Circle of delegation
The subtle art of delegation.
How organisations work
[ONE]
Me: Hi Mary. could I pick your brains today about fee rebates under Mifid 2?
Mary: Hi Olly, the best person for fees & charges Qs would be either Matthew (Regs Team) or Mark (Legal), since they've followed MIFID II for a lot longer. M
Matthew is out of the office. Let’s try Mark. ROUND TWO
Me: Mark - Hi - I'm in IB legal - Mary gave me your name. i gather you're an expert on MiFID ii re fees and charges in AM?
Mark: Costs and charges? I'm not the expert! This is under the Investor Protection part of the program. That is run by Luke.
(Luke is out of the office.)
Me: Great, thanks. Luke seems to be out of the office - does he have a deputy?
Mark: Joan is the business analyst on the costs and charges work-stream ... If she isn’t, she'll point you in the right direction.
ROUND THREE
Me: Hi Joan - Mark tells me you're the business analyst on the costs and charges work-stream for MIFID 2? I'm really interested in getting the buy-side view of fee retrocessions and rebates in MIFID 2. Would you have a few minutes to discuss?
Joan: Can we do on Friday next week? Also, in advance is our call, can you give some more background on your question?
Me: Actually I was hoping to speak today. A 10 minute call - perhaps with someone in your team? - should help contextualise the question and may indeed answer it.
Joan: Sure. Speak to Andrea.
ROUND FOUR
Me: Andrea! Hi! we are investigating the MiFID 2 implications re inducements and conflicts of interest.
Joan tells me you're the subject matter expert on this. Would you have a moment to speak today?
Andrea: Hi Olly. In fact, I look after the cost and charges disclosures under MiFID II. Anthony looks after inducements. If you are referring to conflict of interest under inducements Anthony would look after that.[1]
ROUND FIVE
Me: Anthony! Hi! we are investigating the MiFID 2 implications re inducements and conflicts of interest as they relate to fee-sharing a arrangements. Andrea me that you're the subject matter expert on this! Would you have a moment to speak today?
Anthony: Hi. We have broken the MiFID 2 inducements workstream into two: non-monetary and monetary. I look after non-monetary. Monetary is Thomas.
ROUND SIX
Me: Thomas! Hi! we are investigating the MiFID 2 implications re inducements and conflicts of interest as they relate to fee-sharing a arrangements. Anthony tells me that you're the subject matter expert on this! Would you have a moment to speak today?
Thomas: have you tried Mary?
See also
- ↑ VOICE-OVER: I wasn't.