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The Trust Company wins ING mandate, creates new super role
Maureen Daley will lead The Trust Company's push into the superannuation market in the newly created position of head of retirement services after the company picked up the contract to provide trustee services to ING Direct.
The company will provide trustee services to ING's new superannuation product, which is yet to be launched, according to The Trust Company chief executive John Atkin.
Daley will refine the company's superannuation trustee offer as it establishes itself in the region and the company expands its private services, Atkin said.
He said they provided trustee services to about 40 funds, including Virgin Money Superannuation and Executive Super fund.
"(She will) improve the … professional trustee service we provide to people like ING, bring that cross-country expertise to both Australia and NZ and then … build our own capability for our own personal clients," he said.
Daley worked at UniSuper, Aviva (then Norwich Union Australia) and Plum Financial Services before a six-year stint as chief operating officer and strategy manager with eo Financial Services. She joins The Trust Company in November.
Atkin said the company began restructuring last December, which saw a number of executives leave, David Grbin promoted to executive general manager of corporate client services and Shailendra Singh appointed as chief financial officer in August.
The movement would facilitate the integration of its trustee services, according to Atkin.
The Trust Company's corporate trustee services constitute about 40-45 per cent of revenue, but getting on top of Stronger Super and assisting clients with the regulations was the company's main superannuation focus, Atkin said.
Geoff Stirton was appointed to group company secretary and risk officer six months ago to oversee policy across the entire business.
"The complexity and reach of the reforms put a premium on service providers, particularly trustees, who can cut through all that complexity," he said.
Last year, the company purchased The Guardian Trust - a retirement savings fund in New Zealand.
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