Funds Industry Report - Flipbook - Page 27
Paul Daly BNP Paribas Securities Services
Paul Daly
Managing Director
BNP Paribas Securities Services
With 350 employees across three locations in
Ireland, BNP Paribas Securities Services is a
leading provider of Fund Administration and
Custodial services to asset managers, asset
owners, issuers and nancial intermediaries.
Paul Daly has been the Head of BNP Paribas
Securities Services in Ireland since 2006, having
joined the organisation in 2001, fullling a variety of senior sales, relationship management
and business development roles. He was a
director of a number of Irish collective investment schemes and management companies,
and was appointed to the Irish Funds Industry
Association Council for a three-year term from
2010-2013. Paul spent the earlier part of his
career at JP Morgan, Irish Life Investment Managers and Allied Irish Bank.
Don’t Stop Believing…
The funds industry in Ireland has a bright
future, but only if we can attract and retain the
brightest minds. We must come together to
promote careers in nancial services – especially as we are now competing for talent with
non-nancial rms.
You’ve Come A Long Way Baby…
We have seen tremendous growth in the
funds industry over the last decade. Funds
administered by rms located in Ireland have
risen to €4.6 trillion, and counting. Ours is truly
an international business servicing clients
from all over the globe, which has resulted in
us having to be agile and exible with our
servicing operating model whilst respecting
local regulatory requirements.
Whether we consider short-term inuences –
Brexit, industry reform – or well-established
drivers of demand such as the ageing global
population, or the re-emergence of alternative
asset classes into the mainstream, the future
for the funds industry in Ireland is incredibly
bright.
But future growth is not merely an increase in
volume. The very nature of our industry is
changing – particularly in the fund administration space. Gone are the days of the monthly or weekly valuation processes that were very
familiar to me in the early part of my career.
We now face far more sophisticated operational client requirements around service
delivery, driven by fee compression, rising
competitive pressures and – perhaps above all
– the potential for new technologies to create
and unlock value.
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