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Transition Management


Manage Cost, Contain Risk, Maintain Value

Minimize the direct or indirect costs associated with the purchase or sale of securities.

To help you manage cost and risk when restructuring your investment portfolio, the Northern Trust team consults with you to create and execute a customized strategy. With experience and expertise gained since 1987, we offer you a distinctive and disciplined approach to transition management in all asset classes including: equities, fixed income, and derivatives.

Our Services:
  • Setting Transition Objectives – We consult with you to understand the context and objectives of your transition: overall allocation, benchmark and manager changes, timing concerns, and risk restrictions
  • Pre-Trade Analysis – The transition team completes a detailed analysis of the transition portfolios to identify risk characteristics, liquidity sources, projected costs and potential savings.  You receive a customized timeline, trading strategy, and cost projection
  • Trading and Settlement – The transition team will coordinate all aspects of your transition including legal documentation, trading, and settlement.  You receive daily progress reports as well as timely trade and performance data
  • Post-Trade Analysis – Clients receive detailed descriptions of key results: actual costs vs. pre-trade estimates, performance vs. various benchmarks, analytics of trade execution strategies, and an executive summary giving a high level overview of the assignment
Our Advantages:

Service: Provided at the Highest Level
  • Customized strategy and approach tailored to each event
  • Attention to detail with meticulous project management
  • Follow through including proxy voting and monitoring of cash balances
Expertise: Excellence in Risk Management
  • Building pro-active, risk-managed strategies
  • Outperformed the pre-trade estimate for 95.7% of transitions executed over the past 5 years
Integrity: Aligning Our Business Model with Your Interests
  • We do not:
  • Advertise transition trading activities to find crossing opportunities
  • Cross with hedge funds
  • Take on principal positions against our clients
Ben Jenkins

Ben Jenkins

Global Head of Transition Management
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Ben Jenkins

Ben Jenkins

Global Head of Transition Management

Ben Jenkins is Global Head of Transition Management at Northern Trust and a Senior Vice President. Ben is charged with business development and oversight of the transition management business and teams based in Americas, EMEA and Asia.

Ben joined Northern Trust in 2006 as a strategist and progressed to practice lead for US strategy within the Northern Trust Transition Management group. Prior to this, Ben spent four years with Capital Institutional Services, Inc. (CAPIS), an institutional broker-dealer, where he co-managed the transition management desk.

With more than 15 years of industry experience, 13 of which are in transition management, Ben holds 7, 63, and 24 FINRA licenses.

Investment Products and Services are:

Not FDIC INSURED; May lose value; No bank guarantee

1) Investment advisory services are offered by Northern Trust Investments, N.A., an investment advisor registered with the U.S. Securities and Exchange Commission and subsidiary of Northern Trust Corporation.

2) An investment advisor typically is deemed a fiduciary under the Employee Retirement Income Securities Act of 1974 and must act with strict honesty and candor solely in the interest of the participants of the plan.

3) Securities products and services including brokerage activities are offered and sold by Northern Trust Securities, Inc. (member FINRA (FINRA)/SIPC), a subsidiary of Northern Trust Corporation.

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© 2018 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability in the U.S. Products and services provided by subsidiaries of Northern Trust Corporation may vary in different markets and are offered in accordance with local regulation. For more information, read our legal and regulatory information about individual market offices.

Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, and personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company. This material is directed to professional clients only and is not intended for retail clients. For Asia-Pacific markets, it is directed to expert, institutional, professional and wholesale investors only and should not be relied upon by retail clients or investors. Issued in the United Kingdom by Northern Trust Global Investments Limited.