Investment Magazine
 

Bryan Gray’s flexibility at JPMorgan

  • 8 June, 2012
  • 0
  • print
This is an archived article originally published on I&T News
“The operations guys are pushing themselves to be 100-per-cent accurate in their work,” says JPMorgan's Bryan Gray. “That attitude is what will one day leapfrog us to number one.”

Bryan Gray, in charge of JPMorgan’s custody sales and customer relationships in Australia and New Zealand, has three women working flexible hours for him as relationship managers.

By lore, relationship managers are on call 24 hours a day, seven days a week. But Gray seems remarkably liberal about working hours.

“They have great relationships with clients,” says Gray of his colleagues. “They’re always there, but clients recognise their working arrangements.”

Perhaps it is the influence of a wife and two teenage girls on the Scottish-born New Zealander that has made Gray pragmatic instead of dogmatic.

He has brought the same attitude to other aspects of JPMorgan’s custody business, most notably this year when the bank lost its custody contract with the $20-billion fund REST Industry Super to State Street.

“We don’t like it when we lose business,” says Gray in a matter-of-fact manner. “But we take the feedback we get and learn from it.”

REST told JPMorgan it thought the New York-based bank had fallen behind on technology.

Gray and his team immediately informed their colleagues in New York. Gray is happy to report there has been “an absolute turnaround in client-facing technology” over the last three months.

The bank’s asset-management clients are now alerted on corporate actions they should attend to: a red-coded message means the action is urgent and should be completed the same day. Amber means the action should be attended to quickly and a green message means the client has time to attend to it.

Gray says he was struck by the attitude at an internal operations leadership meeting last month. JPMorgan operations staff complete fund accounting and other performance measurements for all the bank’s clients. Their accuracy rate on valuations produced is more than 99 per cent.

“The operations managers were saying that if they talked to a Qantas engineer and he said he was more than 99-per-cent satisfied with the work he had done, they probably wouldn’t get on the plane,” recalls Gray.

“The operations guys are pushing themselves to be 100-per-cent accurate in their work,” he says. “That attitude is what will one day leapfrog us to number one.”

As of December 2011, JPMorgan was the number-two custodian in Australia, with $367 billion assets under custody or a 20-per-cent market share. National Australia Bank has a 30-per-cent market share.

JPMorgan is not only calling in its global technology experts or stressing its commitment to accuracy in its client reporting, but also cementing relationships with some of Australia’s biggest superannuation funds.

Robert Bedwell, a JPMorgan investment banker, helps augment Gray’s 20-member team by talking with chief investment officers and occasionally fund chief executives about what they want from their bankers amid domestic and overseas regulatory pressures, volatile markets and brand management.

Pages: 1 2

© Copyright: Whole articles from this website and newsletter cannot be reproduced without permission from the editor. If you wish to publish introductions to any article please ensure that it links to original content site www.investmentmagazine.com.au, and that it shows clear attribution to Investment Magazine, plus author name and date. Failure to abide by this request will be considered a breach of copyright and legal action will be taken.

Vote
Is core property and global infrastructure heading for a price bubble?
 
in News

QSuper segregates pension assets

QSuper has segregated $10 billion in assets held for members in retirement to capitalise on greater tax efficiencies. The change is expected to ... [more]

What is your fund doing about this graph?

Over 13 years of writing about pensions the graph below is one I have barely seen, but over the last few weeks it ... [more]

in News

Cbus wants impact study of pension at age 70

Cbus is to undertake an examination into the potential impacts on its members of shifting the pension age to 70. The fund has ... [more]

in News

Door opens onto full Chinese equity market

The diversity of Chinese equity portfolios is to increase when the number of companies accessible to foreign investors doubles at the end of ... [more]

in News

The great post-retirement opportunity

Australia has the opportunity to lead the world in post-retirement products and export its know-how, according to Moshe Milevsky, the internationally renowned author ... [more]

in News

Super Fund Awards’ finalists announced

The finalists of the Chant West/Conexus Financial Super Fund Awards have been announced by the research house Chant West. The fund ratings firm ... [more]

in News

New Vision Super CIO to target investment costs

Michael Wrysch has been tasked with reducing Vision Super’s investment costs as part of his new role as chief investment officer of the ... [more]

NGS rebrand – ‘for those who understand the true meaning of wealth’

A week after trustees of industry funds were warned that without a brand strategy they would not survive the ‘medium term’, NGS Super ... [more]

in News

Sunsuper confronts lack of board diversity

Sunsuper has improved the gender and geographical diversity of its board with the appointment of the Sydney based Elizabeth Hallett as an employer ... [more]

in News

QSuper’s cohort strategies pose challenge to US and UK schemes

QSuper’s creation of eight different investment cohorts for its members has sparked curiosity and admiration from defined contribution experts in the US and ... [more]

in News

CBUS members welcome income projections

CBUS has gained a 97 per cent approval rate from members for statements which confront them with an estimate of their income in ... [more]

in News

Sunsuper: a growing provider of private capital

Sunsuper is expanding its investment team to help it take greater advantage of investment opportunities. The fund, which runs $28 billion in assets, ... [more]

in News

Cost of Stronger Super leads to Media Super cutting CIO role

The cost of Stronger Super compliance and product development has led Media Super to cut the role of chief investment officer. Jon Glass ... [more]

in News

Sunsuper expands investment team to 18

Sunsuper has increased the size of its investment team to 18 with the appointment of Lounarda David to the newly created role of ... [more]

in

How data analysis can work for funds

Whenever Manchester United play at home, eight hours after kick-off the local crime rate jumps by almost 10 per cent – regardless of ... [more]

Japanese equities – more growth to come?

After two decades of disappointment Japanese equities posted an incredible 57 per cent return in 2013. Leading institutional investors met in Melbourne to ... [more]

Tackling lawyer led insurance claims

Some of the most influential people in the group insurance space met in Sydney in March to discuss the sustainability of the sector. ... [more]