Case Study – Brexit Strategy & Operating Model Implementation

Background

A Tier 1 Inter Dealer Broker required a front to back Brexit strategy including; EU27 Location, Regulatory Licensing, Product/Competitor analysis, Legal Entity Restructuring and People/Capital relocation.

This required both SME & Project Management capabilities to work internal stakeholders across front, middle office & technology to deliver the book of work.

Delivery

• Created a complex programme of work spanning several different workstreams covering Front office strategy, Regulatory Compliance, Tech Transformation, Entity Restructuring, Legal & Tax and Client On-boarding.

• Identified the desks/products that would transition in a hard Brexit and ensured their business readiness in advance of the cliff edge date.

• Prepared licensing applications and successfully sought regulatory approval for new EU27 branches and trading venue licenses.

• Re-papered 1,000+ clients with the EU27 entities.

• Rationalised the entity structure by transferring EU27 branches out of UK mothership into an EU based entity.

Benefits

• Enabled the firm to continue to serve its EU27 clients via local EU27 entities post UK’s exit from the EU. 

• Expanded the firm’s EU27 footprint via new licensing capabilities, increased client base and enhanced product offering.

• Simplified the firm’s entity structure thereby making governance easier.