After more than 30 years with National Australia Bank, most of it in the custody area, John Treloar has been confirmed as general manager of NAB Custody.

The appointment followed a national and international search, as well as the consideration of several internal candidates. It follows the departure late last year of Peter Kempster. Treloar has been instrumental in the growth of NAB Custody from its first client, which it still retains, Workcover Victoria, about 20 years ago. He said the custody area had been expanded in recent years to include all aspects of backoffice administration for funds managers and platforms. NAB has 30 funds manager clients, including QIC. Increasingly both super funds and managers were requiring administration of new and alternative investments, he said, as well as more international investments. “The bulk of custody can be handled through automated processes. It’s the 10-20 per cent that’s different that counts. That’s where the value add comes from.” NAB does custody for Access Economics client funds MTAA and Westscheme which are both known for having a high allocation to unlisted investments. It is also migrating the hedge fund-of-funds manager it recently won from ANZ, HFA.

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