Equity Trustees creates manager roles

Equity Trustees has continued to strengthen its recently restructured corporate fiduciary and financial services division with the creation of the roles of national manager and senior manager.

The company has promoted former senior manager Russell Beasley to the position of national manager, and recruited Perpetual’s former corporate trust business unit manager Kylie Holbrook as senior manager.

The restructure was part of a strategy to boost Equity Trustees’ external responsible entity (RE) services to take advantage of fund managers looking to outsource their RE capabilities. The move was spearheaded by former head of funds management Harvey Kalman, who is now head of the division.

Both Beasley and Holbrook will be responsible for expanding Equity Trustees’ growing external RE services, particularly throughout the country.

Holbrook worked for Perpetual for more than 11 years in a variety of senior management roles in fund compliance services, as well as for accounting firms in Sydney and Melbourne. She will be based in Sydney.

Kalman said he expected extra fiduciary responsibilities on fund managers in the coming year, creating further pressure on fund manager operations and making it necessary for smaller managers to outsource their RE services to improve their costs and resources.