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.
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:
Bridgewater Media Relations
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SOURCE Bridgewater Associates