STAMFORD, Conn. and
NEW YORK, Jan. 8, 2019 /PRNewswire/ -- Bridgewater
Associates ("Bridgewater"), a
global leader in institutional portfolio management, today
announced a strategic partnership with Genpact (NYSE: G), a global
professional services firm focused on delivering digital
transformation, to enhance and manage a suite of Bridgewater's corporate shared service
functions.
While contracting with partners for single functions is typical,
this approach is unique in that it will deliver a cohesive suite of
services including parts of HR, recruiting and finance processes
for Bridgewater. This will be
delivered through a process that will seamlessly connect these
disparate functions together through digital technologies and
customer experience design methods, resulting in an improved,
platinum-level experience for Bridgewater's employees and their customers.
This initiative is the latest innovative partnership model
introduced by Bridgewater in the
last six years. In 2012, Bridgewater's co-CEO Eileen Murray led a transformation of the firm's
middle- and back-offices in a partnership with Bank of New York
Mellon and Northern Trust. Lauded as a new industry standard, the
first of its kind "dual back-up" approach allows key firm processes
to be independently executed by two unrelated service providers,
enabling Bridgewater to provide
the highest level of asset safety and portfolio valuation accuracy
to its clients.
"We are constantly searching for ways to improve our business as
well as improve the experience for our clients and employees," said
Eileen Murray, co-CEO of
Bridgewater. "I am extremely
excited about this partnership with Genpact as I believe it will
allow us to harness the latest in process expertise, digital
innovation, and design thinking to connect our operations and
deliver optimal results."
"Bridgewater is always striving
for excellence," said David
McCormick, co-CEO of Bridgewater. "In order to maintain
our high standards and deliver excellence for our clients, it is
imperative we have the highest quality across all our business
functions. This partnership with Genpact will deliver that quality
comprehensively and seamlessly."
"We are thrilled to have been chosen by an iconic firm like
Bridgewater to be their strategic
digital transformation partner," said Tiger Tyagarajan, president
and CEO of Genpact. "The platform we have developed with
Bridgewater, using strategic
design and advanced digital technologies, we believe over time will
become a model for the broader financial services industry."
As part of this initiative, Genpact will be establishing a
digital hub on the site of Bridgewater's current offices at Harbor Point
in Stamford, CT and a number of
Bridgewater employees will become
employees of Genpact. Furthermore, as the digital hub establishes
itself, Genpact expects to serve additional clients, benefiting the
City of Stamford and the
State of Connecticut.
About Bridgewater Associates
Bridgewater Associates
is a global leader in institutional portfolio management with more
than $160 billion in assets under management. Bridgewater
Associates is known for being an industry-leading innovator, having
been the first firm to manage currency overlay strategies, the
first global inflation bond manager, one of the first managers to
separate alpha from beta and offer products based on each, and was
the first to advise the U.S. government on the creation of Treasury
Inflation-Protected Securities. Located in Westport, CT,
Bridgewater Associates manages portfolios for a wide array of
institutional clients globally, including public and corporate
pension funds, foreign governments and central banks, and
university endowments and charitable foundations.
About Genpact
Genpact (NYSE: G) is a global
professional services firm that makes business transformation real.
We drive digital-led innovation and digitally-enabled intelligent
operations for our clients, guided by our experience running
thousands of processes for hundreds of Global Fortune 500
companies. We think with design, dream in digital, and solve
problems with data and analytics. We obsess over operations and
focus on the details – all 87,000+ of us. From New York to New
Delhi and more than 20 countries in between, Genpact has the
end-to-end expertise to connect every dot, reimagine every process,
and reinvent companies' ways of working. Whatever it is, we'll be
there with you – putting data and digital to work to create bold,
lasting results – because transformation happens here. Get to know
us at Genpact.com and on LinkedIn, Twitter, YouTube, and
Facebook.
For more information:
Ryan Fitzgibbon
Bridgewater Media Relations
rfitzgibbon@prosek.com
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SOURCE Bridgewater Associates