Transition revamp

The asset transition business is undergoing a major transformation, with strong risk management and pre-trade analysis capabilities becoming an increasingly important service differentiator. How are transition managers meeting the needs of Asian clients? Ben Marquand reports

Transition managers have had a tough year. Many of the major institutions that offered asset transmission services have stepped back from the market. Lehman Brothers, RBS and UBS have shut their entire global operations, while other major banks have trimmed their transition management business ambitions.

This has come at a time when the deterioration of liquidity in the funding markets in the third quarter of last year pushed up volatility and caused the number of transition management trades to