SULLIVAN

EST. 1989 · NYC

Proven investment operations expertise.

71 Sullivan is an independent consultancy partnering with asset managers, asset owners and consulting firms on middle and back-office change programs, from target-state design and platform selection through implementation.

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years in buy-side investment operations and consulting
25
in platform assets transformed
$1T+
strategic programs transforming back and middle-office operating models
20+
operational domains per program, spanning trading, IBOR, ABOR, performance and data
10+

Expertise

Partnering with client leadership, business teams, technology, vendors and consulting firms, from strategic decision through delivery.

Program Support and Resource Augmentation

Deep subject matter expertise, workstream leadership and project management for initiatives already underway. Interim coverage for critical business-as-usual functions, filling gaps left by turnover or adding bandwidth for project work outside day-to-day operations.

Operating Model Design

End-to-end target-state design of systems, resources and processes to optimize efficiency, internal controls, critical decision-making and financial outcomes.

Transformation Execution and Leadership

Delivering complex, multi-year transformation programs involving cross-functional global teams and changes to technology, workflows, sourcing decisions and data strategy.

Process Improvement

Understanding operational risks and their impacts, leading to informed decisions on technical solutions, process design, outsourcing opportunities and resource deployment.

Platform Evaluation and Selection

Broad understanding of vendor solutions across the middle and back office, including managed service, hybrid and full outsourcing models. Purposeful benchmarking of available platforms against detailed business requirements, leading to informed management decisions.

Outsourcing and Vendor Management

Design and implementation of large-scale lift-outs of critical functions, detailed vendor SLA and governance frameworks, and benchmarking analysis. Established relationships with best-in-breed service providers and a working knowledge of their offerings.

How I Work

Flexible ways to engage, directly or through a consulting partner.

Domain Expert on an In-Flight Program

Deep middle and back-office expertise added to an effort already underway, working alongside your team or your consulting partner.

Workstream or Project Lead

Ownership of a defined workstream, from requirements and design through testing, cutover and adoption.

Targeted Assessments

Vendor selection, operating model reviews and service-provider due diligence, delivered as focused, time-bound work.

Interim Operations Leadership

Experienced coverage for a critical seat during a search, a reorganization or a transition.

Consulting Firm Partnerships

Specialist support for consulting firms' client engagements, including under the firm's own brand.

Portfolio

Representative engagements, described by objective, scope and outcome. Client names are withheld. References and further detail are available on request.

Global asset manager

Middle-office operating model transformation

Objective
Redesign the middle-office operating model and transition key functions across multiple service providers.
Delivered
Target-state design with operations and technology leadership, a coordinated cross-vendor transition, process and workflow redesign, SLA development and change management.
Outcome
A multi-provider middle-office model with defined service levels and clear ownership between the firm and its providers.
  • Operating model
  • Service providers
  • Change management
Alternative asset manager

Trading and liquidity platform selection

Objective
Choose the right trading and liquidity management platforms and plan their implementation.
Delivered
Stakeholder interviews, requirements analysis, vendor evaluation and gap assessment.
Outcome
A clear platform recommendation, with a detailed roadmap and implementation plan for senior management.
  • Vendor selection
  • Front-to-middle office
Global asset manager

LIBOR transition

Objective
Move fixed income and derivatives operations to new reference rates.
Delivered
Leadership across operations and development teams, and system changes on two order management platforms.
Outcome
Operations and systems ready for the new reference rates across business units.
  • Charles River
  • Aladdin
  • Regulatory change
Alternative credit manager

Global follow-the-sun service model

Objective
Provide continuous middle and back-office coverage for a growing CLO and separately managed account business.
Delivered
A 24/5 operating model across three global regions, covering trade processing, loan administration, reconciliation, compliance and fund accounting, with SLA and performance metrics for every deliverable.
Outcome
Continuous production with measurable service levels, greater efficiency and lower cost.
  • CLOs
  • Outsourced services
  • SLA frameworks
Global equity manager

Operations automation and performance management

Objective
Increase speed, accuracy and scalability across trade processing, settlement, fund accounting, performance and regulatory reporting.
Delivered
Automation and process redesign, operational dashboards and KPI frameworks, service-provider SLA management and change management.
Outcome
Less manual effort, faster and more accurate processing, and clear accountability for performance targets.
  • Automation
  • KPI frameworks
  • Provider oversight

Who I Partner With

Consulting firms, investment managers and asset owners who need experienced operations expertise for a specific initiative or problem, often one already underway.

Clients and partners

  • Consulting firms that need deep investment operations expertise on client engagements
  • Asset managers, traditional and alternative, from boutiques to global firms
  • Asset owners running their own investment operations
  • Platform vendors and service providers onboarding buy-side clients

Moments

  • Replacing or consolidating an order management, accounting or data platform
  • Outsourcing the middle or back office, or changing providers
  • Growth, a merger or a new product line that the current model can't absorb
  • A regulatory or industry change that requires operational readiness
  • An initiative underway that needs added domain expertise or workstream leadership
  • A program that has stalled and needs experienced leadership
Platform Experience

Order management and trading

BlackRock Aladdin
Charles River

Investment accounting

Advent Geneva
InvestOne

Data and performance

Eagle
Markit EDM

Private markets and credit

eFront
Black Mountain Everest

About

71 Sullivan is the independent practice of Mark Shea.

I've spent 25 years in investment operations, on every side of the table. I've run operations for an asset manager, delivered outsourced services as a provider, led product strategy for a leading investment technology platform, and advised managers and asset owners through their largest changes.

That range is the point. I know what a target operating model looks like on a slide, and what it takes for a team to run it on a Monday morning.

Clients work directly with me, with no handoff to a junior team, and engagements can start quickly, either directly or through a consulting partner.

  • Citisoft2018–2025Principal Consultant
  • Cornerstone Capital Management2016–2018Head of Investment Operations and Finance
  • SS&C Technologies2013–2015Director, Alternatives Fund Accounting
  • Deutsche Bank2008–2013Director, Head of Alternative Fund Services, Americas
  • EarlierFIS (SunGard Alternative Investments), Spectrum Global Fund Administration, PricewaterhouseCoopers
Education

MBA, Finance, Columbia University

BS, Accounting, Marquette University

Certified Public Accountant (inactive)

Where it all began in 1989

Let's talk.

Whether you're staffing a client engagement or leading a change of your own, I'd welcome a conversation about what you're working on.

Email mark.shea@71sullivan.com
Based in Tucson, Arizona