Tuesday – February 21

The Westin, Sydney
Grand Ballroom, 3 & 4
The Grand Ballroom is on Level B1, Tower Wing.

A: 1 Martin Place, Sydney NSW
P: 02 8223 1111
W: www.westinsydney.com

LOUNARDA DAVID

Chief investment operations officer, Sunsuper

David joined Sunsuper in April 2014 and is responsible for operations, implementation, risk management and monitoring of Sunsuper’s investments. She is also a member of Sunsuper’s enterprise leadership team. She has more than 30 years of experience in superannuation, investment and financial services, 16 of which were spent consulting to local and global superannuation funds and financial institutions on all facets of custody, investment operations, unit pricing, securities lending, transition management, target operating models, operational due diligence and risk-management reviews. Prior to joining Sunsuper, David spent two years as an independent consultant and 14 years at Mercer Investment Consulting, where she was a worldwide partner and an active member of Mercer’s regional and global leadership teams. She established the Mercer Sentinel Asia Pacific business, the operational and implementation consulting business of Mercer, and was its Asia-Pacific regional director. Prior to Mercer, David worked at State Street for 12 years in many senior roles, including as the head of State Street Australia’s operations and client service business, and subsequently as a senior vice-president and relationship manager. Prior to that, she worked in an accounting and legal firm. She holds a bachelor of business with majors in accounting and economics. David is a regular speaker at industry forums and has published a number of research papers.

DAVID KNIGHTS

Chair, Australian Custodial Services Association

Knights is a non-executive director of the Traditional Credit Union, the only Indigenous-owned authorised deposit-taking institution in Australia. He is also the general manager of client delivery for NAB Asset Servicing, overseeing the delivery of all investment administration and analytical services with a team of 250 professional staff. He has more than 20 years of multi-industry experience, spanning engineering, management consulting, and banking and finance. He joined NAB in 2002, and has held senior roles across the personal bank, business bank, and operations divisions. Previously, he has worked for Bevington Group (originally BCG), leading consulting assignments across the finance, logistics, healthcare and primary resource industries. Knights is a member of the Australian Institute of Company Directors. He holds bachelor of engineering and master of business administration degrees.

The systems that commerce and consumers relied on to find each other have broken down. Angry individuals are rejecting politics, experts and marketing in a post-fact world. In this turbulent arena of broken bonds, panic and short-termism, how do we build strategies for lasting relationships and future success?

Amid disconnection and distrust, how do brands focus on, attract and retain today’s unpredictable clientele? This presentation will explore how to implement key insights to keep your business ahead of the competition.

CHRIS SANDERSON

Co-founder, The Future Laboratory (UK)

Sanderson is responsible for delivering The Future Laboratory’s extensive global roster of conferences, media events and LS:N Global Trend Briefings, which he co-presents with the team in London, New York, Sydney, Melbourne, Stockholm and Helsinki. Clients that have booked his keynotes include Gucci Group, the European Travel Commission, Retail Week, Selfridges, M&S, Chanel, Harrods, Aldo, H&M, General Motors, BBDO, Design Hotels, Conde Nast Media and Omnicom. Sanderson recently presented the five-part TV series, Home of the Future. He co-writes a monthly column for Luxury Briefing and is a SuperBoard member of The British Fashion Council’s Fashion Trust.

10:20 – 10:50 Morning tea

The increasing complexity of investment administration, costs, regulations and member experience has funds revisiting the benefits of internalising investment operations. But how about a hybrid approach that combines insourcing with outsourcing?

JUSTIN HOWELL

Head of strategy and operations, investments, First State Super

Howell has worked in the finance industry for more than 16 years, across client service, operations, product, business strategy and commercial management. He has spent most of his career at Perpetual, working in the funds management division. He joined First State Super in October 2013 and is responsible for investment operations, investment governance, investment tax, data and reporting, operational due diligence, technology, major projects and business strategy.

BARRY LEE

Head of marketing and strategy, Multifonds

Lee has worked with many leading asset managers and fund administrators in Europe, the United States and South Africa, designing and delivering business and technology change projects. Prior to joining Multifonds, he was with EY’s asset management advisory practice in London.

JOSEPH YOUSSEF

General manager, investment operations, Cbus Super

Youssef manages the operational and investment implementation of the fund’s investment strategy and oversees the relationship with the fund’s custodian. He has been with Cbus since November 2013. Previously, he has been head of client services at Legg Mason Global Asset Management and manager of unit pricing at National Custodian Services. He holds a bachelor of commerce degree from the University of Melbourne and a graduate diploma of applied finance and investments, Financial Services Institute of Australasia.

CHAIR: DREW VAUGHAN

Principal, Dymond, Foulds & Vaughan

Vaughan consults to institutional superannuation funds and funds management organisations on all issues associated with portfolio investment, risk, compliance and administration. He has 25 years of experience in the investment and financial services industry. Vaughan advises industry and government superfund boards, as well as investment management firms, on investment, administration, merger and public offer issues. He has provided advice to government on investment structure, taxation and merger issues and he is a member of several fund compliance committees. Vaughan holds bachelor of business and master of business (applied finance) degrees from the University of Technology Sydney. He is a certified public accountant, a fellow of the Financial Services Institute of Australasia and a justice of the peace.

