ACSA ramps up strategy and Board structure for 2017

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The Australian Custodial Services Association (ACSA), the peak industry body representing members of Australia’s custodial sector held its member event in Sydney last week, announcing a number of strategic initiatives and unveiling the 2017 ACSA Award recipients

Hosted by Citi, the event reported record numbers with over 50 members attending the first series of member events for 2017.

Highlighting the various changes in the Association, ACSA Chair David Knights announced a new structure of the ACSA Board and its working groups while updating on focus areas for each group.

“We are facing a period of significant operational change going forward,” Mr Knights said in his welcome address.

“The custodial industry is responsible for $3 trillion of assets under custody and administration, and the work that all of our members do is important in helping our own organisations, and our clients, navigate this environment successfully.”

“ACSA has been working with regulators and the broader industry to address these challenges and implement changes to improve the efficiency of Australia’s funds management sector.”

Announcing the Board level changes, Mr Knights named Andrew Gibson as the replacement for Martin Carpenter from Citi who has stepped down after seven years on the Board. Daryl Crich of BNP Paribas was named Treasurer, taking over the role from Gordon Little. Daniel Cheever from State Street was appointed as Deputy Chair of ACSA Board off the back of his holistic contribution to the association.

Custodians of the sector recognised

The evening also saw five outstanding members of the custody sector recognised by their peers with the presentation of the 2017 ACSA Awards.

Reflecting his tremendous contribution to the industry and his capacity as Chair of the industry from 2013 to 2015, David Braga, Head of Securities Services, Australia and New Zealand at BNP Paribas, was singled out for the Service to Industry Award.

David led significant uplift in the ACSA organisation, establishing board protocols, and unifying the industry around key regulatory reforms – APRA Stronger Super Reporting, OTC Reporting Regime, mFund Settlement Services and move to T+2 for settlements.

Other members to be recognised for contribution to Associations’ strategic priorities were:

Scott Oakland (J.P. Morgan) has been an active contributor in both the Corporate Actions and Operations Working groups for nearly 10 years. In late 2016, Scott took on the Chair role of the Operations Working Group where he has been instrumental in consulting with the ASX and regulators on the CHESS replacement system.

Mick Giddings (NAB) was nominated for his contribution to the members of ACSA and clients through his continued role as Chair of the Tax Working group. In this role, Mick has contributed significant time and energy on the AMIT implementation task force, and has been responsible for driving multiple submissions to government on AMIT, CIV’s, WHT and stapled securities.

Vera Markovski (BNP Paribas) was awarded for her significant contribution to the ACSA Tax Working Group for at least 7 ½ years and to the ACSA AMIT Implementation Group for the last 12 months.

Lastly, Stephen Coutts (J.P. Morgan) was recognised for effectively and diligently chairing the ACSA Regulatory Working Group throughout 2016. Stephen has played a pivotal role in consultations with ASIC, APRA and AUSTRAC and has been a strong advocate for ACSA and its members.

“The Awards acknowledge individuals who are recognised by their peers for their professionalism, knowledge and significant contribution to the industry. They make a real difference to the efficiency and reputation of the custody industry,” Mr Knights said.

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