NAB Custodian Services has been restructured with the establishment of four positions of ‘director’ under recently appointed general manager, John Treloar.
Treloar announced the restructure to staff last week. The new directors are: Brian Keogh as director of processing services; Ray Lester as director of delivery services; Patrick Liddy as director of marketing and strategy; and a currently unfilled position of director of relationships. Treloar said the new structure would focus on the current business opportunities and future strategy. “The intent of the structure is also to give the next level of management greater participation and input into managing our business,” he said. The role of head of commercial development, occupied by Mark Burstall for the past two years, was no longer required in future. Burstall will leave the firm in early July. “The changes will not only allow us to operate more efficiently but will place greater responsibility and add opportunities on the other levels of management, create new opportunities for promotion within and across groups but will also allow better planning for succession and reduce key-person dependencies,” Treloar said.
AustralianSuper’s appointment of a general manager, retirement to replace Shawn Blackmore, which follows ART's redeployment of Kathy Vincent to chief operating officer, shows that mega funds are back-pedalling on the strategy of having dedicated retirement C-suite executives. The role had been touted as the next big thing in super funds' organisational structures, but experts say what matters is there is senior accountability for decumulation.
Darcy SongDecember 4, 2024
