Thomas Murray on strategic partnership
From mebs & Thomas Murray present Thomas Murray Fund Solutions · · Mebs Luxembourg
“We have developed Thomas Murray Fund Solutions, which capitalizes on Thomas Murray's renowned technology platform SupplierSelect for financial services, combined with Any Business Solutions' compliance expertise and local knowledge, creating an extraordinary opportunity to resolve industry problems.”
On , Thomas Murray, Executive Vice President of Special Projects at SOMNIGROUP INTERNATIONAL INC, spoke about strategic partnership during mebs & Thomas Murray present Thomas Murray Fund Solutions on Mebs Luxembourg.
About Thomas Murray
In September 2022, Thomas Murray, Executive Vice President of Special Projects at Somnigroup, participated in the launch of Thomas Murray Fund Solutions, a joint venture with mebs. During a webinar, Murray described the venture as combining Thomas Murray's technology platform SupplierSelect with mebs' compliance expertise to address due diligence challenges in the financial services industry. He stated that the platform leverages over 20 years of data and questionnaires covering entities such as global custodians, CCPs, and transfer agents, and that it aims to help firms meet regulatory requirements, citing CSSF Circular 18/698 as an example of prescriptive oversight. Murray noted that the due diligence process often faces difficulties such as opaque responses from counterparties and claimed that the technology allows users to import previous responses to detect changes and adjust scores. He said the service costs between five and six thousand euros per service provider and that the initial focus is on Luxembourg, with inquiries from other jurisdictions including Ireland, Guernsey, and Switzerland. Murray also remarked that regulatory interest in due diligence is at an all-time high and that non-compliance could result in administrative fines or public naming by regulators.