strategies, data management, and regulatory demands in 2020; major technology trends such as artificial intelligence (AI) and machine learning; and projections and predictions for the industry in 2020. Additionally, there will be highly focused “learning clinics” that will include deep dives into the advisor landscape, effective vendor governance oversight programs, and key trends impacting financial advisors.
Wall Street veteran and one of CNBC’s original “Fast Money Five,” Guy Adami will be moderating Nicsa’s much anticipated annual Face the Membership talks featuring C-Suite executives within the global asset management industry. The Forum will also feature an inspiring keynote by leadership expert and author Jimmy Blackmon.
The speaker line-up for the 2020 Strategic Leadership Forum includes:
“The Strategic Leadership Forum offers attendees a unique opportunity to hear diverse perspectives on the latest trends and challenges around strategic business planning in 2020. The actionable insights gained through this forum will serve to further advance and strengthen the global asset management industry,” said Dan Houlihan, Nicsa’s Chairman of the Board of Directors and Executive Vice President, Head of Asset Servicing for the Americas at Northern Trust Company.
At the conclusion of the Strategic Leadership Forum on February 28th, Nicsa will host the 2020 Blackwell Scholarship Charity Golf Tournament. All net proceeds from the tournament will go towards supporting the Nicsa William T. Blackwell Scholarship Program, which recognizes outstanding students from the Nicsa-member community with financial and social support for postsecondary education. Blackwell Scholars are provided with four years of scholarship support, a mentor from a Nicsa member company and access to career networking and internship opportunities.
The 2020 Strategic Leadership Forum is being held at the Marriott Harbor Beach Resort and Spa in Ft. Lauderdale, FL from February 26-28, 2020. For the complete program agenda, including sessions and speakers, click here.
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
Nicsa aims to help firms operating in all segments of the global asset management industry meet the changing needs of their clients by aligning and educating industry participants through formal education programs, interactive forums, networking opportunities, and initiatives such as the Diversity Project North America. The Diversity Project’s goal is to accelerate progress towards a diverse and inclusive culture in the asset management industry to deliver the best possible results for clients, reflect the society we serve, and ensure long-term business sustainability. Click here for more information on Nicsa’s Diversity Project North America initiative.
Nicsa Presents Honorees with Volunteer of the Year Awards at SLF 2020
Nicsa is pleased to announce the winners of its annual Volunteer of the Year Awards. Honorees will be celebrated at the Nicsa Strategic Leadership Forum held from February 26-28, 2020 in Fort Lauderdale, Florida.
“We look forward to honoring Nicsa committee members who have demonstrated committed excellence in driving forward educational content for our members. Their leadership has driven member collaboration and increased industry dialogue, which in turn paves the way toward the building of best practices in the global asset management industry,” said Jim Fitzpatrick, President and CEO of Nicsa.
Nicsa’s committees work on behalf of the organization to provide its members with content, resources, and events to keep up to date on evolving issues within the global asset management industry. By doing so, the committees support the association’s mission of developing, sharing, and advancing leading practices among industry participants. Each year, Nicsa recognizes outstanding volunteers whose sustained contributions over the previous twelve months were deemed exceptional.
A list of this year’s honorees, by Committee, follows:
Abandoned Property
Leeann Dionne, SS&C
Alternative Investments
Julie Collison, Merrill Lynch
Compliance & Risk
Erik Olsen, ACA Compliance
Content
David Parks, EY
Data Analytics
Jason Dauwen, SS&C
Diversity Project Best Practices
Paula Modugno Tepper, PGIM
Diversity Project Public Relations
Tom Collimore, CFA Institute
Diversity Project Talent
Pam Burns, Northern Trust
General Membership Meeting Planning Committee
Sonja Formato, Foreside
Membership
David Halligan, SFS Mars Solutions
Next Gen
Lana Bergstein, Dimensional Funds
Product & Distribution
Sonja Formato, Foreside
Regional Events
Beverly Dube, Celera Systems
Retirement
Rob O’Brien, Putnam
Strategic Leadership Forum Planning Committee
Jennifer Hoopes, Foreside
SMA Working Group
Patrick Mullins, Columbia Threadneedle
TA
Karen Walsh, Putnam
Technology
Sam Perone, Merrill Lynch
Webinar Advisory
Lisa Light, SS&C
President's Award
Lynette Turner, BNY Mellon
Veronica Lee, FIS
If you are interested in learning more about the Nicsa Awards or attending the 2020 Strategic Leadership Forum, visit: nicsa.org .
