HSBC's Stephenson: Europe, Asia Take Different Approaches to Outsourcing
Outsourcing can significantly minimize costs for European asset managers, but the situation is rather different in the east, where Stephenson believes that investing in new technology and personnel is key.
"Undoubtedly, entering a new market where you don't have the brick-and-mortars is expensive," he says, "but if you have a partner─a supplier─who can service you in those markets, then you will minimize costs."
Stephenson acknowledges there's been a shift of wealth to the Asia-Pac region in
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