AllianceBernstein (AB) chief executive of Australia and New Zealand and co-head of global client service, Jen Driscoll, said the evolution of the industry in the 12 years since AB was voted the overall fund manager at Money Management's Fund Manager of the Year awards had paralleled that of the global firm.
“The industry has evolved both in positive ways, and in ways which illustrate that we still have a way to go,” she said.
“It has become increasingly member focused; it has become increasingly outcome-oriented in thinking past the challenges… to thinking about the challenges of sustainability in the system.”
To commemorate the 30th anniversary of the Australian funds management industry staple Fund Manager of the Year awards, Money Management caught up with Driscoll, who spoke about how she had seen the industry evolve over the years.
Driscoll, who had just rejoined AB in the year prior to the firm’s success at the 2005 Money Management Fund Manager of the Year Awards, said there had been a focus on services that were best-in-class in a particular category.
Fast forward 12 years and the shift in business agenda for AB had correlated with shifts in the asset management landscape.
“What has changed a lot in the context of how we are engaging in the market now is it’s more about delivering solutions with real outcomes to clients,” Driscoll said.
“The process of how and what we are delivering to the market has evolved to be much more of an iterative, collaborative discussion, which has helped us determine what products are relevant.”
Moving forward, Driscoll was resolute in the belief that the funds management industry could benefit from redeveloped customer trust and development of products targeted at the increased life expectancy of the current population.
“We’re obviously in an environment where there continues to be a lot of pressure on the industry, both from within as well as from external forces,” she said.
“A strong focus and desire for me is to see our industry really create or strengthen the brand and the trust that sits behind the obligations that we have.
“I do think we need to really resolve and continue to challenge ourselves about where innovation is going, how we are addressing the challenges we know are there, and how we go about balancing market outlook and the prospects for growth with an ageing population, with a population that’s going to live longer.”
Secure your tickets now to the 30th celebration of the Fund Manager of the Year Awards.
Date: Thursday 25 May 2017
Location: Sofitel Sydney Wentworth
Time: 6:30pm – 11:30pm
Dress Code: Black Tie