Credit Suisse has boosted its transition management (TM) capabilities in the Asia-Pacific region with the hire of Tom Wyse from Deutsche Bank.
Wyse, who started in the post in Sydney last week, has the job of continuing to build Credit Suisse's TM business throughout the region with a focus on sovereign wealth funds and institutional superannuation/pension funds.
He reports to Sydney-based David Baker, head of portfolio and electronic execution services, and Charles Shaffer, global head of TM in New York. In the Sydney office, Wyse and Baker focus on TM sales, while their colleagues on the trading side are Andrew Bruce and Michael Goodman.
Wyse worked in Deutsche Bank's portfolio trading and transition management team in Sydney from 2007 to February this year. He covered domestic institutional superannuation funds and portfolio sales trading for index and quantitative fund managers. Before that, Wyse worked at AMP Capital for five years.
He says clients require increasingly more transparency in terms of implicit and explicit costs. As a result, the TM area is becoming more sophisticated. As volatility subsides, confidence has started to return, adds Wyse.
"Fund managers are taking a second look at their portfolio construction and considering shifting positions," he says. "That presents opportunities to add value for our clients."
Other firms offering TM, such as Bank of New York Mellon and State Street, also see increased demand for such services this year.