The RG 97 regulation on disclosing fees and costs was intended to create a level playing field; however, the introduction has been painful. The new regulations affect plenty: portfolio holdings disclosure; margining and risk mitigation for non-centrally cleared derivatives; managed investments and custodial or depository services; and the risk-management systems of responsible entities. We hear from the regulator about these developments, and from the industry grappling with the changes.

GERARD FITZPATRICK

Senior executive leader, investment managers and super funds, Australian Securities and Investments Commission

Fitzpatrick is responsible for the regulation of funds management, custodial services, and conduct and disclosure requirements for superannuation funds at ASIC. His other responsibilities include an active international agenda, particularly through the International Organization of Securities Commissions’ committee on investment management, the development of the Asia Region Funds Passport, and the regulation of emerging innovative business models such as crowd-sourced funding and marketplace lending. Prior to joining ASIC, he was general manager, policy and government relations, with the Financial Planning Association of Australia, dealing with a range of issues, including superannuation, investment, credit and margin lending. He is a former secretary-general of the Institutional Money Market Funds Association and international policy adviser for the Investment Management Association in London. Fitzpatrick’s career also includes prudential supervision, economic and market surveillance and international strategy and policy at the UK Financial Services Authority and the Bank of England.

STUART HILL

Head of investment operations, Local Government Super

Hill joined Local Government Super in 2012. Prior to this, he worked with BNP Paribas Securities Services (2002-11) in various roles, including: project manager, trade processing; outsourced functions review manager; international settlements manager; and unlisted unit trusts manager. He was a lead broker’s assistant in the graduate program at Charles Stanley Stockbrokers from 2000 to 2002. Hill has worked in diverse locations such as London, Sydney, Chennai and Glasgow. He holds a master of organisational leadership, a Certificate III in investment administration (UK), and a diploma of financial services (financial planning). He also has RG146 accreditation.

RICKY NOTARANGELO

Head of policy services, NAB Asset Servicing

Notarangelo has more than 30 years’ experience in financial services, supporting end-to-end processing of buy-side investment managers and collective investment schemes. He is an active member of the Financial Services Council unit pricing working group and the Australian Custodial Services Association stronger super taskforce. He is responsible for overseeing the development and maintenance of policies supporting the provision of tax, accounting and regulatory reporting services for the superannuation, life insurance and managed funds clients of NAB Asset Servicing. Prior to joining NAB, Notarangelo held a variety of leadership roles within Suncorp, BNP Paribas and the AMP Group, across a diverse range of business functions. He has also consulted to a series of major change programs, both here and in the UK.

CHAIR: MICHAEL GUILDAY

General manager, investments legal, Cbus Super

Guilday has eight years of industry experience and joined Cbus in November 2014. His responsibilities include providing legal services to the Cbus investments team, including advising on investment manager appointments, investment acquisitions and disposals and regulatory issues, and providing general corporate and commercial advice. Previously, Guilday has been senior legal counsel at Colonial First State Global Asset Management and senior corporate legal counsel at the Goodman Group. He was also a partner at Ropes & Gray. He holds a bachelor of laws and a bachelor of science from Monash University and a master of taxation laws from the University of Melbourne.

12:30 – 13:30 Lunch – sponsored by Northern Trust

Industry participants of all sizes and complexities are increasingly focusing on operational due diligence. This panel will discuss the various approaches of organisations to this challenge and the role operational due diligence has in the investment and governance process. The session will include coverage of insourcing and outsourcing challenges.

LOUNARDA DAVID

Chief investment operations officer, Sunsuper

David joined Sunsuper in April 2014 and is responsible for operations, implementation, risk management and monitoring of Sunsuper’s investments. She is also a member of Sunsuper’s enterprise leadership team. She has more than 30 years of experience in superannuation, investment and financial services, 16 of which were spent consulting to local and global superannuation funds and financial institutions on all facets of custody, investment operations, unit pricing, securities lending, transition management, target operating models, operational due diligence and risk-management reviews. Prior to joining Sunsuper, David spent two years as an independent consultant and 14 years at Mercer Investment Consulting, where she was a worldwide partner and an active member of Mercer’s regional and global leadership teams. She established the Mercer Sentinel Asia Pacific business, the operational and implementation consulting business of Mercer, and was its Asia-Pacific regional director. Prior to Mercer, David worked at State Street for 12 years in many senior roles, including as the head of State Street Australia’s operations and client service business, and subsequently as a senior vice-president and relationship manager. Prior to that, she worked in an accounting and legal firm. She holds a bachelor of business with majors in accounting and economics. David is a regular speaker at industry forums and has published a number of research papers.

JONATHAN GREEN

General manager investment implementation and operations, New South Wales Treasury Corporation (TCorp)

Green is responsible for the activities that support TCorp’s A$70 billion in funds under management. Prior to this, he was responsible for all of TCorp’s investment outcomes, managing the hourglass funds and cash and fixed income teams. Green has more than 25 years of experience within the Australian financial services industry, having worked in both the private and public sectors.

