Copying and distributing are prohibited without permission of the publisher
Transition management forced to change
30 September 2013
With high-profile exits and controversy, the transition management marketplace is undergoing change. Andrew
The transition management industry is in flux. With the total departure of Credit Suisse from the marketplace, the retrenchment of JPMorgan to Australia and Convergex to North America, plus rumours of further business closures and the hangover of high-profile legal issues – the industry finds itself on the back foot.
John Minderides, head of transition management at State Street, says the transition management industry has taken a “reputational hit” over the past few years, and adds that while some of the industry exits “were expected, some were surprising.”
For Minderides, the departures centred on firms where transition management was not seen as a core business. Transition management operates on low margins, so for companies where transition management is not a core business activity, “the increased scrutiny and overheads” of enhanced regulation and oversight meant “it was very difficult to sustain”.
“That is why some of the non-core businesses left. We are...
Access to this content is denied because you are not logged in. Please login to view this content
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Taking a free trial will give you access to the current issue for two weeks (excluding
some surveys and articles). Start your free trial today.