The history of transition management at the Bank of New York goes back thirty years. From an operational point of view the bank has always been involved in transition management, from prior to the service being named when it was simply known as asset switching. We were involved with our custody clients helping them move their assets from one portfolio to another, with issues such as settlement, operations, and opening up accounts. This was the precursor to transition management. As we have grown the BNY Securities Group business through acquisitions there has been the addition of capabilities on the execution side. This infrastructure was being used...
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