TRICIA NGUYEN

Principal, operational due diligence lead, Mercer

Nguyen is a principal in Mercer’s investments business and is based in Sydney. She is a member of Mercer Sentinel and specialises in custody and investment operations; she heads up the operational risk and governance offering. Prior to joining Mercer, Nguyen gained more than nine years of experience at BNP Paribas Securities Services as a relationship manager, where she was responsible for the overall management of key complex client relationships. Prior to that, Nguyen spent more than five years at Russell (London and Sydney) as a consultant in the asset consulting advisory business. Her other roles have included consulting at StatPro (UK) with regards to improving efficiency of the performance reporting function in compliance with GIPS (Global Investment Performance Standards). She holds bachelor of business (finance) and bachelor of laws degrees from the University of Technology Sydney. Nguyen has completed Level II of the Chartered Financial Analyst program, and is a member of Women in Super.

EMMA ROBERTSON

Head of investment operations, Vision Super

Robertson is an actuary with more than 20 years of experience in the financial services industry, primarily working with superannuation funds. Most of her career has been spent in consulting, including roles with Deloitte, Ask IT Consulting, Mercer and Towers Perrin. In recent years, she has assisted some of Australia’s largest and most sophisticated industry superannuation funds with enhancing their investment operations, unit pricing methodologies and crediting rates methodologies. In March 2015, Robertson made the move from consulting to industry, taking up her current role at Vision Super.

CHAIR: JO LEAPER

Manager, operational consulting, JANA

Leaper dedicates her time to the operational needs of JANA’s client base, including governance reviews, building new product, custody and operational research (including operational due diligence), and broad operational expertise. She has almost 20 years of industry experience, with a background in asset servicing and relationship management. Leaper’s current role enables her to assist clients.

Recent investor activism and class actions have led investors to review their internal processes, internal teams, external managers, and standardised frameworks to ensure they are meeting their legal duty to shield against losses sustained from poor operations or fraud. This session looks at the Australian Prudential Regulation Authority’s due diligence guidelines through the lens of recent court rulings.

AMANDA BANTON

Partner, Squire Patton Boggs

Banton leads the firm’s Asia-Pacific restructuring and insolvency practice. She has been involved in several high-profile insolvencies, including the administration and liquidation of Lehman Brothers Australia. She acted for a number of local government councils that successfully brought claims against Standard and Poor’s, ABN Amro Bank NV and Local Government Financial Services in relation to credit ratings issued to a complex structured financial product. This is the only successful class action against Standard & Poor’s and, to date, the only litigation in the world that has secured a judgement against a global credit ratings agency. Banton is regularly ranked among Australia’s elite restructuring, insolvency and class-action lawyers. In 2016, she was named Australian Restructuring & Insolvency Lawyer of the Year.

JIM BOYNTON

Partner, King & Wood Mallesons

Boynton is a corporate partner of the international law firm King & Wood Mallesons. He has more than 30 years’ experience in investment funds, products and services, and superannuation. His main clients are institutional investors and fund sponsors. Boynton is listed as a leading individual in numerous directories, including: Best Lawyers in Australia 2016; Chambers and Partners Australia 2011-14 editions (investment funds); and Chambers and Partners Australia 2013-16 (financial services regulation).

MICHAEL GUILDAY

General manager, investments legal, Cbus Super

Guilday has eight years of industry experience and joined Cbus in November 2014. His responsibilities include providing legal services to the Cbus investments team, including advising on investment manager appointments, investment acquisitions and disposals and regulatory issues, and providing general corporate and commercial advice. Previously, Guilday has been senior legal counsel at Colonial First State Global Asset Management and senior corporate legal counsel at the Goodman Group. He was also a partner at Ropes & Gray. He holds a bachelor of laws and a bachelor of science from Monash University and a master of taxation laws from the University of Melbourne.

CHAIR: KHALED BAJHAU

Senior lawyer, investments legal, AustralianSuper

Bajhau is a senior lawyer in AustralianSuper’s investments team. He is responsible for, among other things, leading and co-ordinating the legal aspects of mid-risk investment transactions (property, infrastructure and credit). In addition, Bajhau works closely with AustralianSuper’s operational risk team in evaluating, negotiating and on-boarding asset managers, primarily in the listed equities sector. Prior to his current role, Bajhau worked at major Australian law firms, and at one of Australia’s largest infrastructure fund managers. Bajhau holds bachelor of laws and bachelor of commerce degrees from the University of Adelaide.

15:00 – 15:30 Afternoon tea

Under pressure to comply with tightening regulatory requirements, custodians are increasingly looking to realise the economic value of live data. Using big-data initiatives, custodians are seeking to enhance their offerings via improved methods of data aggregation, risk management, digital experience, operational agility, and cross-selling.

ALEX WISE

Executive consultant, Asia-Pacific, Castle Hall Alternatives

Wise provides business strategy consulting to leading firms, including global operational due diligence firm Castle Hall Alternatives and fintech leaders OneVue. He is a former head of legal and director at a hedge fund firm in the UK. After moving to Australia in 2007, he founded operational due diligence house Orchard Harbour. Wise is the former chief operating officer of Select Asset Management and a former executive leader at OneVue.

ANGELO CALVITTO

Senior vice-president, deputy head of sales Asia-Pacific, Northern Trust

Calvitto joined Northern Trust in June 2008. He is the deputy head of sales, Asia-Pacific, and previously was the head of sales and marketing, Australia and New Zealand. Prior to joining Northern Trust, he was head of sales and account management at ANZ Custodian Services. He has more than 28 years of global custody services experience and has held positions in operations, investment administration, fund services, relationship management and sales in both the Australian and UK markets. Prior to ANZ, Calvitto worked for State Street in Australia for three years and the UK for five years. He holds an MBA from RMIT University.

