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Equity Trustees Ltd (EQT) is strengthening and renaming its funds distribution and corporate trustee services business, implementing a strategy to capitalise on its long-standing reputation and expertise in fiduciary services.

Equity Trustees Ltd (EQT) is strengthening and renaming its funds distribution and corporate trustee services business, implementing a strategy to capitalise on its long-standing reputation and expertise in fiduciary services.

Announcing the moves, Mr Robin Burns, managing director of EQT, said that the initiative will include the renaming of EQT’s fund distribution and corporate trustee services to EQT Corporate Fiduciary and Financial Services to reflect the new focus.

“Spearheading this strategy is Mr Harvey Kalman, who will become Head of Corporate Fiduciary and Financial Services.

“Our corporate fiduciary and financial services business will include all the elements for which Mr Kalman was previously responsible, and additional appointments and expansion will be announced in this area shortly,” Mr Burns said.

Mr Burns added that a major part of the company’s business development strategy is to strengthen areas where it can provide additional services to other financial services organisations, or where it expects demand for such services to increase.

Mr Kalman said that a major part of his current responsibilities is providing external responsible entity (RE) services to fund managers and that EQT will now place even greater focus on this service.

“We anticipate that the strengthening of regulations concerning REs, which is already being discussed, will lead to increased demand from fund managers for external RE services.

“Already ASIC has indicated it is looking for REs to have a stronger financial base, and such changes, along with other anticipated measures that will increase the independence of in-house REs, will place new demands on the resources of fund managers that have internal REs.

“For example, we anticipate some fund managers will no longer be able, or no longer want, to be their own responsible entity as a result of changes to the RE licensing requirements.

“Tougher RE licensing will provide better investor protection but will also lead to increased demand for external responsible entity services from trusted suppliers that will enhance the image of the products offered by a fund manager.

“Having a reputation for fiduciary responsibility and being seen as an organisation of trust will be a major asset for EQT, and we are well placed to expand our corporate trust services to other financial institutions and fund managers.

“We already act as external RE for over 40 fund managers and see this as a growing market for EQT because of our recognised specialisation and expertise in the area,” Mr Kalman said.

Equity Trustees Limited is a publicly listed company that provides a range of financial services to corporate and private clients. Its businesses include funds management, private client wealth management, responsible entity appointments, and corporate and personal superannuation. The company manages in excess of $4 billion across its funds management, private client and superannuation businesses and has in excess of $14 billion under responsible entity administration. Equity Trustees employs over 160 people across its Melbourne, Sydney and Brisbane offices.

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For more information please contact:
Robin Burns – 03 8623 5201
Harvey Kalman – 03 8623 5301

1 February 2011