SIZE OF FIRM:
WHO WAS YOUR MENTOR?
WHO INFLUENCED YOU THE MOST IN YOUR CAREER?
Someone else was Bridget Macaskill, CEO of Oppenheimer Funds. She created a vision for the company and got everyone behind the vision. She could stand in a group and motivate them, and she constantly sought out diverse opinions from others on the management team. That taught me the value of seeking diverse input, and it broadened me as manager.
WHAT WORK EXPERIENCE HAD THE MOST LASTING IMPRESSION ON YOUR CAREER?
The next big thing for Evergreen is to increase our focus and technical support on the pre-trade decision-making process. We need to provide portfolio managers with the tools to make better investments -- not just market data or research repositories, but actual technology, such as artificial intelligence, to help managers make investment decisions.
IT Budget:$37 million to $40 million annually, up from last year.
Key Technology Management:N/A
Size of Technology Team:185 full-time staff.
Percent of IT Projects Outsourced:25 percent of projects are with offshore providers.
Key Technology Partners:Charles River Management, DST, State Street, Odyssey Financial Technologies, Documentum.
Success Metrics:We do the basic stuff, such as tracking projects to budgets and schedules. In addition, we do post-project surveys on all projects, regardless of size. They're completed independent of our team to ensure impartiality.
TOP 3 CURRENT PROJECTS
Fixed-Income Trading SystemWe're replacing a legacy-trading platform with a system from Charles River Development to provide richer functionality and a more integrated and consistent process for executing trades. We'll roll it out to the various fixed-income areas throughout 2007.
Data WarehouseWe started construction of a data warehouse a couple of years ago, initially focused on reference data and a security master file. Now we have consolidated holdings and positions into the platform, and we're looking this year to add transactions as well as aggregate the information that exists there to provide a consolidated view for senior management.
Migration to New Accounting PlatformWe signed a deal last year to outsource certain functions of our operations to State Street and leverage its investment in technology, particularly around post-trade processing. The conversion is under way, and we'll continue for another year and a half. This gives us the ability to leverage State Street's technology platforms so we don't have to make a significant investment in ours to keep everything current.