MELISSA FERRER

Partner, analytics and information management, Deloitte Australia

Ferrer is the Sydney lead for the analytics and information management team at Deloitte. She has worked with a number of financial and public sector organisations in the US, Australia and New Zealand, to successfully embed data capabilities

DAVID MACKAWAY

General manager, operations, Challenger

Mackaway joined Challenger in November 2007 and is responsible for all investment and registry operations supporting the Challenger business. He has worked in the industry for more than 20 years. Prior to joining Challenger, he was an executive director of MMC Asset Management and chief financial officer of ASX-listed MMC Contrarian. Prior to MMC, he was based in the US as global head of operations for Principal Global Investors. Mackaway also worked in Australia for BT Funds Management for more than 10 years in various operational roles, including running BT’s fixed-interest and currency business. He is an associate of the Institute of Chartered Accountants in Australia and a fellow of the Financial Services Institute of Australasia. Mackaway holds a bachelor of economics from Macquarie University and a graduate diploma in applied finance from the Financial Services Institute of Australasia.

Investment management cannot evolve if administrative infrastructure does not keep up with the future, whether it’s the power of Blockchain, open-sourced standard platforms, lower barriers to entry driving greater competition, regulatory changes, product innovation or workforce diversity.  

SIMON BLAKERS

Chief operating officer, Ausbil Investment Management

Blakers served as group head of risk and insurance at Lend Lease Group prior to joining Ausbil in 2014 as chief operating officer. Prior to his time at Lend Lease, he was a consultant at PwC, advising multinationals in Asia-Pacific, North America and Europe on performance improvement, strategy and risk management. Blakers holds a bachelor of economics degree from the Australian National University and an MBA from Macquarie University. He is a chartered accountant and a graduate member of the Australian Institute of Company Directors.

MARK NEARY

Managing director Asia-Pacific, Milestone Group

Neary has been with Milestone Group for more than 12 years and is responsible for market development activities in the Asia-Pacific region for the group’s pControl funds processing platform. From 2007 through 2009, he was based in Europe as Milestone’s director of product. Since joining the organisation, he has held various product management, implementation and advisory roles. Previously, he was with Perpetual Trustees and Rothschild Australia Asset Management. Neary has more than 20 years of experience in technology as it applies to financial markets and has undertaken project consulting and implementation roles with organisations such as Westpac, Chase Manhattan Bank, NatWest Markets, the State Bank of New South Wales, the Treasury Corporation of Victoria and the Australian Institute of Company Directors.

PAUL XUEREB

Senior manager, business engagement and solution delivery, AustralianSuper

Xuereb is a member of AustralianSuper’s technology leadership team and is responsible for ensuring that the technology solutions the fund implements are of the highest quality. He manages AustralianSuper’s solution delivery teams, which perform the analysis, design, implementation and testing on projects across investments, digital, administration and internal IT systems. Xuereb has worked in the investments technology space for more than a decade and joined AustralianSuper in 2012 to lead the implementation of the technology required to support the internalisation of investment management. Prior to AustralianSuper, he worked at Vanguard, where he had a number of roles leading software development teams across front-, middle- and back-office domains. Xuereb has a bachelor of computing degree and a graduate diploma in applied finance.

CHAIR: DAVID KNIGHTS

Chair, Australian Custodial Services Association

Knights is a non-executive director of the Traditional Credit Union, the only Indigenous-owned authorised deposit-taking institution in Australia. He is also the general manager of client delivery for NAB Asset Servicing, overseeing the delivery of all investment administration and analytical services with a team of 250 professional staff. He has more than 20 years of multi-industry experience, spanning engineering, management consulting, and banking and finance. He joined NAB in 2002, and has held senior roles across the personal bank, business bank, and operations divisions. Previously, he has worked for Bevington Group (originally BCG), leading consulting assignments across the finance, logistics, healthcare and primary resource industries. Knights is a member of the Australian Institute of Company Directors. He holds bachelor of engineering and master of business administration degrees.
    • The Lifetime Achievement Award will honour an individual’s outstanding contribution of leadership, innovation and service to the investment operations sector.

COLIN TATE

Chief executive, Conexus Financial

Colin Tate has been an investment industry media publisher and conference producer since 1996. In his media career, Tate has launched and overseen dozens of print and electronic publications. He is the chief executive and major shareholder of Conexus Financial, which was formed in 2005, and is headquartered in Sydney, Australia. The company stages more than 20 conferences and events each year – in London, New York, San Francisco, Los Angeles, Amsterdam, Beijing, Sydney and Melbourne – and publishes five media brands, including the global website and strategy newsletter for global institutional investors www.top1000funds.com. One of the company’s signature events is the bi-annual Fiduciary Investors Symposium. Conexus Financial’s events aim to place the responsibilities of investors in wider societal, and political contexts, as well as promote the long-term stability of markets and sustainable retirement incomes. Tate served for seven years on the board of Australia’s most high profile homeless charity, The Wayside Chapel; and he has underwritten the welfare of 60,000 people in 28 villages throughout Uganda via The Hunger Project.

