Transition management

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  1. Transition management keeps shrinking

    trueFewer providers are offering transition management services, reflecting changes in the U.S. defined benefit plan market that make it tougher to make money on the business.

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  1. Fort Worth Employees adds Northern Trust as a transition manager

    trueFort Worth (Texas) Employees' Retirement Fund added Northern Trust to its approved list of transition managers.

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  2. Merseyside hires 2 transition managers, retains two others

    trueMerseyside Pension Fund, Liverpool, England, hired Citigroup Global Markets and Nomura International as new transition managers.

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  3. BNY Mellon dumps transition management

    trueBank of New York Mellon is closing its beta and transition management business.

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  4. Ireland's NPRF terminates SSgA from passive equities after transition management fine

    trueNational Pensions Reserve Fund, Dublin, has terminated State Street Global Advisors Ireland from a passive equity allocation, a week after an affiliated part of the State Street group was fined for overcharging in its transitions management business.

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  5. 2013 drop portends transition management shift

    trueTransition managers' assets from U.S. pension funds declined 10% to 15% in 2013 as those clients managed more traditional investments internally, reduced the amount that's rebalanced, and increased their allocations to alternative investments.

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  6. State Street fined in U.K. for overcharging transition clients

    trueThe U.K.'s Financial Conduct Authority has fined State Street U.K. £22.9 million ($37.7 million) for deliberately overcharging six transition management clients between June 2010 and September 2011, to the sum of $20.2 million, according to an FCA statement.

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  7. Texas Prepaid Higher Education Tuition Board wants transition managers

    trueTexas Prepaid Higher Education Tuition Board, Austin, is searching for transition managers for its Texas Guaranteed Tuition Plan.

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  8. France's FRR hires 2 for ESG, adds 3 to transition manager roster

    trueFonds de Reserve pour les Retraites hired BNP Paribas Asset Management and Kleinwort Benson Investors to manage €150 million ($203 million) each in environmental, social and governance investments.

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  9. Merseyside Pension Fund looks for transition managers

    trueMerseyside Pension Fund, Liverpool, England, is searching for transition managers for the £5.8 billion ($9.3 billion) pension fund.

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  10. Texas Muni lassos Russell, Citi and BlackRock for transition management

    trueTexas Municipal Retirement System hired Russell Investments, Citi and BlackRock as transition managers.

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  11. Stanislaus County pension fund opens search for global custodian

    trueStanislaus County Employees' Retirement Association, Modesto, Calif., is searching for a global custodian, confirmed Kathy Herman, operations manager.

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  12. Exits change transition management landscape

    trueTransparency will be key to transition management service providers gaining business following the exit of two competitors.

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  13. Transition managers' exits have clients on lookout

    trueJ.P. Morgan Chase & Co. is closing its global transition management business and Credit Suisse Group is shutting its U.S. business, reflecting what consultants and others say is the difficulty of maintaining adequate profitability in an increasingly tight regulatory environment.

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