Equity Trustees appoints US executive, partners in Ireland

Equity Trustees has made two international moves. The first will see a US-based Australian executive enter an international role; the second will see it partner with an administrator to launching an Irish fund platform.

In a bid to ease American fund managers' access to markets in Australia and Europe, former Westpac and BNP Paribas executive Rob Harrison has been appointed as Equity Trustees' "resource on the ground" in the US.

His job will be to connect US-based fund managers with Equity Trustees' expertise in offices in Australia and the UK to service funds launching into the European, UK, Australian and Asia Pacific markets.

Harrison has served as Westpac Investment Management's head of business development. He is an Australian citizen and has worked extensively in the US, where he is now a permanent resident.

Most recently he was BNP Paribas Investment Partners' regional head of North America.

Separately, the 130-year-old Equity Trustees has also scored a deal with Mainstream Group as the pair launch a new Irish fund platform, aimed at giving Aussie fundies easier access to European UCITS (Undertakings for Collective Investment in Transferable Securities Directive).

Equity Trustees will provide UCITS management company services to the Mainstream UCITS ICAV.

The Irish fund announcement builds on a 12-year partnership between the two companies, under which they support more than 30 mutual fund manager clients together, Mainstream Group chief executive Martin Smith said.

"Having an experienced global partner in Equity Trustees means we have been able to bring a lower cost platform solution to the market so our clients can easily distribute their funds in Europe," he said.

Both companies have been expanding globally.

Last year, Mainstream acquired Trinity Fund Administration in Ireland. It opened an office in Singapore in 2012; in Hong Kong in 2013; and in New York and Malta in 2015.

Equity Trustees made a move into UK and European markets last year. It acquired 60% of London-based Treasury Capital Fund Solutions in 2017, which is now a part of the Equity Trustees Group.

Equity Trustees executive general manager, corporate trustee and fund service Harvey Kalman said there is demand from financial services experts for an independent, multi-jurisdictional fund operator who can provide a single relationship and service offering across key fund domiciles.

"No matter where we are in the world, Equity Trustees' role is to ensure each fund operates from the right legal framework, giving investors certainty and security about their investment's governance structure, and fund managers the freedom to focus on managing the investments," Kalman said.

On June 8, Equity Trustees also signed a deal to sell a parcel of land located 45km outside of Melbourne, in Mount Eliza on behalf of the R.M. Ansett Trust, representing the fortune of Sir Reginald Ansett of Ansett Airlines.

Equity Trustees said the land was sold as a single parcel to a purchaser with existing local interests for a confidential amount.

Also on June 8, it appointed a former Sunsuper chief executive as chair to subsidiary.

Tony Lally was announced to be joining the board of Equity Trustees Superannuation as chair; current chair John Crocker retire from his position.

Read more: UCITSIrelandMainstream GroupBNP Paribas Investment PartnersEquity Trustees GroupHarvey KalmanMartin SmithRob HarrisonUSAWestpac Investment Management
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