[ N E T W O R K M A N A G E M E N T ]
" Wider and in depth understanding of geopolitical risks which requires data analyses by humans can help institutions better prepare for and handle extreme events more effectively .”
DAN HICKEY , GLOBAL HEAD OF NETWORK MANAGEMENT AT STATE STREET
“ Network managers would agree that the most challenging aspect [ of the role ] is to balance resilience , scale and efficiency with the continued need for real , on the ground presence , local market expertise and staying power .”
SIMON GOODMAN , GLOBAL HEAD OF SECURITIES NETWORK MANAGEMENT , JP MORGAN
to run the bank ’ s European market advocacy function , recently returning to a network management role . Having worked at Thomas Murray prior to joining the bank , he therefore offers a long-term perspective on the network management function . “ The world we ’ re living in now is arguably quite a different world than we were living in five years ago , not only for pandemic reasons , but geopolitical reasons as well ,” he notes .
A whole new world The pandemic did of necessity introduce changes to the modus operandi of network management teams , not only in terms of traditional ways to monitor due diligence through site visits , but in other day-to-day aspects of the business . “ In a very , very short space of time , we proved to ourselves that as an industry we ’ re incredibly resilient ,” says Buzza . Nevertheless , he admits , “ From a network perspective , one of the key components of the job is getting out there and seeing people . In our top 25 markets , we generally visit every year . During the pandemic , we had to default to remote due diligence .”
This was not a total upheaval , he acknowledges . Remote due diligence defaults were already in place for certain markets . “ Where markets don ’ t necessarily have huge assets but are open for investment , the processes , controls , governance and oversight were already there for that ,” he says . That particular challenge has now eased . “ We ’ re travelling again , which is great ,” he says . Onsite due diligence visits remain important not only for the technicalities of the market , but for the relationship management as well . I ’ m a big believer that network management is multi-faceted : it involves technical aspects , but also risk management , commercial relationship management and future proofing .” Travel is also important for network managers to take the temperature of the industry as a whole . The annual gathering at The Network Forum , this year in Athens , provided such an opportunity and the return to such in-person gatherings has been
Q3 2023 SecuritiesReview . com 5