The $300 billion profit-to-member fund has linked up with Oxford Properties for a portfolio of high-quality European industrial and logistics assets that it wants to expand significantly over the next three to five years.
Australia’s megafunds are looking to international asset owners for ideas on how to invest what will soon be trillions in retirement savings. But banks – with their sharp focus on efficient implementation and balance sheet management – could also be a source of inspiration.
Life after custody: Travers takes on top ‘regtech’ role
David Travers, a former veteran of senior management in asset servicing who left RBC mid-way through last year, has made a career change by taking on the role of chief executive of a ‘regtech’ business, Fourth Line. He joins Tony McDonald, a serial financial services entrepreneur and Fourth Line chairman, alongside several other well-healed directors.
Travers was the head of RBC Treasury & Investor Services for 10 years, overseeing Australia and New Zealand, and a former head of asset servicing for State Street in Australia and New Zealand, where he also spent almost 10 years. Before that he held senior roles at what became J.P. Morgan and the former Permanent Trustees.
Fourth Line is a ‘regtech’ (regulatory technology administration) company offering risk management and compliance systems for financial advice practices, dealer groups and other wealth management participants. The firm uses algorithmic approaches to simplify advice reviews for compliance teams to coach and develop “data driven insights from advanced analytics for advisor, practice/dealer group and industry benchmark comparisons”. It also offers centralised document storage and access for regulatory needs.
Travers, a former chair of the Australian Custodial Services Association, started on a contract basis with Fourth Line last year and became the firm’s managing director shortly before Christmas. Other Fourth Line directors are: Simon Quirk, a lawyer and other operations specialist, Mark Bland, another financial services lawyer, and Dan Hunter, an academic in computer science and law with a PhD from Cambridge University.
– G.B.
