Wendy Watson Email & Phone Number

Boston, Ma, Us

Boston, Ma, Us

Torronto, Canada Area

A Fraternal Benefits Society offering a range of financial services products in the US, Canada & the UK.

Greater Boston Area

Greater Boston Area

Ottawa, Canada Area

Provider of Financial services (financial advice& portfolio management/insurance/banking/estate & trust services) and practice management solutions (advice/technology solutions) to 76,000 Canadian physicians and their families.

Greater Boston Area

A $140 billion commercial bank holding company (subsidiary of Royal Bank of Scotland) with 1,500 branches in 12 states and 24,700 employees with head office of in Providence Rhode Island.

Toronto, Canada Area

Non Executive Director/ Chairman of Audit Committee of DAS Canada Insurance Company Ltd a start up which operates in a niche market providing legal expense protection to individuals and corporations. DAS Canada is a subsidary of DAS UK which is a subsidary of Munich Re.

Leading provider of financial services to institutional investors with $12 trillion in assets under custody, $1.4 trillion under management and 23,000 employees.; Established and led bank's global Cost Leadership Program reducing annual expenses by $800 million over 3 years.Developed and implemented a cross functional global operating model creating centers of excellence for high end customer-facing work and shared service utilities for other business process work.Established and managed shared service utilities in low cost offshore locations (India, Poland, China). Relocated approximately 5,000 jobs from high to low cost locations over 4 years.Negotiated a unique JV structure to deliver services in India at significantly lower cost than running captive facilities. Served as Chair of the Board of the India operating company and the Mauritius holding company (both included external directors). Actively managed the relationship with the partner to deliver service quality that significantly exceeded State Street standards.

Recently retired from State Street Corp where as EVP Global Services: led the company's initiative to advance all aspects of cost leadership worldwide reducing operating expenses by $800 million; and, defined the company's shared services and location strategies establishing large business process operations in India, China and Poland. In a prior postion: designed the company's global middle office outsourcing business; and, grew it to two trillion in assets serviced the largest such provider in the world.

General management role that included the design and implementation of the bank's strategy to start up a global middle office outsourcing business. State Street is now the largest provider of these services with $2 trillion in assets -almost 5 times the size of its closest competitor.Developed customized servicing solutions for asset managers seeking to outsource middle/back office functions. Developed a standard integrated global operating model and technology solution for middle office services and a strategy for integrating these with the manager's front and back office operations.Managed the bank's first middle/back office outsourcing client (PIMCO). Built operational and IT capability at sites in the US and globally that enabled PIMCO to trade in non-domestic locations; . PIMCO became State Street's largest and most strategic client with assets under management of $800 billion. Acquired and integrated global marquis client including AGI, Investec, AAAM , AXA and Gov't of Singapore.

Ran CIBC's global private banking and domestic trust business: $50 billion in assets; budgets of $100 million; 10 offshore locations; and, 800 employees globally.President & CEO of CIBC Finance Inc: repositioned and completed transactions on two of the Banks troubled lending businesses with assets of $8 billion; annual budgets of $100 million; and, staff of 1,000.

multinational Canadian bank with $350 billion in assets and 40,000 employees globally.

Promoted to broader general management role that required reinventing the business- $50 billion in assets, annual budgets of $100 million, 10 offshore offices and 800 employees. Developed and implemented a strategy for the domestic trust operation to retain the profitable deposit business and exit unprofitable ancillary businesses.Developed a strategy for the off shore trust and private banking businesses. This included: introducing a North American High Net Worth offer; growing the highest revenue offshore businesses; selling an unprofitable and high risk full service Swiss Private Bank; and, white labeling Swiss products through a third party.These strategies resulted in a gain on sale of over $50 million, a capital release of $75 million and, set the stage for revenues to double and annual expenses to decline by $50 million over the next three years.

Repositioned and completed transactions on two of the bank's troubled lending businesses (Retail Finance and Government Sponsored Student Loans) with assets of $8 billion, annual budget of $100 million and staff of 1,000.Introduced a Board/Committee (which included external directors) and governance structure to support the business. Built a highly effective and diverse management team. Developed vision, values and business objectives for company. Installed a new performance management and compensation program; and, retention programs to support the strategic alternatives for the businesses that resulted in zero turnovers in key positions. Took the businesses from an "unsatisfactory" internal audit rating to "effective".Developed and executed a strategy to exit the Sales Finance business through a combination of business/asset sales and liquidation of portfolios. Shareholder value was maximized and reputation risk minimized.Developed/executed strategy for Student Loan business through JV with world-class student loan provider. Created a best-in-class service bureau. Reduced operating costs by 26% and loan losses by 70 bsp. Quadrupled profitability

Reported to President of Personal and Commercial Bank. Member of the Bank's Executive Committee.Assessed risks and opportunities associated with the implementing the new retail branch strategy and recommended a more focused and speedy implementation in high payback markets.Led the Customer Satisfaction Task Force that drove fundamental changes to the bank's performance measurement system to focus employees on required improvements resulting in improved customer satisfaction ratings.Led bank-wide tax planning initiative that resulted in tax savings of $70 million over two years.Played a lead role in analyzing potential retail bank and insurance company acquisitions.

Reported to President and CEO. Responsible for consistent and effective technology strategy and implementation across worldwide organization as well as internal audit, security and administrative services. Budget of $50 million. Staff of 600. Was one of only four executives retained for a year post liquidation.Achieved annual cost savings of $20 million and staff reductions of 50% by restructuring IT services; introducing new controls for all IT projects and expenditures; re-negotiating contracts; and, rationalizing supplier arrangements.Developed an IT organization to support the new liquidation requirements including the need to migrate systems to purchasers. Built technology to facilitate the wind up of the company and meet the needs of each of its regulators. Served as company liaison with agents of Canadian, U.S. and the U.K. regulators. Serviced the businesses for U.S. regulator and Canadian liquidator at a time when one party was suing the other for $500 million.

Chief Information Officer and Head of Internal Audit for Confederation Life Insurance Company. In both roles, restructured and developed high performing organizations that saved costs while significantly enhancing the quality of staff to provide improved service. Also, was one of four executives who was retained for a year when the company went into liquidation - worked closely with the Canadian, US and UK regulators to ensure policy holders were fairly treated.

multinational life insurer with $19 billion in assets. Went into liquidation in 1994.

Provided full range of internal audit services worldwide. $3 million annual budget and professional staff of 30.Restructured company's global Internal Audit function to align with specific operational, geographic, credit and market risks facing the company. This required significantly increasing the level, quality and experience of staff.Led review of operating expenses across the company worldwide. Introduced controls over the use of consultants and outsourced all noncore services. Result was annual cost savings of 30%.Led an independent assessment of company's worldwide IT organization, operations, service delivery and costs. Brought $500,000 project in on time and 20% under budget -resulted in IT annual cost reductions of $5 million.

Rose rapidly from staff auditor through seven senior positions to Assistant Vice President Internal Audit- the second most senior person in a 70 person global internal audit function. Worked in Canada, US, UK, and Asia Pacific in insurance, mutal funds, investment and trust operations. Extensive experience in acquitions, alliances and joint ventures.

Rose rapidly from staff auditor through seven more senior positions to Assistant VP, Internal Audit - the second most senior position in a 70 person global internal audit function. Worked in Canada, US, UK and Asia Pacific in insurance, mutual funds, investment and trust operations. Extensive experience in acquisitions, alliances and JV's.

Certified General Accountant, Finance & Law

Bachelor Of Commerce, Major Accounting & Law

Graduated Magna cum Laude

Bachelor Of Commerce, Accounting