New York, NY, July 5, 2017 – Brown Brothers Harriman & Co. (BBH) today announced that Managing Director, Michael McGovern, was appointed Head of the Firm’s Investor Services Fintech offerings, which include middle office services, Infomediary®, and software-as-a-service technology solutions for asset managers and financial institutions. McGovern's appointment to this newly created position organizationally unites – and positions BBH to expand – its suite of data and technology solutions. Since 2001, BBH digital offerings have empowered clients to make better real-time decisions, manage business risk, and streamline investment operations. Demand for these capabilities has spiked in response to the market environment.
Previously BBH's Chief Information Officer (CIO) and Head of Systems, McGovern will focus on data strategy and client information delivery channels – two areas that asset managers and financial institutions have increasingly looked to leverage for revenue generation, cost control, and product enhancements. With a Fintech client base of over 250 institutions, BBH possesses the platform, domain expertise, and modular technology to help financial institutions access, organize, transmit, and use data more effectively across their internal and extended enterprise.
"Many asset managers target the middle office to reduce cost and increase analytic value, and there are clear efficiencies to be gained in this area,” said Geoffrey Cook, Partner responsible for BBH Fintech. “But if the real objective is transformation, asset managers will want to go beyond an organizational construct that was developed before automation and big data. Mike's experience applying information technology across the borders of front, middle, and back offices is rare and differentiated. It's the kind of competence our forward-thinking clients can put to use with today's new and emerging technologies.”
McGovern added, "BBH's focus on asset managers and financial institutions means that a lot of what we develop for ourselves to achieve efficient, scalable, and compliant cross-border operations is directly relevant to clients. Clients can use these innovations as their own, whether or not they also use BBH for financial or business process outsourcing services. This is a great time and a great opportunity to help clients achieve their strategic objectives with digital and data solutions."
Succeeding McGovern, Managing Directors Brian Condon and Lorrie Gordon have been appointed Co-heads of Technology for the Firm. Condon joined BBH from J.P. Morgan in 2016. At J.P. Morgan, Condon held numerous positions including Chief Technology Officer of the bank's Global Funds Services business, and Managing Director and Head of Product Development & Product Solutions for the Custody & Funds Services Business. Gordon joined BBH in 1994. She has held various leadership positions in Europe and the U.S., including Chief Development Officer and Global Head of Infomediary®.
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About Brown Brothers Harriman
Brown Brothers Harriman (BBH) is a privately held financial institution that has been a thought leader and solutions provider for nearly 200 years. The Firm serves businesses, institutions, individuals and families in its three business lines: Investor Services, Investment Management, and Private Banking.
BBH’s Investor Services business provides cross-border custody, accounting, administration, execution, and technology services in close to 100 markets for many of the world’s leading asset managers and financial institutions. The Firm has $4.8 trillion in assets under custody and administration (as of December 30, 2016).
Part of Investor Services, BBH’s Fintech offerings are designed to maximize client control and minimize risk. They include middle office services, BBH Infomediary®, and software-as-a-service technology solutions for asset managers and financial institutions. A core component of BBH’s single integrated technology platform, Infomediary® is a messaging and connectivity engine designed to streamline client operations. Infomediary® provides data translation, transformation, and transmission services to the world’s largest asset managers, transfer agents, and regional banks.
BBH operates in eighteen locations, including New York, Boston, Beijing, Charlotte, Chicago, Denver, Dublin, Grand Cayman, Hong Kong, Kraków, London, Luxembourg, Nashville, New Jersey, Philadelphia, Tokyo, Wilmington, and Zürich. For more information about Brown Brothers Harriman, please visit bbh.com.
BBH and Infomediary® are registered service marks of Brown Brothers Harriman & Co. in the United States and other countries.