Ms Taylor will bring to the position two decades of board experience, including as Chair of remuneration and nomination committees, as well as a varied executive career at customer-centric industries, including CEO at Deakin Health and Sports Centre (since acquired by Fitness First) and Global Director, People and Culture for SMS Management and Technology (now part of NRI).

As a BA (business) graduate from the University of Canberra, with an MBA from the University of New England, a Graduate Diploma in Adult Education and as a graduate of the Australian Institute of Company Directors, her board experience spans ASX listed, commercial and government organisations, and not-for-profits.

Currently, Ms Taylor is a director of Western Leisure Services – it manages major recreational facilities – Apollo League (it assists SMEs find capital and leaders), and We Make A Difference (a subscription member benefits platform) and is a mentor with Leadership Victoria.  She was previously on the board of the International Women’s Development Agency.

Raiz Chairman, Harvey Kalman, says: “We welcome the appointment of Philippa who brings with her a wealth of experience in workforce and executive governance, organisational culture and engagement with fast-growing companies with global operations.

“Having also held senior roles in financial and professional services organisations overseeing corporate growth, including restructuring, refinancing, rapid expansion and contraction, and merger opportunities, she will certainly add to Raiz’s skill set at a board level during a period when we are aiming to rapidly grow the Australian and Southeast Asian operations.”

Ms Taylor says: “It’s a privilege to be asked to join the board of a fintech that has achieved so many milestones in its seven-year history. Funds under Management (FUM) exceeding $1 billion, acquisitions, expansion into Southeast Asia, are all notable achievements for an organisation that has a clear strategic direction and is implementing it.

“I am confident my skill set and experiences, including overseeing significant and varied COVID-19 impacts to operations, cash flow and profitability and strong financial literacy, will enable me to make an important contribution to Raiz at this period in its growth.”

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Mr. Grimshaw, who has a 35-year career in financial services, will also be expected to be the Chair of the Audit and Risk Committee.

His most recent position was CEO and Director of EZCORP Inc, a Nasdaq-listed company that he joined in November 2014 as Executive Chair. Before joining EZCORP, he was Managing Director and Chief Executive Officer of the Bank of Queensland.

Over his career, Mr. Grimshaw, who graduated with a Bachelor of Commerce and Administration from Victoria University in Wellington, New Zealand, and has an MBA from Melbourne University, has held senior executive roles at several international banking and finance companies.

A former Olympian who represented New Zealand in hockey at the 1984 Games, he has also served as non-Executive Chair of Cash Converters International Ltd and as a Director on Suncorp Ltd.

Raiz Chair Harvey Kalman says: “Stuart brings a wide array of capital market and financial services experience, both as a senior executive and director, to the Board. The fact that EZCORP’s operations had a significant presence in Latin America brings an added skill set at a time we are consolidating our Indonesian and Malaysia operations and are poised to enter the Thai market”.

Mr. Grimshaw says: “Raiz is a great success story among the wealth management fintech start-ups in Australia. Not only has it established a firm foothold in the Australian market but has had the vision to take its micro saving and investing model to the growth markets of Southeast Asia.

“I believe my experience accrued through many varied positions in financial services entities, and geographies, over the past 35 years equip me to make an important contribution to the company.”

Mr Grimshaw will replace David Gordon on the board of Raiz Invest Limited on 1 December 2021.  David was instrumental in founding and guiding Instreet Investment Limited with George Lucas in 2007, which in 2018 was restructured into Raiz Invest Limited.

“We cannot thank David enough for his service to the Company over the last 14 years”,  Mr Kalman added.

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HGO is a UK based Company that has recently listed on Euronext Growth Paris following a successful private placement offering.

HGO is a new client for Equity Trustees, a 132-year-old Australian trustee business now providing independent fund governance services in both Ireland and the UK.

HGO stems from Hamilton Ventures, a Merchant Banking boutique founded by Sir Peter Edward Middleton and Gustavo Perrotta in 2009 in response to valuation-driven growth capital opportunities post the financial crisis.