17:30 – 18:30 Conference close and networking drinks

Tuesday – February 21

The Westin, Sydney
Grand Ballroom, 3 & 4
The Grand Ballroom is on Level B1, Tower Wing.

A: 1 Martin Place, Sydney NSW
P: 02 8223 1111
W: www.westinsydney.com

LOUNARDA DAVID

Chief investment operations officer, Sunsuper

David joined Sunsuper in April 2014 and is responsible for operations, implementation, risk management and monitoring of Sunsuper’s investments. She is also a member of Sunsuper’s enterprise leadership team. She has more than 30 years of experience in superannuation, investment and financial services, 16 of which were spent consulting to local and global superannuation funds and financial institutions on all facets of custody, investment operations, unit pricing, securities lending, transition management, target operating models, operational due diligence and risk-management reviews. Prior to joining Sunsuper, David spent two years as an independent consultant and 14 years at Mercer Investment Consulting, where she was a worldwide partner and an active member of Mercer’s regional and global leadership teams. She established the Mercer Sentinel Asia Pacific business, the operational and implementation consulting business of Mercer, and was its Asia-Pacific regional director. Prior to Mercer, David worked at State Street for 12 years in many senior roles, including as the head of State Street Australia’s operations and client service business, and subsequently as a senior vice-president and relationship manager. Prior to that, she worked in an accounting and legal firm. She holds a bachelor of business with majors in accounting and economics. David is a regular speaker at industry forums and has published a number of research papers.

DAVID KNIGHTS

Chair, Australian Custodial Services Association

Knights is a non-executive director of the Traditional Credit Union, the only Indigenous-owned authorised deposit-taking institution in Australia. He is also the general manager of client delivery for NAB Asset Servicing, overseeing the delivery of all investment administration and analytical services with a team of 250 professional staff. He has more than 20 years of multi-industry experience, spanning engineering, management consulting, and banking and finance. He joined NAB in 2002, and has held senior roles across the personal bank, business bank, and operations divisions. Previously, he has worked for Bevington Group (originally BCG), leading consulting assignments across the finance, logistics, healthcare and primary resource industries. Knights is a member of the Australian Institute of Company Directors. He holds bachelor of engineering and master of business administration degrees.

The systems that commerce and consumers relied on to find each other have broken down. Angry individuals are rejecting politics, experts and marketing in a post-fact world. In this turbulent arena of broken bonds, panic and short-termism, how do we build strategies for lasting relationships and future success?

Amid disconnection and distrust, how do brands focus on, attract and retain today’s unpredictable clientele? This presentation will explore how to implement key insights to keep your business ahead of the competition.

CHRIS SANDERSON

Co-founder, The Future Laboratory (UK)

Sanderson is responsible for delivering The Future Laboratory’s extensive global roster of conferences, media events and LS:N Global Trend Briefings, which he co-presents with the team in London, New York, Sydney, Melbourne, Stockholm and Helsinki. Clients that have booked his keynotes include Gucci Group, the European Travel Commission, Retail Week, Selfridges, M&S, Chanel, Harrods, Aldo, H&M, General Motors, BBDO, Design Hotels, Conde Nast Media and Omnicom. Sanderson recently presented the five-part TV series, Home of the Future. He co-writes a monthly column for Luxury Briefing and is a SuperBoard member of The British Fashion Council’s Fashion Trust.

10:20 – 10:50 Morning tea

The increasing complexity of investment administration, costs, regulations and member experience has funds revisiting the benefits of internalising investment operations. But how about a hybrid approach that combines insourcing with outsourcing?

JUSTIN HOWELL

Head of strategy and operations, investments, First State Super

Howell has worked in the finance industry for more than 16 years, across client service, operations, product, business strategy and commercial management. He has spent most of his career at Perpetual, working in the funds management division. He joined First State Super in October 2013 and is responsible for investment operations, investment governance, investment tax, data and reporting, operational due diligence, technology, major projects and business strategy.

BARRY LEE

Head of marketing and strategy, Multifonds

Lee has worked with many leading asset managers and fund administrators in Europe, the United States and South Africa, designing and delivering business and technology change projects. Prior to joining Multifonds, he was with EY’s asset management advisory practice in London.

JOSEPH YOUSSEF

General manager, investment operations, Cbus Super

Youssef manages the operational and investment implementation of the fund’s investment strategy and oversees the relationship with the fund’s custodian. He has been with Cbus since November 2013. Previously, he has been head of client services at Legg Mason Global Asset Management and manager of unit pricing at National Custodian Services. He holds a bachelor of commerce degree from the University of Melbourne and a graduate diploma of applied finance and investments, Financial Services Institute of Australasia.

CHAIR: DREW VAUGHAN

Principal, Dymond, Foulds & Vaughan

Vaughan consults to institutional superannuation funds and funds management organisations on all issues associated with portfolio investment, risk, compliance and administration. He has 25 years of experience in the investment and financial services industry. Vaughan advises industry and government superfund boards, as well as investment management firms, on investment, administration, merger and public offer issues. He has provided advice to government on investment structure, taxation and merger issues and he is a member of several fund compliance committees. Vaughan holds bachelor of business and master of business (applied finance) degrees from the University of Technology Sydney. He is a certified public accountant, a fellow of the Financial Services Institute of Australasia and a justice of the peace.

