Credit Suisse Transition Management ("CSTM") has been voted the number one Top Transition Manager in the Americas in the annual Global Investors ISF survey by over 350 pensions, consultants and asset owners and managers. In addition CSTM was rated the "Best in Class" for Execution in the Plan Sponsor 2010 Transition Management Survey.
This industry-wide recognition follows the January launch of CSTM's Extended Fiduciary Transition Management platform. This platform extends the ERISA fiduciary standard of care from the planning and risk management stages through the actual execution of all securities. By extending these protections to the actual execution, clients avoid the possible conflicts of interest that arise from principal trading by arms length, non-fiduciary broker/dealers.
"We launched this best-in-class platform in response to a growing demand from our global pension clients for a higher standard of fiduciary care. Our unprecedented success in two industry-wide surveys clearly illustrates the need and appetite for this approach," said Charlie Shaffer, Managing Director and the Global Co-Head for Credit Suisse Transition Management. "Particularly in these challenging times, clients are looking for ways to remove conflicts of interest from their managers and counterparties."
Historically, transition clients had to trust and hope that the execution broker/dealers acted in their best interest as none would act as fiduciary. By extending the fiduciary standard of care to execution, clients can now verify and ensure that the broker/dealers executing their trades have with the highest standard of care possible and have no possibility of profiting from principal transaction related with their transitions.
This categorically removes a potentially significant piece of execution risk and cost from their transitions.
Over 700 global pension plans ranked CSTM the number one Transition Management team in the Americas and the Top Rated execution counterparty in the world. These results recognize CSTM's proactive and client focused approach.
Source: Credit Suisse