A key architect of the compulsory retirement savings system lauds its many achievements, stretching from the national economy to the individual. Where it’s double faulting is in serving members – and it needs to be addressed promptly.
With performance and diversification driving demand, these funds are expected to experience four-fold global growth over the next decade to nearly $AU65 trillion.
Jonathan Green joins National as account management head
National Asset Servicing (NAS) has appointed Jonathan Green, the former general manager for investment implementation and operations at TCorp, to the role of head of account management within the sales and relationship team.
Green was also a member of the TCorp executive committee and investment committee and has more than 30 years’ experience in financial services, having worked across the private, public and not-for-profit sectors.
He is also a former custodian, having worked at BNP Paribas Securities Services and, before that, AMP’s Cogent which was acquired by BNP.
In this role at TCorp, Green was responsible for the investment implementation and operational activities that supported TCorp’s $90bn funds under management, including risk analytics, transition management, investment data integrity, manager operational due diligence, investment governance, fund operations and operating architecture. When it went to tender to amalgamate custodians last year, it was the largest custody tender in Australia and New Zealand history.
His first task is likely to be to oversee the transition from NAS’s Suncorp business to BNP Paribas, with Barry Dench, who was the senior account manager for that relationship, being redeployed within the group. That is scheduled to be completed by the middle of next year.
Ken Shaw, general manager of sales and account management, said, in welcoming him to his team: “Jonathan is a passionate advocate for the delivery of best-in-class solutions and service to clients. He has participated actively in working collaboratively with service providers and asset-owners to lift industry standards and promote awareness of the benefits of operational efficiencies. His learnings from large scale capability development and organisational transformation will support the deep engagement that we enjoy across our client base.”
John Comito, executive general manager, said: “We are pleased to have Jonathan as part of the team. He brings a wealth of experience and a global perspective to assist our business in developing our service offering. His experience in what is an increasingly sophisticated and rapidly evolving market segment demonstrates our commitment to continue to provide contemporary and market leading client solutions.”
Green starts his new job tomorrow (September 4).
– G.B.