The RG 97 regulation on disclosing fees and costs was intended to create a level playing field; however, the introduction has been painful. The new regulations affect plenty: portfolio holdings disclosure; margining and risk mitigation for non-centrally cleared derivatives; managed investments and custodial or depository services; and the risk-management systems of responsible entities. We hear from the regulator about these developments, and from the industry grappling with the changes.

GERARD FITZPATRICK

Senior executive leader, investment managers and super funds, Australian Securities and Investments Commission

Fitzpatrick is responsible for the regulation of funds management, custodial services, and conduct and disclosure requirements for superannuation funds at ASIC. His other responsibilities include an active international agenda, particularly through the International Organization of Securities Commissions’ committee on investment management, the development of the Asia Region Funds Passport, and the regulation of emerging innovative business models such as crowd-sourced funding and marketplace lending. Prior to joining ASIC, he was general manager, policy and government relations, with the Financial Planning Association of Australia, dealing with a range of issues, including superannuation, investment, credit and margin lending. He is a former secretary-general of the Institutional Money Market Funds Association and international policy adviser for the Investment Management Association in London. Fitzpatrick’s career also includes prudential supervision, economic and market surveillance and international strategy and policy at the UK Financial Services Authority and the Bank of England.

STUART HILL

Head of investment operations, Local Government Super

Hill joined Local Government Super in 2012. Prior to this, he worked with BNP Paribas Securities Services (2002-11) in various roles, including: project manager, trade processing; outsourced functions review manager; international settlements manager; and unlisted unit trusts manager. He was a lead broker’s assistant in the graduate program at Charles Stanley Stockbrokers from 2000 to 2002. Hill has worked in diverse locations such as London, Sydney, Chennai and Glasgow. He holds a master of organisational leadership, a Certificate III in investment administration (UK), and a diploma of financial services (financial planning). He also has RG146 accreditation.

RICKY NOTARANGELO

Head of policy services, NAB Asset Servicing

Notarangelo has more than 30 years’ experience in financial services, supporting end-to-end processing of buy-side investment managers and collective investment schemes. He is an active member of the Financial Services Council unit pricing working group and the Australian Custodial Services Association stronger super taskforce. He is responsible for overseeing the development and maintenance of policies supporting the provision of tax, accounting and regulatory reporting services for the superannuation, life insurance and managed funds clients of NAB Asset Servicing. Prior to joining NAB, Notarangelo held a variety of leadership roles within Suncorp, BNP Paribas and the AMP Group, across a diverse range of business functions. He has also consulted to a series of major change programs, both here and in the UK.

CHAIR: MICHAEL GUILDAY

General manager, investments legal, Cbus Super

Guilday has eight years of industry experience and joined Cbus in November 2014. His responsibilities include providing legal services to the Cbus investments team, including advising on investment manager appointments, investment acquisitions and disposals and regulatory issues, and providing general corporate and commercial advice. Previously, Guilday has been senior legal counsel at Colonial First State Global Asset Management and senior corporate legal counsel at the Goodman Group. He was also a partner at Ropes & Gray. He holds a bachelor of laws and a bachelor of science from Monash University and a master of taxation laws from the University of Melbourne.

12:30 – 13:30 Lunch – sponsored by Northern Trust

Industry participants of all sizes and complexities are increasingly focusing on operational due diligence. This panel will discuss the various approaches of organisations to this challenge and the role operational due diligence has in the investment and governance process. The session will include coverage of insourcing and outsourcing challenges.

LOUNARDA DAVID

Chief investment operations officer, Sunsuper

David joined Sunsuper in April 2014 and is responsible for operations, implementation, risk management and monitoring of Sunsuper’s investments. She is also a member of Sunsuper’s enterprise leadership team. She has more than 30 years of experience in superannuation, investment and financial services, 16 of which were spent consulting to local and global superannuation funds and financial institutions on all facets of custody, investment operations, unit pricing, securities lending, transition management, target operating models, operational due diligence and risk-management reviews. Prior to joining Sunsuper, David spent two years as an independent consultant and 14 years at Mercer Investment Consulting, where she was a worldwide partner and an active member of Mercer’s regional and global leadership teams. She established the Mercer Sentinel Asia Pacific business, the operational and implementation consulting business of Mercer, and was its Asia-Pacific regional director. Prior to Mercer, David worked at State Street for 12 years in many senior roles, including as the head of State Street Australia’s operations and client service business, and subsequently as a senior vice-president and relationship manager. Prior to that, she worked in an accounting and legal firm. She holds a bachelor of business with majors in accounting and economics. David is a regular speaker at industry forums and has published a number of research papers.

JONATHAN GREEN

General manager investment implementation and operations, New South Wales Treasury Corporation (TCorp)

Green is responsible for the activities that support TCorp’s A$70 billion in funds under management. Prior to this, he was responsible for all of TCorp’s investment outcomes, managing the hourglass funds and cash and fixed income teams. Green has more than 25 years of experience within the Australian financial services industry, having worked in both the private and public sectors.