Join us in Fort Lauderdale from February 26-28 to address the industry’s most important issues head on. Solidify your 2020 business plans with timely insights from a diverse set of perspectives—asset management firms, broker dealers, and an extensive group professional service firms. Nicsa has over twelve hours of educational content lined up with an impressive slate of expert speakers.
Conference highlights include:
Guy Adami, One of CNBC's original "Fast Money Five" and Wall Street Veteran
This year’s Face the Membership feature promises to be a dynamic and interactive session. Asset managers and broker dealers take the stage for a discussion around the latest business trends and challenges. A must attend session for all areas of the asset management industry!
Jimmy Blackmon, Author, Leadership Expert, Military Leader
Having spent 30 years leading soldiers in the U.S. Army, Jimmy Blackmon has led high-risk missions all over the world. Jimmy uses these experiences to teach others how to get the most out of teams under extreme pressure in high stakes situations. From storytelling to time management, from conducting effective meetings to holding people accountable, Jimmy helps business leaders put it all together while navigating the complexities of working in the 21st century.
Peter Kraus, Chairman & CEO of Apeture Investors
Innovations in Client-first Fee Structures will tackle the shifting paradigm around fee structures for asset managers. Wall Street veteran Peter Kraus takes a deep dive into what investors are paying for performance, what's incentivizing portfolio managers, and how the asset management business model is evolving to address structural shifts.
Candida "Candi" Wolff, Executive Vice President, Global Government Affairs, Citi
With the 2020 presidential race in full swing, investors and industry participants alike brace for the potential outcomes of the election season. What's the impact to the broader economy and financial markets in particular? Candi Wolff of Citi provides an in-depth and candid look at today's unique political landscape and the future impact on the global asset management industry.
“Nicsa’s Strategic Leadership Forum provides a great value to our members,” said Jim Fitzpatrick, President and CEO of Nicsa. “The association continues to expand its reach by providing timely and educational insights on the industry’s top issues to all segments of our membership, including distribution, product development, and technology. I welcome our members to actively engage in the development of best practices within the industry we serve by attending the 2020 SLF.”
Nicsa is committed to bringing together today’s top thought leaders within the asset management industry to create an optimal opportunity for collaboration, networking and idea sharing.
Secure your spot today at the Nicsa Strategic Leadership Forum.
Washington, D.C.– January 13, 2020 – Today, leading asset management trade association NICSA is announcing it is rebranding to “Nicsa” and is upgrading its technology tools to better serve its members. The enhancements bring a fresh new look and improved engagement functionality as it further expands its presence in the global asset management space.
“We are very proud and excited to introduce our Nicsa 2020 rebrand and upgrades. We believe these vital changes will help convey the breadth of content and opportunities we offer as well as provide an improved member experience,” said Jim Fitzpatick, President and CEO of Nicsa. “We hope the new Nicsa will invigorate our members in this new year and beyond, as we further our mission to connect all areas of the global asset management industry.”
Nicsa’s refreshed brand emphasizes connectivity and community within the global asset management industry. The brand encompasses Nicsa initiatives such as the Diversity Project North America and Blackwell Scholarship programs, and underscores the association’s modernization and expansion into cutting-edge business areas such as technology, distribution, and product innovation.
Nicsa’s platform improvements focus on three main components: a redesigned website, a new community portal, and a new learning management system. The website, nicsa.org, features streamlined navigation, enhanced functionality, and new analytics tools. Via the website, users can access Nicsa Hub, a community platform allowing members to connect and share information, and the Nicsa Knowledge Center, a learning platform featuring Nicsa content and resources. “I look forward to seeing Nicsa’s momentum continue with this meaningful update. I’m also pleased that our members now have a platform upon which to share valuable resources and collaborate on the development of best practices,” said Jylanne Dunne, Vice President of the Diversity Project North America.
