While the change may appear subtle, the word "advisers" was confusing to many potential clients, said Barry Colvin, president of Tremont. "They come in and they dont understand exactly what role we have. I believe that a name should convey what youre doing and what role youre getting with your clients. We are less and less an adviser and more and more a capital manager."
Colvin expressed concern that Tremont was not getting fair consideration during the request for proposals process if potential clients thought the company was a consultant rather than a discretionary money manager. Too often, he said, even members of the press identify Tremont as "the hedge fund consultant."
The cost of the name change is nominal because the logo has not changed, as it includes only the word "Tremont" flanked by a bear and bull. "If we had major costs associated with it, Id think again," Colvin said.