Making business in a changing Europe

Mon, 03/08/2015

UniCredit’s Julia Romhányi took part in an FSR roundtable on reassessing business strategies. By Andrea Kárpáti, Head of Secretariat, GSS Hungary                             

 

The journal Financial Services Research held a strategy discussion focusing on the development of the securities services segment in Central and Eastern Europe, South-East Europe and CIS markets in Budapest, the capital of Hungary. UniCredit GSS was represented by Julia Romhányi, Head of CEE Global Securities Services.

More than three years after the last FSR forum on this subject, a couple of determinant representatives of the securities industry sat down to talk about the changes that have been shaping the market and the environment in recent years and what the future will bring for those who want to sustain their position in the custody business. 

The motivating force behind this initiative was the need for a clearer picture of what the securities industry in Europe is transforming into as a result of the wide body of regulatory reform and infrastructural changes.

A new world

Consequently, key clients should revise their procurement strategies and their procedures for maximising asset safety and operational efficiency. Or in the words of Julia: “This is no longer the same securities services market we knew twenty, ten or even five years ago. It has changed and is likely to continue to evolve in ways that will make it an imperative for players to take action, while no one can predict with certainty the direction the market will take.”

As Julia explained, UniCredit GSS has made key investments over the past two to three years, mainly in human resources, technology and risk management, in order to meet the new requirements.

Financial Services Research will publish an extensive article based on the discussion in Budapest in its October 2015 issue.