Transition management forced to change

The transition management industry is in flux. With the total departure of Credit Suisse from the marketplace, the retrenchment of JPMorgan to Australia and Convergex to North America, plus rumours of further business closures and the hangover of high-profile legal issues - the industry finds itself on the back foot. John Minderides, head of transition management at State Street, says the transition management industry has taken a reputational hit over the past few years, and adds that while some of the industry exits were expected, some were surprising.