“The updates to Nicsa’s technology platforms and brand provide a great new foundation for even bigger and better things to come from our growing number of members across the asset management space,” said Dan Houlihan, Chairman of the Nicsa Board of Directors and Executive Vice President, Head of Asset Servicing for the Americas at Northern Trust Company. “I am excited about Nicsa 2020 and look forward to all the new strides we will be making from these upgrades in the months and years to come.”
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
Nicsa aims to help firms operating in all segments of the global asset management industry meet the changing needs of their clients by aligning and educating industry participants through formal education programs, interactive forums, networking opportunities, and initiatives such as the Diversity Project North America. The Diversity Project’s goal is to accelerate progress towards a diverse and inclusive culture in the asset management industry to deliver the best possible results for clients, reflect the society we serve, and ensure long-term business sustainability. Click here for more information on Nicsa’s Diversity Project North America initiative.
McLean, VA, January 30, 2017—The National Investment Company Service Association (NICSA) announced at its annual General Membership Meeting in September 2016 the election of Dan Houlihan, Senior Vice President and Head of Global Fund Services at Northern Trust Company, as Chairman of its Board of Directors.
As Chairman, Dan will preside over the governing body of the Association as well as NICSA’s executive committee. The board is responsible for oversight of policy and activities of the trade association, whose members include investment management companies, broker dealers, banks, and professional service firms that support the global financial services industry. An announcement was put forth by Northern Trust Company on January 30.
Commenting on the appointment, NICSA President Jim Fitzpatrick said, “Dan brings a comprehensive knowledge base and a strategic outlook on the financial services industry to NICSA. We are very pleased to have an individual of Dan’s caliber lead our Association.”
About NICSA
The National Investment Company Service Association (NICSA) is a not-for-profit trade association providing leadership and innovation in independent education programming and information exchange within the global financial services industry.
NICSA member companies operate in all segments of the financial industry and include mutual fund complexes, investment management companies, broker dealers, custodian banks, transfer agents, and other professional service firms including audit, tax, legal, technology, marketing, telecom, and compliance.
NICSA was established in 1962 as an education and networking forum for financial professionals. Today, NICSA offers a comprehensive range of services, allowing members to develop, share, and advance leading practices among global investment management industry participants.
McLean, VA, August 21, 2013 -– NICSA and Money Management Executive are pleased to announce the winners of the 2013 NOVA Awards. To be honored at the 2013 NICSA General Membership Meeting on September 20, 2013 in Boston, these awards recognize outstanding service, leadership and innovation within the fund operations industry.
Nominated by their fund industry colleagues, this year’s winners were chosen by an independent judging panel of distinguished industry leaders who blindly scored each submission to determine a winner for each of the following award categories:
CREATIVITY IN MARKETING OPERATIONS
Winner: Putnam Investments
Honorable Mention: Gregory Bassuk, Chief Operating Officer, IndexIQ
INNOVATIONS IN BACK OFFICE EFFICIENCIES
Winner: OppenheimerFunds Intermediary Services
Honorable Mention: SEI – Investment Manager Services
INNOVATIONS IN CUSTOMER SERVICE
Winner: FundVisualizer, Putnam Investments
Honorable Mention: Janus Capital Group - Team CVS: Craig Brown, Ginger Fanning, John Urosevich
VISIONARY LEADERSHIP
Winner: Jim Tracy, Morgan Stanley Wealth Management
Honorable Mention: Charles Rizzo, John Hancock Funds
“Each year, the NOVA Awards program highlights NICSA’s commitment to innovation and achievement within the global investment management community through the recognition of industry leaders who have set their organizations apart by exemplifying outstanding service, embracing new technologies and streamlining back office processes.” said Fred Naddaff, Chair, Board of Directors, NICSA.
About NICSA
NICSA is the leading provider of independent education and networking forums to professionals in the global investment management community. It is a network of nearly 10,000 business professionals from within the investment management industry and the firms that support the industry, including mutual fund complexes, investment management companies, custodian banks, transfer agents and independent providers of specialized products and services. The Association consists of corporate member firms with offices operating in major financial centers around the world. Membership fees are surprisingly small, yet the benefits of membership are anything but. NICSA offers the most comprehensive range of services in the industry, allowing members to learn, network and share best practices locally, nationally and globally.
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