Steve Webster
Transition and trading solutions
Director
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Steve heads up the Investment solutions business within Investment advisory. Steve provides solutions for our clients in transitioning their investments. This involves analysing the costs and approach, advising on implementation, risk management, governance and reporting.
Experience
Steve formally managed the transition management businesses at JP Morgan, ABN Amro, Credit Suisse and latterly State Street up until 2016.
Qualifications
Expertise
Transition management planning and strategy
Transition management advisory and oversight
Transition management and transaction cost advice
Outsourced trading advice and search
Recent client work
- provided transition implementation for a UK LGPS moving from global listed assets to global multi asset credit
- provided transition manager selection, oversight and reporting for a €5bn transition of emerging market equities for a Dutch fiduciary manager
- provided transition implementation strategy and cost verification for a UK Insurer restructuring their DC funds asset allocation
- provided forensic post transition event analysis of $1bn active equity transition for a UK LGPS Pool Operator
- provided transition advisory, cost analysis and reporting to a UK LGPS Pool Operator making manager changes to their funds
In Alternative investing, dry powder refers to the committed but undrawn value of capital, which also must be ready for engagement. In 2020, estimated dry powder commitments reached $2.5trillion which is roughly 30% of the total value in private equity, private debt and real assets (the close-ended fund type) combined.
Regulatory, market and financial pressures continue to erode transitional asset management industry margins. These pressures have promoted many to consider how their businesses are structured and which functions remain core and which can be outsourced. We review the background to these pressures and considers the arguments to outsource an Investment Manager’s trading capabilities.
service snapshot
Transition management – an overview
Our transition services provide the tools and resources to ensure that transition events are executed smoothly and uncostly. Our core belief is that the best outcomes stem from an honest, unconflicted and customised approach. RE BYiQLUBzALnkfQXlXiwT LKVhnr
webinar
The costs of investment transition – hit or miss? Co-hosted with Blue Sky Group
Steve Webster hosts a webinar with Blue Sky Group to discuss: global transition manager performance, what drives transition performance, why do transition results matter and were do transition managers make a difference.
Roundtable: Trends in transition management
“Leading figures of the TM industry met in London to discuss improving transparency, the impact of Mifid and plans for the future.”
