MSC Trustees appoints two new directors

15 August 2022
| By Liam Cormican |
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Fund and financial services lawyer, Ruth McClelland, and governance and compliance specialist, Steven O’Connell, have joined MSC Trustees as non-executive directors of its board.

McClelland had over 20 years' experience as a commercial lawyer in financial services, including 15 years working in-house in senior legal, risk and governance roles for Australian and global fund managers, including Qualitas, K2 Asset Management and IFM Investors.

Her previous positions included general counsel, company secretary and head of risk and compliance for various listed and unlisted trustees, servicing both wholesale and retail clients.

O’Connell had over 30 years’ finance industry experience in life insurance, asset management, custodial services, financial planning and superannuation compliance risk management roles.

He had held board positions at numerous asset management companies including BNY Mellon and currently chairs compliance committees for a number of Australian asset managers.

MSC group managing director, Matthew Fletcher, said: “We welcome these two new appointments and the additional experience to our trustee board.

“With the new makeup of our board, we are also hopeful of becoming one of the first market recipients of ASIC’s new CCIV licence authority.

“Steve O’Connell has been such a great contributor on our trustee Compliance Committee since incorporation and was a natural choice for expansion of our trustee board. He knows our business well and brings so much experience from a larger variety of compliance and governance appointments across the industry.

“We are also delighted to welcome Ruth McClelland who brings extensive experience specific to the trustee space and funds management industry. The MSC Trustees book is diverse in terms of mandate, structures and assets and I know the board and our inhouse legal team will benefit greatly from that experience.

“We want to pay a special tribute to Mr Clifford Clayton who now retires from our business and his long-standing position on our Compliance Committee, also from inception. Cliff brought extensive experience from the senior ranks of Perpetual Trustees and we are very grateful for the experience and credentials he brought from the very early days of MSC.”

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