The industry estimates the cost of compliance will be between $20 -$50 USD per investor, for a medium sized bank this will equate to $150-$200 USD million. Banks will have to apportion a large chunk of their budgets to be FATCA compliant and given the current cost constrained environment there are a number of institutions that will opt out and cease from dealing with US clients and assets.
The key challenge facing the financial institutions is how to best allocate limited resources for FATCA implementation given the rule making is ongoing, timelines are tight and the definitions are ambiguous and sometimes contradictory.
Crossbridge were able to understand my requirement and place a senior interim manager on the ground within a weekGlobal Head Credit and Futures IT, Global Investment Bank.
Crossbridge always bring relevant subject matter expertise and a robust process to ensure deliverables are produced on time and to budgetHead of Change Management Operations, UK Investment Bank.
Crossbridge was able to maintain excellent stakeholder relations while navigating a complex organisational structure during a period of significant changeGlobal Head Post Trade Securities, Global Investment Bank.
Their business model is not trying to land a beach-head and ramp up junior staff… I like them as a possible smaller firm option to Big-4 EMEA CIO, Leading Tier 1 US Investment Bank
Crossbridge were comfortable dealing at all levels,
helping my staff achieve their potential and delivering to time and budgetGeneral Manager European Systems and Operations, Leading Japanese Investment Bank
Crossbridge provide content rich consultants who understand my business and the way firms workGlobal Head of Custody Technology, Global Investment Bank
Crossbridge bring deep technical/process skills with a Financial markets twistGlobal Head of Custody Technology, Global Investment Bank
Crossbridge make transformation a key part of the project delivery frameworkGlobal Head of Custody Technology, Global Investment Bank
Crossbridge provide a friendly and supportive team who make you feel part of the familyCrossbridge Consultant
Crossbridge provide exciting and challenging roles that build on your experienceCrossbridge Consultant
Crossbridge promote an enthusiasm to get involved
in the growth and development of the company through active contactCrossbridge Consultant
Crossbridge provide a wealth of financial experience and technical expertise, coupled with excellent people skills and a can do approachCrossbridge Consultant
I believe Crossbridge are genuinely interested in finding a good fit between client and consultant and will match appropriatelyCrossbridge Consultant
In my opinion, Crossbridge consultants are very experienced industry and consultant practitioners who apply practical solutions to meeting client needsCrossbridge Consultant