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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 or take on principal positions against our clients.

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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 a Practice Lead within the Transition Management and Overlay Services group of Northern Trust Securities Inc. Ben communicates with the consultant community on the transition management product and works with clients to understand their goals and devise the optimal strategy to achieve them.

Prior to joining Northern Trust, Ben spent four years in the institutional brokerage industry.

He received his B.S. degree from Texas Christian University and is NASD registered Series-7 and Series-63.

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.

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.