Financial Services
Securing Tomorrow: A Strategic Approach to IT Security Transformation
Navigating Complexity in a Regulated Landscape
Based in Switzerland, PSquared Asset Management is an alternative asset manager that invests with a focussed approach based on fundamental primary research navigating the demands of institutional clients and evolving regulatory pressures. With no internal IT department, the firm relies on expert external support to manage its infrastructure and meet stringent compliance standards. Since engaging with Thrive (formerly Edge) in 2017, PSquared has benefited from a growing partnership that has adapted alongside the firm’s maturing IT needs.
Beyond Basic IT: A Cyber-Focused Strategy
The cyber threat landscape is always in flux, particularly for financial firms under increasing scrutiny from investors and regulators alike. For PSquared, staying ahead of these challenges requires a more robust approach to IT and cyber security. Their COO, Gary Penning, acknowledged the importance of this evolution, “It’s obviously a massively changing landscape every single year, and there are always new demands.”
Under Thrive, PSquared has seen an obvious expansion in the breadth of services available. From patch management and vulnerability scanning to incident response readiness and technology architecture reviews, the firm’s needs have outgrown their original, more straightforward support model. Thrive has stepped in with expert guidance and timely recommendations, aligning PSquared’s infrastructure with best practices in security and compliance.
A turning point came with the overhaul of PSquared’s service contract. Once a vague, high-level agreement became a detailed, regulatory-compliant document. The new contract provided clarity on deliverables and ensured full alignment with all applicable regulations. As Penning noted, “That was super important, from a regulatory standpoint, you had to have a contract going into that kind of depth.”
People Behind the Platform
The true strength of PSquared’s relationship with Thrive lies in the team supporting them. From the start, Thrive’s Account Manager, Client Success Manager, and virtual CIO (vCIO) have taken a consultative, partnership-driven approach, building lasting trust and acting as a true extension of PSquared’s business. Thrive’s Account Manager brings strategic oversight and ensures alignment with business goals, the Client Success Manager focuses on day-to-day satisfaction and smooth service delivery, and the vCIO provides expert guidance on IT strategy and long-term planning. Together, they offer both high-level insight and hands-on support. “Having somebody working for Thrive, but also representing PSquared, was a big gain,” said Penning.
Thrive’s Account Manager recognized that PSquared needed more than technical support; they needed a partner who could break down complex information into actionable insight. Thrive’s Advisory Services, specifically the vCIO, became both a translator of technical detail and a behind-the-scenes driver of strategic improvements. Frequent communication, whether through scheduled meetings, casual lunches, ad hoc calls, or industry events, has enabled the Thrive team to develop a deep, working knowledge of PSquared’s needs and culture.
This strong relationship is built on shared goals rather than sales agendas. “There has to be confidence on our side Thrive is going to recommend products and services right for our business, not just to make a sale,” said Penning. That trust is reinforced by regular technology business reviews aligned to the Center for Internet Security (CIS) framework, which ensures a consistent cycle of evaluation and improvement. Thrive proactively advises on secure, modern technologies and identifies opportunities to enhance infrastructure before issues arise.
Beyond day-to-day support, Thrive has helped PSquared strengthen their cybersecurity readiness. While the firm has not experienced a major incident, the existence of a formal incident response plan, and the ability to speak with a live security expert within minutes provides critical peace of mind. “It’s reassuring to have that in place. I’m more comfortable now,” said Penning.
Confidence at the Boardroom Table
The impact of this evolving partnership extends all the way to board-level confidence. As COO, Penning is responsible for reporting on the firm’s IT posture and service provider performance. “I’m at a point now where I am very comfortable with the current IT architecture and support, and I’m happy sharing that with the board. We cannot stand still though,” he shared. With greater transparency, regulatory alignment, proactive and responsive support, Thrive has become a partner PSquared can count on.
“We want our IT architecture challenged by Thrive on a regular basis. Cyber threats continue to evolve, and our systems and security must be able to face those challenges. Data security is vital.” – Gary Penning, COO, PSquared Asset Management
About Thrive
Thrive delivers global technology outsourcing for cybersecurity, Cloud, networking, and other complex IT requirements. Thrive’s NextGen platform enables customers to increase business efficiencies through standardization, scalability, and automation, delivering oversized technology returns on investment (ROI). They accomplish this with advisory services, vCISO, vCIO, consulting, project implementation, solution architects, and a best-in-class subscription-based technology platform. Thrive delivers exceptional high-touch service through its POD approach of subject matter experts and global 24x7x365 SOC, NOC, and centralized services teams. Learn more at www.thrivenextgen.com or follow us on LinkedIn.