CASE:

The specific project presented in this case study took place in the area of Fund Accounting which is part of Investor Services within Treasury Securities Services (TSS) in the UK. Investor Services has been recognized by Global Investor as the best Global Custodian Overall for 2004 and it has US $7.9 trillion in assets under custody. It has also been recognized by The Banker as the Global Securities Services House of the Year for 2004. Investor Services offers Fund Accounting on the back of the custody service. Fund Accounting calculates and delivers the value of funds' portfolios to fund managers, based on the amount and value of their asset holdings. This project was needed in order to streamline the valuation delivery to external clients, as the business had missed its delivery deadlines as committed in its Service Level Agreements (SLAs). One key client (which generated US $14 million in revenue in 2002) was highly unsatisfied about these missed deadlines, being a major project drive for the retention of this client. Therefore, this project was mandatory, with high management priority.

5.Based on the case provided, what were the main components in the implementation of Six Sigma in the company? To what do you attribute the results obtained? 6.What elements should be considered when implementing a quality philosophy such as Six Sigma in a service industry as compared to a manufacturing industry?