“We’re delighted to have been chosen by Hamilton Global Opportunities PLC and partner with them on the development of this exciting offering,” said Kevin Lavery, CEO, Equity Trustees Fund Services (Ireland).

“Equity Trustees continues to grow its presence in Europe through its UCITS and AIFMD offering, allowing clients to focus on their core skillsets”.

HGO will invest in sustainable opportunities arising from direct access into growth stage companies in Tech, Fintech and Medtech with a primary focus on Silicon Valley and Israel.

“Equity Trustees have demonstrated a true partnership approach throughout the process. Their support, flexibility, knowledge and experience simplified the process and enabled us to focus on developing the strategy and interacting with our shareholders”, said Gustavo Perrotta, CEO and Founder, Hamilton Global Opportunities PLC.

“Equity Trustees is the leading provider of trustee and fund governance services in Australia with funds under administration and management of more than AUD $100b, acting as fiduciary for nearly 300 funds and 100 investment managers,” said Harvey Kalman, Managing Director UK and Europe & Global Head of Business Development Fund Services, Equity Trustees.

“Our European offices are continuing to strengthen by providing our clients with a trusted partner in both the UK and Ireland,” concluded Mr Kalman.

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The Fund was launched on the Equity Trustees’ Irish domiciled UCITS ‘Gateway’ platform and is now open to investors.

Gate Capital is a new client for Equity Trustees, a 132-year-old Australian trustee business now providing independent fund governance services in both the UK and Ireland.

The Written Fund (a covered option writing fund), aims to achieve medium to long-term capital appreciation by investing in equities and pursuing an active Equity Option writing strategy.

“We’re pleased to have been chosen by Gate Capital to partner with them on the development of this exciting fund offering,” said Kevin Lavery, CEO, Equity Trustees Fund Services (Ireland).

“Our UCITS Gateway Platform continues to be a popular choice for Asset Managers looking for a turn-key solution to launching UCITS funds in Europe.”

FCA regulated Gate Capital Group provides a range of tailored investment strategies to investors seeking better risk-managed net returns through a combination of Equities, Bonds, Futures, Options and Alternative assets, to secure capital and seek above average returns.

“Equity Trustees have shown a true partnership approach throughout the launch project. Their commitment, knowledge and experience simplified the process and enabled us to focus on developing the strategy and interacting with our investors,” said Justin Jenk, Director, Gate Capital Group.

“Equity Trustees is the leading provider of trustee and fund governance services in Australia with funds under administration and management of more than AUD $100b, acting as fiduciary for nearly 300 funds and 100 investment managers,” said Harvey Kalman, Managing Director UK and Europe & Global Head of Business Development Fund Services, Equity Trustees.

“Our European offices are continuing to strengthen by providing our clients with a trusted partner in both the UK and Ireland,” concluded Mr Kalman.

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“Loftus Peak has been our client since 2016 when they launched the Loftus Peak Global Disruption Fund. Their success is underpinned by their willingness to explore new ways to attract investors. Structuring the Fund [ASX: LPGD] as a quoted fund provides distribution access to broker-directed clients – which in turn can mean access to the $730bn SMSF market,” said Harvey Kalman, Global Head of Business Development, Fund Services.

“We’re excited to be a part of this leading edge development because the new dual registry structure opens up a much larger retail market for our fund managers and offers a solution to overcoming the perennial issue in the listed investment vehicle market of units trading at discounts to the NTA,” Mr Kalman said.

Ensuring the fund was properly guided through the complexities of ASIC and ASX compliance processes efficiently was a critical precursor to its launch.

“As specialists in fund governance and compliance, we have been in a position to direct our expertise as a responsible entity (RE) to guide the fund through the checks and balances required by this innovative dual registry structure delivered by Mainstream Fund Services (Mainstream),” said Russell Beasley, Executive General Manager, Corporate Trustees Services (Australia).

“Our quoted fund solution ensures investors have the choice of investing through their broker or directly with the RE through our registry service, just like any other daily priced retail managed investment scheme. Once an investor owns units in the scheme, they are able to seamlessly convert from broker to issuer sponsored, and vice versa, as required.” said Nick Happell, CEO, Asia Pacific, Mainstream Fund Services.

