Our FTF Exchange podcast with Henry Napier, a vice president with ICBC Financial Services, focuses on the new challenges impacting corporate actions processing.
A veteran of corporate actions processing, Henry Napier, vice president/corporate actions at Industrial and Commercial Bank of China FS LLC (ICBC Financial Services), says in an FTF Exchange podcast that he’s concerned about an uptick over the past two years in complex foreign deals that sometimes create havoc for corporate actions teams.
A case in point was a notable cash tender deal that involved government agencies among other officials that also brought up concerns about compliance, Napier says.
“There was an enormous amount of talk within the industry regarding this deal because it wasn’t just going to the agent to submit your instructions,” Napier says. “You had to go to the Israeli government to deal with the ministry department to submit your client’s instructions. They had to then come back to you to ask for the client, personal information … all these legal documents that typically would not be required if the shares are in the beneficial name of the firm. But, because of the complexity of these deals, that is what they’re requiring.”
The podcast also covers:
- Managing staff working remotely because of the pandemic;
- The ongoing uncertainties of 2021;
- Areas ripe for standardization;
- Third-party vendor partnerships that target CA processing;
- Why IT infrastructures must be optimized for corporate actions operations;
- ISO 20022 Messaging, iXBRL & other open-source technologies
- And A.I., machine learning, and other cutting-edge technologies.