Insight

Asset Management: Agility needed

Learn how asset managers can build resilience in the face of disruption.

Gregory Williams

Gregory Williams

Partner, National Sector Leader, Tax, KPMG US

+1 214-840-2425

Enabling remote work. Addressing liquidity and working capital challenges. Navigating choppy regulatory and economic environments. Mitigating evolving risks. COVID-19 is driving significant disruption in the asset management industry. Greg Williams, National Sector Leader for Asset Management, shares insights on managing uncertainty with agility and resilience and explains how KPMG helps firms prepare for a new reality.

Video transcript

Hello I'm Greg Williams KPMG's National Sector Leader for Asset Management. First let me send my best wishes to you and your family for safety and good health during these unprecedented times. As a father I know that creating a sense of stability and security for my children is certainly at the top of my agenda and I suspect it is it yours as well. Though there have been many impacts we won't want to remember, the extra time with my family from an unbroken streak of family dinners, to nightly walk to my daughter, have been priceless

As you deal with this situation on a personal level I understand that you are also encountering professional challenges not the least of which is the impact remote working on your people and on the processes that drive your business.

Many are leveraging previous investments in digital capabilities to minimize the impact of this new environment while at the same time using these capabilities as a competitive advantage.

Organizations lacking digital and cloud enablement are being forced to expedite actions to minimize the impact on their people and operations.

The need to be agile during a time of crisis can increase risk due to the changes in staffing processes and controls that are quickly implemented and may not appropriately mitigate risks.

We are working with many in the industry to rapidly identify and understand these risk to create an appropriate and effective risk mitigation plan.

As we approach the end of the first week of April, we hear from some in the industry that the business disruption, the slowdown in business, has had a direct impact on your liquidity and working capital.

We are working with many of you on cash flow optimization and working capital management that will be more critical than ever in the coming months.

At the same time we are carefully monitoring the federal stimulus packages that have been passed, the CARES Act, the most significant to date, to ensure that you are receiving all of the intended benefits to stimulate the economy and preserve your workforce.

At the end of the day, there's clearly no shortage of challenges with perhaps the greatest of all that of uncertainty.

We all have so many questions, large and small, with little if any history to guide us. We believe this is a prolonged uncertainty will test our assumptions, our structures and systems, and our people.

Success will be achieved by resilient organizations that can operate in this uncertain environment, agile enough to move quickly to address opportunities and seize them. and address losses.

Getting to the new normal is no longer a theoretical ideal but an organizational imperative. As we work through a variety of issues with our clients we continue to be impressed with the fortitude, their commitment to their people, and the thoughtful ways they continue to serve their clients investors, customers, and tenants.

We believe that from these unprecedented times we will merge stronger, wiser and smarter and more resilient personally and professionally.

We at KPMG don't take lightly the trust that you have placed in us to work shoulder-to-shoulder with you as you navigate these sometimes choppy regulatory and economic environment.

We know that our ability to attract and retain the best and brightest is directly attributable to the company we keep and we place tremendous value on each of our relationships with you.

I hope that you and your family find moments of joy throughout and that all stay safe and healthy. I look forward to speaking and seeing you again soon all the best.

 

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