alain mandy
Chief Operating Officer
London,UK
Summary
Smart Business Growth | Scale & Efficiency| Operational Excellence | Technology & Digitalization | Client Experience |Risk Mitigation| Cost Reduction Perceptive and dynamic business leader and change agent with over 25 years' experience in six countries and multicultural environments with extensive industry network, well connected to other Asset Managers as Chair and Member of numerous working groups. Drives growth, efficiency, digitalization, and technological innovation for global leaders in asset management and their clients. Scales and enhances profitability of global businesses. Conceives and implements business transformation from product development and launch to radical improvements in speed and cost efficiency in fund servicing, distribution, and reporting. Optimizes partnerships and relationship with service providers and vendors, outsources and off shores. Aligns products and services to evolving client demand. Ensures regulatory compliance and establishes robust governance. Establishes and maintains strong working relationships with key stakeholders, builds consensus across functions and geographies, persuades and influences at all levels, championing innovation. Recruits, directs, and develops high-performing teams of diverse talent across the Americas, APAC and EMEA Accomplished [Job Title] with progressive industry background and decisive leadership style. Offers strategic planning abilities, background in change management and forward-thinking mindset. Ready for challenges and focused on meeting future demands. Results-driven Chief Operating Officer drives performance improvements and leads strategic initiatives. Skilled manager of cross-departmental activities with adaptive communication of organizational objectives. Develops and executes innovative strategies for stimulating growth and service quality.
Overview
26
26
years of professional experience
4
4
Languages
Work History
Chief Operating Officer & Chief Transformation Officer
WELLINGTON MANAGEMENT
London, ENG
01.2018 - 01.2024
- Recruited as COO by private and independent investment management firm with client assets under management totaling over $1Trn, serving as investment advisor to over 2,200 institutions in 60 countries
- Directs team of 40 people
- With remit to facilitate and drive growth, efficiency, and scale in fund business
- Role expanded in 2022 to encompass CTO function with strong focus on technological innovation
- Assets grew from $30Bn to $60Bn during time as COO
- Generated savings in excess of $42M over five years by sponsoring and leading project to change funds administrative fees from pass-through to fixed with switch of providers from BBH to State Street in 2018
- Expanded offering in private and hedge funds from Cayman to Europe including review of existing vehicle in the market (SCSp, ELTIF, LTAF, RAIF, AIF, Part II) as well as semi-liquid and hybrid private / public products
- Delivered Sustainable Finance Disclosure Regulation and ESG labelling implementation for UCITs product including conversion of 70 Irish and Luxembourg funds to Article 8 & 9 across Climate Change, Impact and Stewardship strategies
- Drove speed and efficiency by adopting latest technology in automation of many processes, including use of Gen AI for RFP / RFI team
- Outsourcing numerous internal, labor-intensive processes to third parties: management company outsourcing to Carne: rebate agreement calculation and payments to State Street: regulatory reporting, data management outsourced to Accenture; implementing DocuSign Digital Signature
- Championed digitization and use of blockchain technology
- Increased speed of settlements, reducing from two days to a few minutes, with greater transparency, greater security, and lower cost
- Led proof of concept with private bank to tokenize private fund using Avalanche blockchain technology, moving away from legacy certificates and manual processes
- Delivered approximately $2M of additional savings per year from 2023 as sponsor and manager for renegotiation of vendor / service provider fees for entire range of Wellington funds
- Enhanced oversight and reduced time to market through creation of Fund Lifecycle Management tool in Salesforce for greater visibility on progress and automated prompts across teams for 20 - 30 fund launches and closures each year
- Maintained product innovation through launch of first Luxembourg PE fund (previously all Cayman)
- Partnered with Carne Group for cost-efficient management, leveraging expertise in risk, compliance, due diligence, and governance
- Substantially increased speed, reducing processes from months to weeks through creation of specialist Fund Distribution, Services and Operation team of 25 people in US, LatAm, EMEA and APAC, covering both distribution and wealth channel
- Provided wider retail investor access to UCITs products in Asia by leading registration of Luxembourg UCITs in Hong Kong, Korea, and Singapore
- Recruited local team to oversee process and provide ongoing management
- Pioneered first China Qualified Domestic Limited Partner fund developed with large Chinese distributor
- Complex challenge, further complicated by COVID, required local recruitment in Shanghai, hiring local administrator and custodian
- Launched first Asia-domiciled fund ex Japan and Australia in 2020; Singapore VCC Funds (variable capital company) in place of investment trusts, on umbrella hub entity for multiple funds serving local Singapore clients.
