In what likes a rather unusual move, business and financial adviser Grant Thornton UK LLP has agreed a new venture with independent consultancy Foley O'Neill. The two firms will work together to offer specialist securities finance and collateral management consultancy services.
Foley O'Neill provides financial services organisations with specialist, independent solutions across a range of financial products, including securities finance, collateral management, foreign exchange and cash/treasury management. It is led by Bill Foley and Sean O'Neill, who each bring more than 25 years of market experience gained at some of the world's leading financial institutions.
Foley said: “Securities finance and collateral management continue to be hot topics in the sector, with the current rate of change unprecedented in the industry. The need for independent and informed solutions in this area has never been greater and was the reason that Sean O’Neill and I formed Foley O’Neill. To have Grant Thornton work with us and bring the strength of its reputation for excellence, experience and resources to this area is significant both for us and the industry.”
O’Neill added about Grant Thornton: “The firm's expertise and resources allow us to jointly accelerate the product offering and ensure that it's in line with client needs. Our Asset Deployment Diagnostic (ADD) has the capability to ensure clients are aware of changes required to remain compliant and make optimal use of their inventory."
Added Alex Woodhouse, Grant Thornton UK partner and head of financial services business consulting: “We recognise that securities finance and collateral management has become an increasingly challenging and technically complex area for our clients. The shift of liquidity concentration to the buy-side has meant CEOs are being forced to reconsider traditional paradigms. [This] allows us to build a compelling offering in this space and devise best-in-class solutions for our clients."
