Andrew Hovell

As a veteran of the triathlon circuit, one of the most important lessons that Andrew Hovell has learned is that proper preparation is the key to good performance He has done more than 50 events, including a half-iron man challenge, and although he is modest about his achievements he is proud of the progress he has made down the years.

As a starting point, he assesses not just what a client wants to do, but why they want to do it, before exploring how they can make the most of new technology to achieve their goals.

“When I first started I thought I would never complete the course because it is quite daunting. It takes a lot of discipline and you have to be focused, but it is good to challenge yourself and like most things in life if you go about things the right way you can achieve almost anything.”

Andy takes this approach to his work and believes that successful projects rely on good planning to ensure high quality delivery. It is based on 30 years of experience in capital markets operations and projects, managing global operation teams and, post-2008 financial crisis, a focus on compliance and delivering big projects for large organisations to ensure they meet their regulatory requirements.

Once regarded as leaders in technology, he believes banks’ willingness to invest waned after the financial crisis of 2008, but they now realise they have to catch up with the likes of Google, Amazon and Apple who are seen as the new technological pioneers.

Artificial intelligence and machine learning are driving change and used effectively bring enormous benefits such as cutting down manual processes, enhancing controls, improving fraud detection and strengthening compliance across all aspects of regulation.

“Technology can improve efficiency and ultimately provide a better service for customers, but before banks spend millions they should be clear about what they want to achieve.”

 “I love technology. I grew up in the 1980s, in the pre-internet age, when it was very basic, but now it is so powerful and allows us to do amazing things. One of the mistakes organisations often make is to put in new technology for its own sake, without thinking through how it can help them. Their aspirations have got to be clear from the start.”

The pace of change in technology and regulation is so rapid that new systems have to be designed to be flexible and sustainable so that they can adapt to changes within organisations and to the external environment. Like an endurance athlete, they have to be able to last the distance.

SUMMARY

Andrew Hovell, Managing Director 

Career

  • Principal Consultant at New Link Consulting
  • Head of European PMO and Market Initiatives at Standard Chartered Bank
  • Global Head of Capital Market Initiatives at BNP Paribas
  • Global Head Credit Middle Office at BNP Paribas
  • Manager of Flow Derivatives Middle Office at Deutsche Bank
  • Principal – Group Manager, Rates and Commodities Middle Office – Bank of America
  • Senior Treasury Manager – Royal Bank of Scotland, Capital Markets