The bulging job portfolio of London-based securities services maven Terry McCaughey has just bulged a little further.
The European subsidiary of Interactive Technologies, New Jersey-based makers of the Advantage fee billing software, has appointed him as senior advisor. McCaughey will advise Interactive Technologies on matters of strategy and business development, initially in Europe.
McCaughey, who is still best known as the former Head of Global Investor Services at HSBC, has parlayed that experience into advisory jobs at Citisoft, Omgeo, Invest Northern Ireland and COR-FS Limited. He has also advised National Australia Bank (NAB). McCaughey is also a Director of the Securities and Investment Institute.
“Fee billing has always been a pet subject for me,” says McCaughey, apparently without irony. “From my experience, one of the major issues facing CEOs is getting reliable and accurate revenue information in the shortest possible time after month end. The difficulty in doing so has largely arisen from the plethora of differing fees structures being applied to the customer base by over anxious sales staff and the eventual inability of in-house developed systems to cope accordingly.
Advantage is the most comprehensive system I have seen in the market to date. It is widely regarded as the market leader and as such is used by an extremely large number of leading players in the financial services market. Furthermore, recent regulatory requirements demanding transparency in dealings with clients necessitate a comprehensive, accurate and open architecture in billing clients. Advantage does this admirably in a cost effective fashion. I very much look forward to working with Interactive Technologies.”
James Emson, CBE, Interactive Technologies’ European Managing Director, says he is expecting McCaughey to increase the client base in Europe, and develop Advantage’s functionality and scope.