By Christian Thygesen, Partner & Chairman of the Board | The 23rd of November, 2018
Some 6 years ago, we at Capital Market Partners (CMP) toured the country visiting smaller and medium sized banks to suggest looking at the possibility of outsourcing (parts of) their Back-Office operations, in particular the settlement and custody of non-Danish securities. To put it nicely, our success was limited. We struggled to understand why these institutions wanted to maintain operations which – on a cost-per-transaction basis – seemed expensive. We never came up with a better answer than the idea that it was part of the DNA of these institutions to have such a department.