Australian Executor Trustees has hired Touchstone Group to administer its Corporate Trust division.

Part of national trust company, Australian Wealth Management, Australian Executor Trustees’ (AET) Corporate Trust division acts as a custodian for managed investment schemes, and as a trustee for securitisation and structured finance transactions. Previously administered on a number of different systems, AET has just signed a contract with Touchstone Group to package all of its software systems into one process. Scheduled to be live by the end of this year, Philip Joseph, chief executive officer of the Corporate Trust at AET, said Touchstone Client Management would allow AET to streamline a number of administration processes and improve its reporting capabilities. The software will be used to administer client relationship management, document custody systems, a diary system, accounting, electronic funds transfer payments, automate bank reconnaissance and bond registry. Joseph added that a web-based capability would make it easier for clients to access reports online. Joseph said that other software solutions the trust reviewed tended to focus on accounting or other parts of the system: “Very few had the capability to package everything into one system.”