Former custody consultant Wendy Leong started at the Future Fund last Tuesday in the role of operations strategist, reporting to head of operations Gordon McKellar.

Leong was previously deputy head of product at BNP Paribas Securities Services, while McKellar was head of operations at the same custodian. McKellar said Leong would play an active role in the ongoing custodian tender being assisted by consultancy Thomas Murray. Marathon ‘Star Chamber’ meetings, in which Thomas Murray grills hopeful custodians for several hours, are scheduled for this week. Following the tender, McKellar said Leong would “;primarily be responsible for the design and implementation of an optimal operating model, supporting the needs and investment objectives of the Fund”;. Leong joined BNP PSS’ Melbourne office just over three years ago after 15 years as a consultant on investment administration, most recently for Deloitte Touche Tohmatsu after founding Towers Perrin’s custody consulting business in 1999. McKellar said Leong had worked with funds in North America, Asia and locally, and that this global perspective would be vital for her Future Fund responsibilities.

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