The London Borough of Ealing pension scheme has appointed BNY Global Transition Management as transition manager for assets totalling £550m.
The London Borough of Ealing pension scheme replaced two balanced mandates with three specialist mandates for both equity and fixed income following a review of all managers.
Nigel Watson, head of strategic finance at the London Borough of Ealing, said: “We appointed BNY Global Transition Management because of its experience and track record in managing multi-asset class transitions. These processes can be very time consuming and complex. We felt the transition went smoothly and was successfully completed to our satisfaction.”
BNY Global Transition Management is part of BNY ConvergEx Group.