[ N E T W O R K M A N A G E M E N T ]
Network management :
what ’ s new ?
Many of the securities sessions at Sibos reflect the exceptional global challenges facing the securities industry over the past two or three years . Ultimately these will land on the desks of network managers to address . Richard Schwartz reports .
While conducting background research for this article , I looked at previous coverage of network management issues by Global Custodian . From 12 years ago , I came upon a story headlined , “ Network Management To Become Most Important Part of a Bank ”. Authored by “ None ” ( no longer with the publication , I believe ), it referenced a speech by Tim Reucroft , a director at Thomas Murray .
To quote the article : “ If you go back 10 to 15 years , network management was relatively easy compared to now ,” says Reucroft in the article . “ With the changing landscape in regulation and business in general , network management could either disappear altogether or become the most important part of a bank . For instance , UCITS IV could change network management forever as those who change the entities network management could put the bank directly at risk .” So , what is today ’ s UCITS IV ? What has changed in the way network management is done generally in the industry and how do you meld the requirements for digital assets with the requirements for traditional assets ? What is top of mind for network
managers today ?
Throughout most of my journalistic career , when it came to network management , there was one constant : Northern Trust ’ s global head of network management , Andy Osborne . When he retired last April , Osborne had long been one of the faces of the global network management scene , inducted into the Global Custodian Hall of Fame in 2013 . “ I ’ ve certainly enjoyed the intellectual challenge of network management , which I still consider to be one of the most exciting jobs in the industry ,” said Osborne at the time . “ It consists of so many committed , smart and generous people , and I ’ ve made many professional friendships which have morphed into personal friendships over the years .” Michael Buzza , now global head of network management and market strategy at Northern Trust , joined the bank as a network manager 17 years ago before moving
4 Securities Review Q3 2023