The Australian Custodial Services Association (ACSA) has re-elected as chair the managing director of State Street Investor Services, David Travers, while the release of its industry statistics has been delayed due to definitional problems.
Two new faces joined the ACSA board at elections last Wednesday – the National Australia Custodian Services (NACS) business leader for Sydney operations, Geoff O’Callaghan, and the new local boss for BNP Paribas Securities Services, Jean-Marc Pasquet. Stepping down from the board were outgoing NACS chief Peter Kempster, and outgoing RBC Dexia Investor Services boss Alex Muto. Remaining on the board are Bank of New York’s Brian Slade (deputy chair), HSBC Securities Services’ Barry Dench (treasurer) and JPMorgan Investor Services’ Graeme Arnott. Meanwhile, the annual release of ACSA’s industry statistics, tallying each member organisation’s assets under custody for domestic, global and master custody, has been delayed due to definitional problems with two of the submissions. The problems are understood to stem from the double-counting of outsourced domestic custody in a group’s master custody figures, and double-counting of outsourced global custody mandates.
19 December 2006 00:00
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Investments
Asset owners are right to be concerned about private credit fund suspensions and redemption queues, Blue Owl head of alternative credit Ivan Zinn told the Investment Magazine Fiduciary Investors Symposium, but he thinks that two years from now they’ll be looked back on as nothing more than a “speed bump” on a highway of growth and strong returns.
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