TRICIA NGUYEN

Principal, operational due diligence lead, Mercer

Nguyen is a principal in Mercer’s investments business and is based in Sydney. She is a member of Mercer Sentinel and specialises in custody and investment operations; she heads up the operational risk and governance offering. Prior to joining Mercer, Nguyen gained more than nine years of experience at BNP Paribas Securities Services as a relationship manager, where she was responsible for the overall management of key complex client relationships. Prior to that, Nguyen spent more than five years at Russell (London and Sydney) as a consultant in the asset consulting advisory business. Her other roles have included consulting at StatPro (UK) with regards to improving efficiency of the performance reporting function in compliance with GIPS (Global Investment Performance Standards). She holds bachelor of business (finance) and bachelor of laws degrees from the University of Technology Sydney. Nguyen has completed Level II of the Chartered Financial Analyst program, and is a member of Women in Super.

EMMA ROBERTSON

Head of investment operations, Vision Super

Robertson is an actuary with more than 20 years of experience in the financial services industry, primarily working with superannuation funds. Most of her career has been spent in consulting, including roles with Deloitte, Ask IT Consulting, Mercer and Towers Perrin. In recent years, she has assisted some of Australia’s largest and most sophisticated industry superannuation funds with enhancing their investment operations, unit pricing methodologies and crediting rates methodologies. In March 2015, Robertson made the move from consulting to industry, taking up her current role at Vision Super.

CHAIR: JO LEAPER

Manager, operational consulting, JANA

Leaper dedicates her time to the operational needs of JANA’s client base, including governance reviews, building new product, custody and operational research (including operational due diligence), and broad operational expertise. She has almost 20 years of industry experience, with a background in asset servicing and relationship management. Leaper’s current role enables her to assist clients.

Recent investor activism and class actions have led investors to review their internal processes, internal teams, external managers, and standardised frameworks to ensure they are meeting their legal duty to shield against losses sustained from poor operations or fraud. This session looks at the Australian Prudential Regulation Authority’s due diligence guidelines through the lens of recent court rulings.

AMANDA BANTON

Partner, Squire Patton Boggs

Banton leads the firm’s Asia-Pacific restructuring and insolvency practice. She has been involved in several high-profile insolvencies, including the administration and liquidation of Lehman Brothers Australia. She acted for a number of local government councils that successfully brought claims against Standard and Poor’s, ABN Amro Bank NV and Local Government Financial Services in relation to credit ratings issued to a complex structured financial product. This is the only successful class action against Standard & Poor’s and, to date, the only litigation in the world that has secured a judgement against a global credit ratings agency. Banton is regularly ranked among Australia’s elite restructuring, insolvency and class-action lawyers. In 2016, she was named Australian Restructuring & Insolvency Lawyer of the Year.

JIM BOYNTON

Partner, King & Wood Mallesons

Boynton is a corporate partner of the international law firm King & Wood Mallesons. He has more than 30 years’ experience in investment funds, products and services, and superannuation. His main clients are institutional investors and fund sponsors. Boynton is listed as a leading individual in numerous directories, including: Best Lawyers in Australia 2016; Chambers and Partners Australia 2011-14 editions (investment funds); and Chambers and Partners Australia 2013-16 (financial services regulation).

MICHAEL GUILDAY

General manager, investments legal, Cbus Super

Guilday has eight years of industry experience and joined Cbus in November 2014. His responsibilities include providing legal services to the Cbus investments team, including advising on investment manager appointments, investment acquisitions and disposals and regulatory issues, and providing general corporate and commercial advice. Previously, Guilday has been senior legal counsel at Colonial First State Global Asset Management and senior corporate legal counsel at the Goodman Group. He was also a partner at Ropes & Gray. He holds a bachelor of laws and a bachelor of science from Monash University and a master of taxation laws from the University of Melbourne.

CHAIR: KHALED BAJHAU

Senior lawyer, investments legal, AustralianSuper

Bajhau is a senior lawyer in AustralianSuper’s investments team. He is responsible for, among other things, leading and co-ordinating the legal aspects of mid-risk investment transactions (property, infrastructure and credit). In addition, Bajhau works closely with AustralianSuper’s operational risk team in evaluating, negotiating and on-boarding asset managers, primarily in the listed equities sector. Prior to his current role, Bajhau worked at major Australian law firms, and at one of Australia’s largest infrastructure fund managers. Bajhau holds bachelor of laws and bachelor of commerce degrees from the University of Adelaide.

15:00 – 15:30 Afternoon tea

Under pressure to comply with tightening regulatory requirements, custodians are increasingly looking to realise the economic value of live data. Using big-data initiatives, custodians are seeking to enhance their offerings via improved methods of data aggregation, risk management, digital experience, operational agility, and cross-selling.

ALEX WISE

Executive consultant, Asia-Pacific, Castle Hall Alternatives

Wise provides business strategy consulting to leading firms, including global operational due diligence firm Castle Hall Alternatives and fintech leaders OneVue. He is a former head of legal and director at a hedge fund firm in the UK. After moving to Australia in 2007, he founded operational due diligence house Orchard Harbour. Wise is the former chief operating officer of Select Asset Management and a former executive leader at OneVue.

ANGELO CALVITTO

Senior vice-president, deputy head of sales Asia-Pacific, Northern Trust

Calvitto joined Northern Trust in June 2008. He is the deputy head of sales, Asia-Pacific, and previously was the head of sales and marketing, Australia and New Zealand. Prior to joining Northern Trust, he was head of sales and account management at ANZ Custodian Services. He has more than 28 years of global custody services experience and has held positions in operations, investment administration, fund services, relationship management and sales in both the Australian and UK markets. Prior to ANZ, Calvitto worked for State Street in Australia for three years and the UK for five years. He holds an MBA from RMIT University.

