The Trust Company's business review improves staff incentives

The Trust Company has changed its performance framework and staff incentive program as part of an overall business review.

The company has engaged in a new branding and business review exercise in line with the Future of Financial Advice reforms.

Chief executive of The Trust Company John Atkin said the name and branding change was timely following the global financial crisis and the demand for independence and transparency across the financial services sector.

He said a recent review of the business had resulted in a greater client-centred approach rather than a product-centred approach, in line with the expectations of the Future of Financial Advice reforms.

“Our own process of transformation has allowed us to refocus our business to service the needs of our clients within this new setting,” said Atkin.

He said the business review included changes to its performance framework and staff incentive program, which took greater consideration of long-term shareholder and client interests.

“Our incentive programs are designed to reward staff for meeting their performance targets, which is crucial to our move to deepen our client relationships,” said Atkin.

The Trust Company offers wealth management, personal and commercial banking, and brokerage services.