- Championed continuous improvement initiatives, fostering a culture of innovation within the organization
- Guided teams through periods of significant change by providing clear communication and decisive leadership during transitions
- Improved employee satisfaction and reduced turnover through the development of effective training programs and performance management systems
- Played a critical role in mergers and acquisitions activities; including due diligence processes, negotiations, integration planning, and execution efforts to ensure seamless transitions
- Championed continuous improvement initiatives, fostering a culture of innovation within the organization.
- Guided teams through periods of significant change by providing clear communication and decisive leadership during transitions.
- Improved employee satisfaction and reduced turnover through the development of effective training programs and performance management systems.
- Played a critical role in mergers and acquisitions activities; including due diligence processes, negotiations, integration planning, and execution efforts to ensure seamless transitions.
Executive Vice President, Head of Fund Administration
PIMCO
01.2008 - 01.2018
- Joined market leader in fixed Income as VP Fund Administration for Europe
- Serially promoted as assets grew from $20Bn to $200Bn in around 100 European Offshore Funds, rising to EVP in 2016
- Managed team of 20 - 30 based in London, Hong Kong and Newport Beach, CA, overseeing fund accounting, custody, pricing, tax, fund reporting and fund data, and leading change initiatives, especially in response to evolving regulation, including CP86 in Ireland
- Generated cost savings of several million annually and enhanced service through vendor oversight and negotiation with service providers
- Moved business from IBT to BBH then to State Street for Fund Accounting, Custody and Transfer Agent
- Launched largest UCITs product in the world with AUM growing to $75Bn for PIMCO GIS Income Fund
- As Head of Product team, drew up prospectus and marketing documents, gained regulatory approvals, ensured sound board governance
- Built cost efficiency platform for UCITS Funds working with PMs, service providers, fund administrators, and data vendors
- Promoted brand with launch of successful and innovative Fixed Income Active ETF business in partnership between PIMCO and Source (now part of Invesco) in 2011
- That Active ETF business grew from nothing to $10Bn AUM in a few years
- Facilitated business expansion through introduction of pilot private credit and alternative funds in Luxembourg (Bravo strategy) in 2017, matching parallel US Delaware fund but more familiar and appealing to certain European investors
- Improved speed and relevance of investor reporting, moving dedicated Fund Reporting / Statistics team from California to London, aligned to specific European needs for all fund materials, including Bond reporting, Factsheet, KIID, Commentaries
- Led CSR community efforts through participation in Emerging Enterprise Program with Technoserve and PIMCO Foundation
- Developed micro financing mechanism for coffee and cocoa farmers and smallholders in Peru, summer 2015.
Audit Director & Manager, Asset Management
PWC
01.1998 - 01.2008
- Followed classic Big Four audit and tax route to certified accountant in Luxembourg, rising to Audit Senior in 2002 with posting to Chicago Office, covering major asset management clients, including Citadel, Natixis
- Amundi Alternative Investment and other hedge funds
- Further promotion to Manager with strong focus on alternatives in asset management
- In 2006 relocated to Spain becoming Audit Director for Asset Management Practice
- Led delivery of audit, tax, and consulting projects for clients in all geographies with a focus on Private Equity and Alternative Funds
- Main PwC audit clients include Fidelity, JP Morgan, Morgan Stanley, Merrill Lynch, Freddie Mac, HSBC, UBS, Rothschild, Santander, PIMCO, State Street, Credit Agricole, Manulife, Zurich, American Express, Bridgepoint and Arcano Partners.
Skills
Business Forecasting
Business Analysis
Planning and execution
Business Forecasting
Data Management
Teamwork and Collaboration
Organizational Skills
Websites
Locations
London
Timeline
Chief Operating Officer & Chief Transformation Officer
WELLINGTON MANAGEMENT
01.2018 - 01.2024
Executive Vice President, Head of Fund Administration
PIMCO
01.2008 - 01.2018
Audit Director & Manager, Asset Management
PWC
01.1998 - 01.2008