Brown Brothers Harriman & Co. (BBH), the 200 year old financial service firm, has announced that Managing Director, Michael McGovern, has been appointed Head of the Firm’s Investor Services Fintech offerings, which include middle office services, Infomediary, and software-as-a-service technology solutions for asset managers and financial institutions. BBH has $4.8 trillion in assets under custody and administration as of the end of 2016.
BBH says that McGovern’s appointment to this newly created position unites and positions BBH to expand its suite of data and technology solutions.
McGovern was previously BBH’s Chief Information Officer (CIO) and Head of Systems. He will now focus on data strategy and client information delivery channels – two areas that asset managers and financial institutions have increasingly looked to leverage for revenue generation, cost control, and product enhancements.
BBH reports it has a Fintech client base of over 250 institutions.
“Many asset managers target the middle office to reduce cost and increase analytic value, and there are clear efficiencies to be gained in this area,” commented Geoffrey Cook, Partner responsible for BBH Fintech. “But if the real objective is transformation, asset managers will want to go beyond an organizational construct that was developed before automation and big data. Mike’s experience applying information technology across the borders of front, middle, and back offices is rare and differentiated. It’s the kind of competence our forward-thinking clients can put to use with today’s new and emerging technologies.”
McGovern added that much of what they develop internally can be leveraged for their clients as well;
“Clients can use these innovations as their own, whether or not they also use BBH for financial or business process outsourcing services. This is a great time and a great opportunity to help clients achieve their strategic objectives with digital and data solutions.”
Succeeding McGovern, Managing Directors Brian Condon and Lorrie Gordon have been appointed Co-heads of Technology for the Firm.
