The Street Online, October 3, 2011
T. Rowe Price, TIAA-CREF, MFS and John Hancock Mutual Funds have won top honors in this year's 9th Annual Fund Operations Awards, this year renamed the NOVAs - as in innovation. The NOVA Awards will be presented Thursday, October 6, 2011 at NICSA's General Membership Meeting and Best Practices Symposium in Boston.
The awards program is produced by Money Management Executive, a SourceMedia publication for executives in the asset management industry, in conjunction with co-sponsor NICSA, a not-for-profit trade association that provides educational programming and information for the operations sector of the global investment industry. The winners were selected by an independent panel of eight judges.
"This year, there have been a number of improvements to the program-most notably, the new, more memorable name," said Bruce Morris, Executive Vice President at SourceMedia and publisher of Money Management Executive. "The awards were renamed the 'NOVAs' to recognize the tremendous innovation in fund operations, as asset management companies embrace new technologies and strive to become more effective in serving their clients."
All nominations this year were limited to innovations made by individuals or teams at asset management firms. Service and technology providers were able to nominate asset managers that effectively used their products, in the course of producing their innovations.
Money Management Executive also expanded the program to include a fourth category, Creativity in Marketing Operations. The four NOVA categories are: Visionary Leadership, Innovation in Customer Experience, Innovation in Back-Office Efficiencies and Creativity in Marketing Operations.
Finally, this year, the sponsors selected only two winners in each of the four categories: Platinum and Gold.
Wayne O'Melia, President of T. Rowe Price Services, is this year's Visionary Leadership Platinum winner. Michael Quain, Chief Compliance Officer, and Victor Simon, Director of Operations at Artio Global Management are this year's Visionary Leadership Gold winners.
Innovation in Customer Experience
TIAA-CREF is this year's Innovation in Customer Experience Platinum winner. Primerica Shareholder Services is this year's Innovation in Customer Experience Gold winner.