As part of its business expansion, Bank of New York hired Ken Temple as senior vice president of the BNY Global Transition Management unit. He will support BNY's growth by addressing the increased client base gained through the acquisition of Lynch, Jones and Ryan.
According to Temple, transition management presents him with a unique challenge. "Every transition is different -- it brings together a different mix of different managers, of different strategies, of different funding constraints," he says. "You somewhat start anew in providing a restructuring answer each time a transition comes down the line."
Temple's background in the practical application of portfolio theory includes his most recent position as director of portfolio trading at investment bank Dresdner Kleinwort Wasserstein. Temple will be based in New York, where he will report to Kal Bassily, managing director of BNY Global Transition Management.