Milestone’s Sales and Trading Analysis & Reengineering Program (STARSM) is designed to assist the management teams of global Capital Markets businesses in assessing and responding to the challenges and constraints presented by the evolving global regulatory framework. It is constructed to address the following key requirements, individually or as a whole:

  • Provide management with an overall assessment of the impact of current and evolving global regulations on Capital Markets businesses’ ROE. This will include an assessment of the potential revenue impact of Dodd-Frank (including EMIR / MiFID where applicable) on the clients OTC Derivative execution businesses as a result of mandatory clearing and SEF execution and the impact to RWA of Basel 2, 2.5 and 3. This ROE assessment serves as the basis for determining the required changes to both the Target Business and Target Operating Model by:
    • Highlighting businesses with unviable future state ROE’s;
    • Identifying RWA mitigation opportunities;
    • Identifying opportunities to reduce direct and allocated costs.
  • Within the mandated conformance period, assist in the development of a comprehensive Volcker Rule Compliance Program.
  • Develop an Operations / Technology / Finance and Compliance remediation program that is conducive to satisfying the requirements imposed by Dodd Frank regulation in the U.S. and EMIR / MiFID regulation in Europe.
  • Develop a strategic business and operating model for clearing activities, including an appropriate pricing structure


Advisory services to support all aspects of post merger integration planning and implementation:

  • Business vision and strategy articulation
  • Program governance model and resource planning
  • Detailed pre change of control integration planning
  • Plan deployment and execution
  • Target post change of control operating model design and implementation
  • Program management office:
    • Program management office:
    • PMO tool deployment and management
    • Detailed workstream planning
    • Status reporting process
    • Budgeting and forecasting
    • Business KPI development and monitoring


The design and implementation of optimal Target Operating Models focusing on operations, technology and sourcing strategies:

  • Current state analysis:
    • Key business processes
    • Resource models
    • Critical and ancillary IT application architecture
  • "Pain Point" and "Quick Win" identification
  • Target process and application architecture design and implementation
  • Development and implementation of optimal sourcing strategies
  • Expense analysis and cost allocation
  • Multi-segment strategy
  • Business launch planning and execution
  • Client engagement model
  • Value proposition development


Designing and implementing an optimal cost / profitability reporting framework:

  • Assessment of current expense allocation methodology
  • Business-driven activity model design
  • Tailored allocation methodology and model requirements
  • Client hierarchy design and rationalization plan
  • Product and client intersection / dimensional design
  • Client and product profitability reporting
  • Technical solution installation and configuration


  • Implemented the STARSM Program for the Fixed Income, Commodities and Currencies businesses at a global bank. The multi-phase project included: 1. a current state analysis of the Rates business; 2. an impact analysis of Dodd-Frank Title VII on the client's derivatives franchise; 3. an impact analysis of global regulatory changes (e.g. Dodd-Frank, Basel 3) to specific client businesses.
  • Led the legal entity Integration Project Office and coordinated three external advisor firms for post-acquisition integration activities at a global diversified financial services institution following its acquisition of a U.S. headquartered global bank.
  • Led the Integration Project Office for the integration of two mortgage finance companies with a global diversified financial services institution. Additionally, assisted in the development of the future state target operating model.
  • Project management of a major initiative to bifurcate, value, and migrate approximately $39 billion in non-performing assets into a newly created Investment Manager (IM). Designed the interim and future state target operating models for the IM, including creation of business and support functions, design of IT architecture and operational processes surrounding daily P&L and client reporting.
  • For a U.S.-based Institutional Asset Manager, conducted the activity based analysis to provide a cost and profitability analytical capability across client, product, and channel dimensions.
  • Managed the development of a control framework surrounding the generation of fixed income portfolio asset cash flow projections used for scenario analysis (RMBS, CMBS, ABS, CDO’s, CMBS, Commercial and Residential Loans and other structured transactions).