UK – Following demand from institutions, Deutsche Asset Management UK has set up a team dedicated to transition management.
The Deutsche Transition Management Group was established in 2000 as a joint venture between Deutsche Asset Management and Deutsche Bank AG, where transition management was provided as a “side-offering” only by Deustche Asset Management in the UK.
Now the UK section of the group will have three individuals dedicated solely to the provision of transition management. They are: David Thomas, Kerry Wann and John Towner. Bob Guzman, also head of derivatives at DeAM, will head the group.
The decision to launch a dedicated service to transition management arose from “a gap in the market” says a DeAM spokesman. An increasing number of institutional investors are looking to change managers following changes in investment strategy resulting from the current volatile environment. The employment of a transition manager can minimise the risk in moving assets which can often discourages the investor.
Says Paul Berriman, DeAM’s UK chief executive: “The investment and pensions industries are going through challenging, but also very exciting, times, and I believe the Deutsche Transition Management Group can become a key service for clients seeking to minimise risk.”
Since it was set up in 2000, DTMG worldwide has completed around one trillion pounds (1.44 trillion euros) of transition business for global institutional clients. The dedicated group is based in London.