A number of key considerations need to be explored by fund managers when planning the logistics of going to market with this new type of fund. This is where Equity Trustees’ Fund Services capability and two decades of experience as a RE enabled the process.

“Decisions which can make a difference include what market making arrangements are in place, which securities exchange the fund will be listed on, which service providers are selected to support the hybrid registry and the requirement for ensuring there are transparent pricing mechanisms in place at the time the fund launches,” explained Mr Beasley.

The Loftus Peak Global Distribution Fund is now listed on the ASX using the dual registry capabilities of Mainstream and included specialist legal advice from Baker McKenzie.

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Industry veteran Russell Beasley, who joined Equity Trustees in 2005 and took over leadership of the Australian Fund Services business in May 2019, has been promoted to Executive General Manager, Corporate Trustee Services – Australia.

Harvey Kalman, who established the Corporate Trustee Services business in Australia 20 years ago, and led the expansion of the business overseas, has been appointed Managing Director (UK and Europe) and Global Head of Business Development, Fund Services.

“Russell has more than four decades of experience in the Australian market, strong client relationships and significant expertise across the complex range of operational responsibilities required for an outstanding responsible entity business,” said Mick O’Brien, Managing Director, Equity Trustees.

“With Harvey’s commitment to attracting leading fund managers to Equity Trustees, we aim to make the most of the significant opportunity to grow our European business.

“We are confident this alignment of energy and expertise will ensure we make the most of the many opportunities available to us here and overseas,” Mr O’Brien concluded.

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Since being established in 2006 River and Mercantile Asset Management has evolved and broadened, with the assets under management of its parent Group now exceeding £40bn (A$88bn). The ACD performs the oversight function for the funds within the ICVC (Investment Company with Variable Capital), which has assets totalling more than £2.2bn (A$ 3.9bn).

This appointment builds on an existing relationship. In 2017 Equity Trustees was appointed as the Responsible Entity (RE) to the River and Mercantile Global High Alpha Fund in Australia, the first Australian registered unit trust developed by the London based investment manager. The ACD function in the UK is very similar to the RE role the company has in Australia.

“This is a significant appointment for our global Fund Services business,” said Mick O’Brien, Managing Director of Equity Trustees. “It is a credit to the expertise and competitive offering of our UK business to attract such a large-scale fund manager of the calibre of River and Mercantile. It is also confirmation of Equity Trustees’ strategy to leverage our trusted 130-year-old brand to expand our market leading Australian RE business offshore – opening up new opportunities for our existing clients in the process.”

Outsourcing to independent specialists to perform the role of corporate fiduciary is an increasing trend globally, according to Harvey Kalman, Global Head of Fund Services and Executive General Manager, Corporate and Trustee Services at Equity Trustees.

“It makes sense for fund managers to want to focus on managing clients’ money,” he said. “This appointment was a result of River and Mercantile making a decision to outsource their internal ACD to an independent provider, allowing them to focus on the investment management function. In Australia, we see a similar trend with internal RE functions being outsourced, so fund managers can focus on their core business.”

Equity Trustees recently established an additional office in Dublin earlier this year, strengthening the offering of ACD services to UK funds and Management Company Services to Irish and European funds, as well as it’s RE services to Australian funds.

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Harvey Kalman

Federation Asset Management (Federation) has appointed Australia’s market leading independent funds governance specialists, Equity Trustees, to act as trustee and responsible entity of the Federation Alternative Assets Trust.

Launching in September last year, the investment firm has their sights set on being on Asia-Pacific’s leading investor in renewable energy, health, education, real estate and companies with strong growth potential.

“As a new firm, with plans to invest in innovative growth areas, they need to put all their focus into building the investment strategy and the business and reaching out to investors that share their vision,” said Harvey Kalman, Executive General Manager, Corporate Trustee Services, Equity Trustees.

The fund targets three asset classes – private equity, real estate and renewable energy. Investors have the flexibility to invest within or across asset classes.