MELISSA FERRER

Partner, analytics and information management, Deloitte Australia

Ferrer is the Sydney lead for the analytics and information management team at Deloitte. She has worked with a number of financial and public sector organisations in the US, Australia and New Zealand, to successfully embed data capabilities

DAVID MACKAWAY

General manager, operations, Challenger

Mackaway joined Challenger in November 2007 and is responsible for all investment and registry operations supporting the Challenger business. He has worked in the industry for more than 20 years. Prior to joining Challenger, he was an executive director of MMC Asset Management and chief financial officer of ASX-listed MMC Contrarian. Prior to MMC, he was based in the US as global head of operations for Principal Global Investors. Mackaway also worked in Australia for BT Funds Management for more than 10 years in various operational roles, including running BT’s fixed-interest and currency business. He is an associate of the Institute of Chartered Accountants in Australia and a fellow of the Financial Services Institute of Australasia. Mackaway holds a bachelor of economics from Macquarie University and a graduate diploma in applied finance from the Financial Services Institute of Australasia.

Investment management cannot evolve if administrative infrastructure does not keep up with the future, whether it’s the power of Blockchain, open-sourced standard platforms, lower barriers to entry driving greater competition, regulatory changes, product innovation or workforce diversity.  

SIMON BLAKERS

Chief operating officer, Ausbil Investment Management

Blakers served as group head of risk and insurance at Lend Lease Group prior to joining Ausbil in 2014 as chief operating officer. Prior to his time at Lend Lease, he was a consultant at PwC, advising multinationals in Asia-Pacific, North America and Europe on performance improvement, strategy and risk management. Blakers holds a bachelor of economics degree from the Australian National University and an MBA from Macquarie University. He is a chartered accountant and a graduate member of the Australian Institute of Company Directors.

MARK NEARY

Managing director Asia-Pacific, Milestone Group

Neary has been with Milestone Group for more than 12 years and is responsible for market development activities in the Asia-Pacific region for the group’s pControl funds processing platform. From 2007 through 2009, he was based in Europe as Milestone’s director of product. Since joining the organisation, he has held various product management, implementation and advisory roles. Previously, he was with Perpetual Trustees and Rothschild Australia Asset Management. Neary has more than 20 years of experience in technology as it applies to financial markets and has undertaken project consulting and implementation roles with organisations such as Westpac, Chase Manhattan Bank, NatWest Markets, the State Bank of New South Wales, the Treasury Corporation of Victoria and the Australian Institute of Company Directors.

PAUL XUEREB

Senior manager, business engagement and solution delivery, AustralianSuper

Xuereb is a member of AustralianSuper’s technology leadership team and is responsible for ensuring that the technology solutions the fund implements are of the highest quality. He manages AustralianSuper’s solution delivery teams, which perform the analysis, design, implementation and testing on projects across investments, digital, administration and internal IT systems. Xuereb has worked in the investments technology space for more than a decade and joined AustralianSuper in 2012 to lead the implementation of the technology required to support the internalisation of investment management. Prior to AustralianSuper, he worked at Vanguard, where he had a number of roles leading software development teams across front-, middle- and back-office domains. Xuereb has a bachelor of computing degree and a graduate diploma in applied finance.

CHAIR: DAVID KNIGHTS

Chair, Australian Custodial Services Association

Knights is a non-executive director of the Traditional Credit Union, the only Indigenous-owned authorised deposit-taking institution in Australia. He is also the general manager of client delivery for NAB Asset Servicing, overseeing the delivery of all investment administration and analytical services with a team of 250 professional staff. He has more than 20 years of multi-industry experience, spanning engineering, management consulting, and banking and finance. He joined NAB in 2002, and has held senior roles across the personal bank, business bank, and operations divisions. Previously, he has worked for Bevington Group (originally BCG), leading consulting assignments across the finance, logistics, healthcare and primary resource industries. Knights is a member of the Australian Institute of Company Directors. He holds bachelor of engineering and master of business administration degrees.
    • The Lifetime Achievement Award will honour an individual’s outstanding contribution of leadership, innovation and service to the investment operations sector.

COLIN TATE

Chief executive, Conexus Financial

Colin Tate has been an investment industry media publisher and conference producer since 1996. In his media career, Tate has launched and overseen dozens of print and electronic publications. He is the chief executive and major shareholder of Conexus Financial, which was formed in 2005, and is headquartered in Sydney, Australia. The company stages more than 20 conferences and events each year – in London, New York, San Francisco, Los Angeles, Amsterdam, Beijing, Sydney and Melbourne – and publishes five media brands, including the global website and strategy newsletter for global institutional investors www.top1000funds.com. One of the company’s signature events is the bi-annual Fiduciary Investors Symposium. Conexus Financial’s events aim to place the responsibilities of investors in wider societal, and political contexts, as well as promote the long-term stability of markets and sustainable retirement incomes. Tate served for seven years on the board of Australia’s most high profile homeless charity, The Wayside Chapel; and he has underwritten the welfare of 60,000 people in 28 villages throughout Uganda via The Hunger Project.

17:30 – 18:30 Conference close and networking drinks

Session Papers

Alternative assets

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Helping asset managers navigate the data sea

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Taming the data sea

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