Behind the Scenes with Mathew Kathayanat: From Engineering to Asset Servicing

Mathew Kathayanat (Mat Kat) joined BNY Mellon in Singapore last year to lead and manage the development of new Asset Servicing solutions and offerings across Asia-Pacific. He recently spoke with Behind the Scenes about how he keeps his career fresh and how he blazed his own path.

You've built a career in financial services on an unusual foundation--engineering. How did you get your start?

My first job was at Blue Star, one of India's leading engineering companies. I joined as a management trainee after earning my bachelor's degree in physics and MBA in marketing and systems. In five years at Blue Star, I worked across three regions, managed a branch, and gained practical experience in a companywide reengineering exercise.

I went on to work at one of India's largest banks, ICICI for a year. I was then recruited by Oracle's financial services software group. That job took me from India to Singapore. Then I was hired by Citigroup, where I worked for 10 years in Singapore and London. I came back to Singapore in 2014 and joined BNY Mellon last year.

Although I've stuck with asset servicing for the better part of my career, I've enjoyed having many different roles. It's important for me to keep my career interesting and I'm always open to trying something new.

Translating Engineering Skills to Asset Servicing

How do the skills you acquired in the engineering sphere inform what you do today?

Projects are the DNA of engineering and technology companies. You don't get far in these organizations unless you demonstrate the ability to execute large projects well. The transition was fairly easy, because what happens in the technology world is directly applicable in financial services.

There's a saying on the street that banks are like technology companies with banking licenses. That means that financial institutions rely on technology applications, and also depend on project management skills. There are a lot of similarities between the way engineering and financial institutions work - they both require investment in technology, huge teams, testing, and maintenance efforts.

What brought you to BNY Mellon?

BNY Mellon has been at the forefront of embracing the technological paradigm shift in the industry. I'm excited to be part of product management team in APAC and to seize the unique possibilities to build the future today - that's why I am here.

What is unique about the asset servicing industry in Asia?

Asset servicing is a competitive business with just a few players offering global custody services. Asia, specifically, is quite diverse -it consists of 16 distinct markets with different regulations and structures. It is not one size fits all. Therefore, thought leadership and expertise matter and are key areas of focus at BNY Mellon. It is important to ensure we are really plugged into the market experts and we give that expertise back to our clients. Providing insights is one way we consistently add value for our clients. We recently launched a white paper series, 'A Greater Gateway,' that traces and analyzes new opportunities in Asian markets, and it's helping to build our already-strong brand across Asia.

Career Advice: Communication is the Foundation

What career advice do you have for people who are just coming up through the organization?

Obviously, there is a layer of technical expertise required in any role, but many skills transcend our areas of specialization. Communication really matters. When I joined the work force, there was no email. You had to write a memo to reach a large part of your organization. People used to spend hours looking at content and language and editing meticulously before copying the memo and sending it out. Today, communication is much quicker, but the managerial skills involved in it haven't changed. You need analytical skills and the ability to look at changing situations and make recommendations and decisions.

It's great that BNY Mellon takes mentoring very seriously. To me, mentoring is ultimately about putting people in situations where they can perform better, sometimes in ways that are surprising. I read an interview with the movie director Francis Ford Coppola. He talked about casting Marlon Brando and Al Pacino in 'The Godfather' over the studio's objections. Brando was seen as difficult to work with; Pacino was an unknown. But Coppola saw something more in both actors. He believed in putting people in different situations to see how they would adapt, change, and come up with surprising ways of doing things. Mentoring can be like that.

My approach to management is to give clear guidelines and get out of the way. Managers shouldn't get into the weeds, fuss over minor details, and micromanage their employees. I also like the new school of thought about having your own personal board of directors whom you consult from time to time. We all have siblings, cousins, friends, and colleagues we can talk to. Mentoring is just a way of concentrating that time with one person.

I'm also a firm believer in changing course regularly. Three years is a good amount of time in one role. In the first year, you learn the ropes. In the second year, you knock the socks off. And in the third year, you repeat the performance of the second year and look for a new challenge, even if that is within the same company. This is a pattern I've repeated through my career. Working across industries, functions and geographies has given me a great appreciation for diversity and different approaches to doing things.