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Transition management: the naked truth
29 May 2012
Getting to the bare facts of a transition is painstaking work, but after recent incidents institutional investors funds are starting to unpeel the layers. Bob Campion reports
Like generals preparing for the last war, demands for financial reform all too often come in the wake of a scandal rather than with the foresight to prevent it happening. In the wake of the crisis, sector after sector of the financial system have been the subject to suspicion by investors and intrusion by the authorities; might it now be the turn of the transition management?
Following cases of questionable transition management practice hitting the headlines, transparency has certainly become the watchword of institutional investors and regulators as they sift through the evidence and plan their next moves.
The cases in question are unrelated but both revolve around fees, in particular whether clients were being 'double charged' and, if so, whether they were aware of it. It came to light in October last year that State Street Global Markets had overcharged two of its UK pension fund clients –...
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