Computershare: Committed To Service Quality
An Interview With Jay McHale, President, US Equity Services, Computershare
Computershare is known for service excellence and innovative solutions, delivering exceptional value and quality to clients and their stakeholders. In early November 2011, Computershare received notice of early termination of the antitrust review of its offer to purchase the Shareowner Services business from The Bank of New York Mellon Corporation, and the transaction is expected to close on or about January 1, 2012. Jay McHale has led Computershare’s US Equity Services division since 2007. Here he shares his thoughts on the latest developments at Computershare.
Let’s start with the acquisition of BNY Mellon Shareowner Services. What can you tell us?
First, everyone at Computershare is excited about the prospect of adding BNY Mellon Shareowner Services’ highly talented people to our organization. Their deep operational and industry experience will help us realize innovation in all parts of the business model. The acquisition will bring together two high-performance, world-class shareholder services providers and will offer clients and their shareholders the best of both organizations.
Now that we have received notice of early termination of the review under the Hart-Scott-Rodino Antitrust Improvements Act, the work needed to close the transaction is well underway.
Post-close, a Computershare and BNY Mellon Shareowner Services joint team consisting of senior, experienced worldwide staff will be solely dedicated to the integration – ensuring that current business operations and client services continue providing high quality, customer-focused service. This team will be responsible for planning and leading the integration process across all key areas of the business, starting by developing a full understanding of the BNY Mellon Shareowner Services business and culture.
We’ll be communicating frequently and fully with our clients as soon as we have information to share, and clients from both sides can rest assured that our first priority will be to ensure that our business continues to deliver high quality service levels without compromise.
Quality of service is a consistent focus at Computershare. Can you share your philosophy with us?
We focus on quality in two important ways: developing products and services that best meet our clients’ needs, and executing flawlessly in delivering those products and services.
We are always looking for new and innovative ways to enhance our service offerings. We strive to help our clients achieve their business objectives, and as their needs change we look to develop new solutions to support them – whether they are looking to control costs, raise capital, increase the shareholder vote or offer a DRP or ESPP. We provide a unique, custom solution set for each issuer we service, regardless of their size.
To help ensure top-quality service delivery, our staff is supported by robust processes, advanced technological tools, and a permanent infrastructure to drive quality. Our EVP of US Operations, Joe Spadaford, is a Master Six Sigma Black Belt and has created a strong quality culture throughout the organization. Every aspect of our operation is measured and monitored, resulting in quick turn around times, nearly 100 percent out-the-door accuracy, and first-call resolution in our communication centers.
What has been the effect of your quality efforts on shareholder satisfaction?
We strive to provide outstanding service to our clients’ shareholders, and based upon both internal and external measures, our team is doing a great job. Over the past few years, we have consistently scored above the industry average on independent
shareholder satisfaction surveys conducted by Group Five for both transaction processing and telephone service.
In addition, for the second time in three years, our communications centers have been awarded the NICE Customer Excellence & Satisfaction Award from NICE Systems. The award is granted by a special panel of industry leaders to companies that use creative and inventive techniques to enhance overall quality and business performance.
What are your clients saying about Computershare’s performance?
The response from our clients in 2011 has been amazing. We were especially pleased with the results of this year’s 2011 Shareholder Services Industry Satisfaction Report from Group Five, where we were rated the best in the industry for the accuracy of our work, the accuracy and timeliness of client reports, and for continually seeking to improve our services – proof that our clients recognize our focus on continuous improvement.
In fact, in this year’s survey, Computershare achieved a 91 percent overall satisfaction rate – the highest in the industry. We’re proud to be recognized for our excellent client service by a wide range of issuers. For example, we achieved 100 percent satisfaction rates for annual meeting services from both the largest issuers – those with more than 100,000 holders – as well as from smaller issuers with 1,000 to 5,000 holders.
As one of our clients put it in the survey comments, “Our client representative is one of the best in the business. He partners with us and is like one of our own. He and his team value customer service and integrity the same as we do.” That sums up the core of what we strive for at Computershare.
Those are certainly results to be proud of. Is there anything else you’d like to add?
As I’ve mentioned in earlier interviews with the Shareholder Service Optimizer, the single most important measure to us is recommendation rate. Do our clients think enough of the service we provide to recommend us to another issuer? We have watched
this percentage increase every year since 2007, and roughly nine out of ten of our clients would recommend us. In this year’s
Group Five report, we had the highest reported recommendation rate at 85 percent and we’re proud of that.
While these numbers are very satisfying, we always strive to do better. We want 100 percent satisfaction and recommendation
rates. This is why continuous quality enhancement will always be a top priority at Computershare.
To learn more about Computshare and to find out how Computershare’s best-in-class equity solutions can support your company’s objectives, contact us today at 888-404-6333 or visit www.computershare.com.