The Australian Custodial Services Association turned 25 this year. It is one of those behind-the-scenes organisations which work away for the benefit of the whole industry without seeking much limelight. Well, it shone at the AIST’s ASI conference last week.
In a “special interest” session at the conference, Rob Brown, ACSA’s chief executive, supported by two industry stalwarts, gave an insight into the “custodian of the future”. Custodians have always been good at technology and spent a truck load of money on it, globally and in Australia. This is the era when technology is delivering new and tangible returns across the business universe, both disrupting and enhancing traditional business models, including those of super funds and managers.
The two stalwarts were Bryan Gray, a managing director and head of sales and relationships management at J.P. Morgan Securities Services in Australia and New Zealand, and Sally Surgeon, a senior vice president and head of client services for Australia and New Zealand at Northern Trust Asset Servicing. Like Brown, they both said that asset servicing is increasingly about much more than the provision of custody, although this remained a core service.
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