CASE STUDY Situation – Implementing lean investment management processes to reduce cost “There’s no advantage from operational cost cutting in this industry. Fees are fixed. You win through new customer acquisition.” This mantra was true in the early 1990s, when the COO was a college intern at a lean manufacturing plant. But now, investors want lower fees, and cost reduction is critical. Success requires continuous improvement to increase productivity and deliver ever-lower operating costs. The COO wanted to implement the lean management and process standardization she saw in her manufacturing internship. She would turn investment management operations into a knowledge work factory. Her internal operations consulting team struggled to visualize the avoidable 7 wastes targeted by l

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