Despite being a growing reservoir of funds under management, this critically important pool of capital is confronting mounting problems collating and disseminating key data in a timely manner.
The ratings house is pinning its growth strategy on a revamped methodology that increases the emphasis on governance to 25 per cent – a timely move considering APRA’s proposed reforms.
RBC hires Goodacre for coverage role
(pictured: David Goodacre)
RBC Investor & Treasury Services has recruited experienced salesperson David Goodacre into the new position of director of global client coverage. He left BNP Paribas Securities Services in April after 12 years with that firm.
Goodacre, who was most recently sales manager, Australia and New Zealand, at BNP will be working with former BNP colleague Steve Tremelling, the director of sales and distribution, who joined RBC in February 2014.
RBC sees the appointment as one that “strengthens its capability in Australia, underscores its commitment to the region and supports its strategy to provide best-in-class solutions”.
The custodian has had a good run of late, in a hectic period of tenders and transitions in the marketplace. Key mandate wins include Bennelong, Legg Mason, and the re-signing of its major client, Perpetual Investments.
It has also developed several new products including the recently released passive currency overlay service first developed for Perpetual.
Prior to BNP, Goodacre, who reports to chief executive David Travers, previously worked in transitions for BT and JP Morgan.
Club Plus custody contract
In other custody news reported last week, JP Morgan has won the $2.1 billion Club Plus super fund from NAB Asset Servicing after a review assisted by specialist consultant Patrick Liddy of MSI Group.
