[ G C A W A R D S | L I F E T I M E A C H I E V E M E N T W I N N E R ]
Three is the magic number for Harwood-Jones
In March Global Custodian awarded Margaret Harwood-Jones , global head of securities services at Standard Chartered , the coveted Lifetime Achievement award . We take a look over her illustrious time within the securities services industry .
Margaret Harwood-Jones describes her career in securities services in threes – spending three decades in financial services , with three different institutions - HSBC , BNP Paribas , and now , Standard Chartered . However , she also describes the career move that set her on the path to become Global Custodian ’ s latest Lifetime Achievement Award winner as “ unintentional ”. “ At that juncture , I did not appreciate the significance of the industry , nor understand the business ,” Harwood-Jones explains regarding her move into securities services at HSBC . The prospects of promotion and the opportunity to move onto the next level of management within the UK bank was what convinced Harwood-Jones to go for the job , yet the process was anything but straight forward . “ I was the only woman that was shortlisted and was at least 10 years younger
than the rest of the candidates . What happened next wasn ’ t as I might have expected . The interview was a disaster – I couldn ’ t get a word in edgeways ; no opportunity to present myself or my suitability for the role .”
No going back To her surprise that she was offered the job just 24 hours later . But to make that transition was not all that simple , especially with her colleagues trying to convince her at the time not to take it .
“ My perspective on the business has evolved , and it is the experience from the roles I have had which has impacted this .”
“ Everyone tried to talk me out of it – the most worrying was the consistent message about being careful – i . e . following a career that would go nowhere . Looking back , some of their counsel wasn ’ t wholly misplaced . This was back in the 1990s ; UK custody banks hadn ’ t been invested in and almost all then sold their franchises to another , most often a US bank . None of that ‘ advice ’ put me off however and here I am still , 25 years later .”
“ The removal of redundant and duplicated processes across the service chain is happening .”
It has been a career which has seen Harwood-Jones oversee several important businesses , including roles as deputy head of global investor services at HSBC , running the asset manager and alternative investment segment at BNP Paribas Securities Services , and eventually , global head of securities services at Standard Chartered Bank in Singapore .
And during her time with each of the three banks , she has gained a range of different perspectives on the global securities services industry . “ My perspective on the business has evolved , and it is the experience from the roles I have had which has impacted this ,” she explains . “ At HSBC , I was focused exclusively on the UK marketplace ; with BNP Paribas I was working for a franchise with European heritage which then became global . Now with Standard Chartered in a global role , my perspective is shaped by the portfolio of emerging and frontier markets across Asia , Africa and the Middle East that I oversee .”
Tough decisions Harwood-Jones also explains that the
40 Global Custodian Summer 2018