ABN Amro Mellon chief questions value of consultants

Are consultants worth their salt? Marinus Maaskant of ABN AMRO Mellon shares his thought-provoking observations on custody consultants.

I hope you don't get me wrong. The few statements that I'll make here are only to stimulate discussion and not to offend. With that, Marinus Maaskant, chief executive officer of ABN Amro Mellon, launched into the sensitive topic of consultant services at a custody conference held in Hong Kong this week.

Living in an ideal world a consultant to clients on custodial services can investigate about six global custodians. If you put the information they gather from their investigations on the 'net, no potential client would need a consultant anymore. I think given all the RFPs request for proposals that we get, about 95% of the questions are similar questions...

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