CIPS Best in Procurement Most improved purchasing operation start-up

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Charlene Wilson
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The value of an investment and the income from it can fall as well as rise and you may

1 This document is solely for the use of professionals and is not for general public distribution. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. CIPS Best in Procurement Most improved purchasing operation start-up 22nd January 2015 Nykolas Bromley Head of Procurement

s core capabilities of Global Equities, European Equities, Global Fixed Income, Multi-Asset and Diversified Alternatives.

2 Business Context About Henderson Global Investors Henderson is a leading independent global asset management firm. The company provides its institutional, retail and high net worth clients access to skilled investment professionals representing a broad range of asset classes, focusing on the firm s core capabilities of Global Equities, European Equities, Global Fixed Income, Multi-Asset and Diversified Alternatives. Established in 1934 to administer the estates of Alexander Henderson, the first Lord Faringdon. Henderson s principal place of business is in London and since December 2003, it has been listed on the London Stock Exchange and Australian Securities Exchange appearing in the FTSE 250 and S&P/ASX 100 indices. 1

3 The Case for Procurement Why set up a Greenfield function? Following the acquisition of New Star Asset Management in 2009 and Gartmore Group in 2011, Henderson s annual third party spend had grown to over 120m. At this time, procurement was conducted informally through the individual business areas rather than through a centralised procurement function. As the business grew, the Board recognised the need for an increased focus on procurement in order to deliver greater value, whilst improving controls and risk mitigation. A specialist consulting company were engaged to review the approach to procurement across the business, carry out opportunity analysis, and support in hiring a Head of Procurement in April

Aims & Objectives Deliverables over 3 years

and governance; and Select and implement

4 Aims & Objectives Deliverables over 3 years Deliver 4.8m of savings and other benefits; Establish and embed procurement processes, including policies and governance; and Select and implement appropriate systems to improve efficiency and control of the procurement process within the business. 3

5 Year 1 (April-Dec 2012) Early Success Focus was given to categories such as travel, recruitment, mobile telecoms and office supplies. This strategy helped the business save 500k within the first three months and generated a great deal of positivity around the new function. Opened the door to Procurement involvement in more complex financial services-oriented projects. Hired the team s first graduate trainee and sponsored him towards achieving CIPS qualifications. 4

Year 2 (2013) Structure and Processes The Group

change projects An additional permanent member of

6 Year 2 (2013) Structure and Processes The Group Procurement Policy was launched by our CFO The supplier due diligence process was formalised Procurement involvement in two major business change projects An additional permanent member of the team was taken on to help manage the increased workload 5

engagement with international offices to leverage

7 Year 3 (2014) Growth and Globalisation Selection and design phase of a new Purchase-to-Pay system Greater engagement with international offices to leverage global opportunities Procurement skills training for stakeholders 6

8 Any Questions? 7

9 Henderson Global Investors 201 Bishopsgate, London EC2M 3AE Tel: Fax: Important information This document is intended solely for the use of professionals, defined as Eligible Counterparties or Professional Clients, and is not for general public distribution. Past performance is not a guide to future performance. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Tax assumptions and reliefs depend upon an investor s particular circumstances and may change if those circumstances or the law change. If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially. Nothing in this document is intended to or should be construed as advice. This document is not a recommendation to sell or purchase any investment. It does not form part of any contract for the sale or purchase of any investment. Any investment application will be made solely on the basis of the information contained in the Prospectus (including all relevant covering documents), which will contain investment restrictions. This document is intended as a summary only and potential investors must read the prospectus, and where relevant, the key investor information document before investing. Issued in the UK by Henderson Global Investors. Henderson Global Investors is the name under which Henderson Global Investors Limited (reg. no ), Henderson Fund Management Limited (reg. no ), Henderson Investment Funds Limited (reg. no ), Henderson Investment Management Limited (reg. no ), Henderson Alternative Investment Advisor Limited (reg. no ), Henderson Equity Partners Limited (reg. no ), Gartmore Investment Limited (reg. no ), (each incorporated and registered in England and Wales with registered office at 201 Bishopsgate, London EC2M 3AE) are authorised and regulated by the Financial Conduct Authority to provide investment products and services. Telephone calls may be recorded and monitored. Ref: 34S Reference 8

Demonstrating Suitability in Investment Advice Current issues and potential solutions. An evolving approach, interpretation or realisation?

This document is solely for the use of professionals and is not for general public distribution Demonstrating Suitability in Investment Advice A product provider perspective Stewart Cazier Managing Director