Outsourcing certain business functions to specialist providers is not a new phenomenon across the capital markets. But times are changing. Even before the onset of the coronavirus (Covid‑19) pandemic, buy-side firms had begun taking a long hard look at the processes and technologies underpinning their business from the front to the back office, with a view to optimizing their existing operations and focusing on their raison d’être as money managers, first and foremost. While the pandemic is far from over—making it impossible to predict with any certainty what the industry will look like when it emerges from this latest crisis—what is clear is that Covid‑19 has manifested as a catalyst and accelerator of change.
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