The Bank of New York was used by Fonds de Securité d’Existence des Ouvriers de la Construction, the employee benefits provider to the Belgian construction industry, to complete a global transition management exercise.
“The most important consideration when we undergo complex changes to our pension fund is to minimise the risk to the portfolio,” says Ann Devos, investment officer at Fonds de Securité d’Existence des Ouvriers de la Construction. “BNY Global Transition Management is an established and growing player with a proven track record in this field. It took a consultative approach to our restructuring and successfully guided us through the process at a reasonable cost.”
BNY Global Transition Management guided the company through a total restructuring of the asset allocation of its Euro 400 million pension fund and provided a combination of project and risk management. During the restructuring, Fonds de Securité benefited from the expertise of BNY Global Transition Management’s team of professionals and the execution capabilities of BNY Securities Group in global bonds, equities and foreign exchange.
“Since extending our transition management service to European-based clients last year, we have witnessed an increased demand among pension funds for experienced managers capable of understanding the particular nuances of fund portfolios,” says Alex Johnstone, vice president and European Product Manager at BNY Global Transition Management. “As the industry develops, we expect our focus on risk control and price transparency to continue to be a differentiating factor for clients.”
BNY Global Transition Management is a division of BNY Brokerage Inc.