Wall Street Letter VOL. XLV, NO. 30 - Sept. 23, 2013 | Page 5

26 SEPTEMBER – 2 OCTOBER 2013

levels and approximately 21% will
keep their level of spending the same.
Michelle McDonough, managing
partner at Trillium Asset Management, said the results, though
preliminary, should serve as a
baseline for firms that they can use as
a benchmark to compare with their
own plans.
“We don’t have a lot of IT or
operations people, but we want to
make sure that we are spending our
resources appropriately,” she said.
Other preliminary results include
numbers indicating an increase in the
number of prime brokers firms are
using, McDonough said. While there
had been efforts in the last few years
to consolidate the number of intermediaries, those efforts have slowed
and the trend is moving in the other
direction, she added.
“After a significant decline in
consolidation, we are seeing people
open up a bit more and accepting
additional brokers and custodians
and counterparties,” she said. “People
backed off and tried to minimize the
number of custodians but the trend is
reversed and people are opening up
and taking advantage of getting new
business.”
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