RBC Global Services made the Roll of Honor for Pre-Trade in the 2004 Transition Management Survey by the sister publication of Global Custodian, the Us pension fund publication Plan Sponsor.
“We are delighted to receive this honour,” says Fred Francis, vice-president, RBC Global Services. “Today’s plan sponsors are charged with executing an increasingly broad and complex set of responsibilities, all while demonstrating good governance. In addition, difficult market conditions are driving the need for plan sponsors to efficiently change portfolio structures and/or managers. More than ever, plan sponsors value transition managers who can step in to transparently manage costs and mitigate risk, which allows sponsors to focus time and resources on core responsibilities, without worry.”
The survey evaluated clients’ experience with transition managers in five categories – Organization, Pre-Trade, Execution, Post-Trade and Technology and Operations. Respondents were also asked to evaluate the effectiveness of importance of each category. Pre-Trade was cited as the most important, as the advisory role and cost estimates were seen as crucial elements to each transition.
Robert Kay, managing director of Global Securities Consulting Services added that “RBC’s unique consulting approach, which covers all aspects of the transition management process, has been well received by clients. Using ‘best of breed’ suppliers allows RBC clients to minimize all components of what might otherwise have been extensive costs. Client perceptions appear to value this objectivity and independence highly, helping RBC establish a leadership position in the Canadian market.”
Based upon analysis and commentary from 102 institutional investors worldwide and analysis of an RFP created by GSCS and Robert Kay, the survey measured client satisfaction and services performed by transition providers. Superior performance in both analyses qualified a provider for Roll of Honor status.
RBC Global Services continues to be ranked among the top service providers worldwide in client satisfaction surveys. The complete survey and results are available in the February issue of PLANSPONSOR.