Harvey Kalman

Equity Trustees’ Corporate Trustees Services (CTS) business has boosted its compliance and regulatory capability by dedicating expert professionals to support the business, ensuring it can meet the increasing demands placed on clients by an ever changing and increasingly stringent regulatory environment.

CTS has grown into Australia’s largest independent responsible entity (RE) service provider since it was established 17 years ago with just three clients, seven funds and $700m in funds under supervision. It now services more than 100 clients, 240 funds and over $50bn funds under supervision.

The business has maintained steady year on year growth, with FY16 results showing an 18.7% increase in funds under supervision over the previous year.

“We assist clients in meeting the demands of increasing regulatory requirements through comprehensive and meticulous attention to detail, while also tailoring practical solutions to meet specific individual client needs,” said Harvey Kalman, Executive General Manager, CTS.

The CTS team has set its sights on the expanding fund manager market in Asia, which requires Australian RE, trustee and corporate trustee services, as part of its continued evolution and development.

“Our clients recognise that appointing an independent responsible entity such as ourselves reflects frameworks used in overseas jurisdictions. The additional selling point for our clients is that funds that adopt a model which outsources the responsible entity to an independent fiduciary bypass the possibility that there is a conflict between the rights of unitholders and the investment manager of a fund, with the additional benefit of not having the associated regulatory and compliance costs that come with the RE function,” Mr Kalman explained.

Matt Kilbride (Senior Legal Counsel and Compliance, CTS) will lead the legal and compliance requirements for CTS, supported by legal counsel, Justin Evans, and a new appointment Luyen Tan (Senior Business Partner, Regulatory Affairs and Compliance), who was previously in the legal and compliance unit at Vanguard Investments Australia. Joanne Gander moves into the role of Senior Risk Manager, Operations and Oversight, and Alex Phiong has been promoted to Manager, Relationships & Oversights.

“Our clients can be assured that they are being looked after by one of the most credentialed and experienced specialist corporate trustee regulatory and compliance team in the business,” he concluded.

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