Daiwa Securities

Daiwa Securities SMBC Europe Limited ("Daiwa") is a wholly owned subsidiary of Daiwa Securities SMBC Co. Ltd., an investment banking joint venture, which is 60 percent owned by Daiwa Securities Group Inc. and 40 percent by Sumitomo Mitsui Banking Corporation. Its five divisions cover equity, fixed income, investment banking, derivatives, and mergers and acquisitions.

Andrew Asbury is managing director, joint head of the fixed income division. Since he joined in 2000, the company has seen significant expansion in its fixed income business. Twenty additional people have been hired, bringing employment in the fixed income division to 70.
Asbury sees client relationships as core to the growth of the business. "Our business is dependent on developing and maintaining long-lasting and fruitful client relationships," he explains. In order to successfully manage its expansion, Daiwa recognised that it needed a customer relationship management (CRM) system.

"In the rapidly moving capital markets business, we can't stop talking to a client just because a salesperson is out for the day," comments Asbury. "We needed a client relationship management system that would provide us with continuity and a seamless relationship with our clients." Unlike a lot of major banks in London, Daiwa did not want to spend time, money, and resources on developing an in-house, client/server-based CRM system. "Our experience was that in-house systems are very expensive, difficult to implement, and rarely work," says Asbury.
Under the direction of Graeme Muirhead, executive director, joint head of the technology development department, the technology division was given a mandate to source a CRM system. Criteria included low cost, global accessibility, low maintenance, and low risk. Furthermore, the investment bank required guarantees that it could get its data back if it parted ways with the CRM supplier.

"As a bank we are very conscious of cost-income ratios and have very tight cost controls," comments Muirhead. "As a technology division, we had enough on our plate without having to hire additional resources to implement, integrate, and maintain a complex, in-house CRM system. Furthermore, we wanted a system that we could easily integrate into existing information systems to provide a salesperson 'portal' for client information. Salesforce has been a great enabler for this concept, and we feel confident that we will be able to use it to add further value to the sales and trading teams' business goals in the future."


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