The supervisor of Australia’s largest-ever backoffice transition has transferred himself, from National Custodian Services (NCS) to the top job at ANZ Custodian Services.
Geoff O’Callaghan will take the helm of ANZ Custodian Services from Michael Campbell, who has been acting in the role since Karl Mattingly left after a brief period running the business late last year. O’Callaghan was a veteran NCS staffer who headed the team responsible for transitioning MLC’s longstanding master custody relationship with State Street Investor Services over to NCS. That transition become official last May, 21 years after State Street began servicing MLC, and seven years since the multimanager was bought by NCS’ parent, National Australia Bank. With the transition having recently become complete, O’Callaghan will not be replaced at NCS following his move to ANZ. Meanwhile, ANZ Custodian Services head of sales and account management, Angelo Calvitto, has resigned from the business and said he would finish up in the next three or four weeks. He said he was considering his next move.
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Investments
The $80 billion Mercer Super has delivered a fourth consecutive year of double-digit returns to most members of its SmartPath lifecycle product. Global equities did a lot of heavy lifting, but chief investment officer Graeme Miller tells Investment Magazine that the fund is now looking further afield for returns.






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