Since opening their doors in September 2018, Federation has seen strong interest from both domestic and offshore investors: “We bring together significant capability and experience in sourcing and managing investments in areas we believe in, as well as being smart investment choices,” said Cameron Brownjohn, Chief Executive Officer, Federation.

“Ultimately our vision is to use our skills and expertise to not only generate strong returns for our investors, but also help grow the production of clean energy, to build a better community and to improve the health, education and living conditions of future generations,” he said.

Mr Kalman concluded: “With 20 years’ experience, Equity Trustees takes care of the compliance and regulatory work, bringing an enhanced capability to ensure  the trust is launched smoothly and within the required legal and regulatory framework, so that investors who choose Federation can have the certainty that their investment is secure and appropriately supervised. We’re excited to be partnering with Federation and their vision.”

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Harvey Kalman

The listing on the ASX this morning of Neuberger Berman’s NB Global Corporate Income Trust (ASX:NBI) is another sign of the growing popularity of listed investment trust (LIT) structures, according to Australia’s leading specialist corporate fiduciary, Equity Trustees.

Equity Trustees is the responsible entity and issuer of the NB Global Corporate Income Trust’s A$413 million LIT.

The attractiveness of this particular LIT structure is that it aims to provide a regular income stream to investors while maintaining a strong emphasis on capital preservation. As the population ages and more move into retirement phase, this is an important factor when making investment choices.

Just as critical is ensuring the independent responsible entity and issuer has the reputation investors can trust.

“One of the benefits to investors of a LIT structure is the certainty it provides in respect of distributions – in this case paid in monthly installments,” said Harvey Kalman, Executive General Manager. Corporate Trustee Services, Equity Trustees.

“The reason we don’t see more of these kind of structures in the market is that they require a big commitment up front by a number of parties to establish. But given the keen investor and broker interest in this Trust and the IPO today, we’re confident there will be more to come.”

Neuberger Berman is one of the world’s leading private, independent, employee-owned asset management groups and manages more than US$300 billion in client assets (as at 30 June 2018) across a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds—on behalf of institutions, advisors and individual investors globally. It has been in Australia since 2007 and has 20 offices globally.

“Having established the trust, the task now is to take care of all the operational governance and compliance obligations while the investment manager, Neuberger Berman, focus on the investment strategy.

“Equity Trustees is an independent responsible entity, so investors and the investment manager are assured of efficient and effective service and oversight by the market leading provider,” Mr Kalman concluded.

Law firm Corrs acted for Neuberger Berman and Equity Trustees in a team that included Boardroom (unit registry), Pitcher Partners (tax adviser), PwC (scheme auditor and compliance plan auditor) and JP Morgan (custodian and fund administrator).

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Harvey Kalman

Equity Trustees has been appointed the responsible entity (RE) for the newly launched River and Mercantile Global High Alpha Fund.

London-based River and Mercantile Asset Management LLP is a new client for Equity Trustees, which now also has an office in London to service clients in the UK and Europe.

“We’re pleased to be chosen to support River and Mercantile to grow its presence in the Australian market,” said Harvey Kalman, Executive General Manager, Corporate Trustee and Fund Services, Equity Trustees.

The Fund aims to achieve capital growth by primarily through global equities identified as having a prospect of superior long term growth by River and Mercantile investment managers.
It already counts the legal community’s $3 billion+ superannuation fund, legalsuper, as its first investor, and is available to Institutional clients in Australia, including Trustees of superannuation funds, pooled super trusts, family offices, foundations and endowments.

Equity Trustees is pursuing growth in its  Fund Services business, meeting the market demand to provide service to fund managers  who have a global outlook – whether they originate overseas like River and Mercantile, or are Australian fund managers looking to export offerings in the UK and Europe.

“There is a real need for seamless independent RE services as fund managers grow and seek to operate across international borders,” said Mr Kalman.

“River and Mercantile can concentrate on their investment strategy confident the governance and administration details are in the hands of Australia’s leading independent RE provider with nearly 20 years’ experience – and now with capability based in London which means we bring an even better understanding of their business to the partnership.”

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