HSBC's Involvement in ACSA

 

 

Introduction 

HSBC has played a pivotal role in the Australian Custodial Services Association (ACSA) since 2007, following its acquisition of Westpac’s custody business in 2006. Westpac, as one of the inaugural ACSA board members and a signatory to the ACSA Constitution in 1995, laid the groundwork for HSBC’s continued involvement in advancing the custodial services industry.
Over the years, HSBC has contributed significantly to ACSA’s mission of enhancing the standards, professionalism, and operational resilience of custodial services in Australia.

 

ACSA's Role and Achievements  

ACSA serves as a cornerstone in the custody and investment administration industry in Australia. It aims to enhance the standards and practices within the sector, providing a platform for industry collaboration and advocacy. Over the years, ACSA has accomplished several milestones, including:

• Advancing Industry Standards: From its inception, ACSA has been at the forefront of establishing best practices for custody and investment administration services. These standards have helped ensure consistency and reliability across the industry, benefiting both service providers and their clients. 
  
• Advocacy and Policy Influence: ACSA has been an active advocate for its members, engaging with policymakers to shape regulatory frameworks that support the growth and stability of the custody and investment administration sector. Its input has been instrumental in crafting regulations that address issues such as risk management, data security, and asset protection. 
  
• Technological Integration: Recognising the transformative potential of technology, ACSA has championed the adoption of digital tools and platforms. Initiatives such as electronic reporting standards and blockchain-based asset tracking have positioned its members at the cutting edge of innovation. 
  
• Member Engagement and Education: ACSA’s commitment to its members is evident in its extensive range of training programs, workshops, and conferences. These events provide valuable opportunities for knowledge sharing and professional development, ensuring that members remain well-equipped to navigate industry challenges. 
  

 

HSBC’s Contributors

Securities Services at BNP Paribas has played a prominent role in ACSA’s success, with several key executives contributing significantly to the association’s governance and initiatives:

John Butler (2007–2010)
John’s contributions laid the groundwork for several operational enhancements within the industry. Serving as Treasurer in 2010, John ensured that the association's fiscal approach supported its long-term objectives.

Andrew Bastow (2011–2014)
Andrew played a crucial role during a period of regulatory evolution, helping ACSA navigate complex changes and ensuring member alignment with compliance and governance standards.

Sandra Powell (2015)
Sandra’s tenure was characterised by a focus on promoting initiatives that broadened ACSA’s industry engagement and solidified the growth and contribution of ACSA to the industry.

Peter Snodgrass (2016–2019)
Peter championed innovation and technology advancements, working to position ACSA at the forefront of custody and investment administration change. His leadership helped promote technology outcomes, improving operational efficiency across the industry.

Harpreet Ahuja (2020–2021)
During a challenging period marked by the global pandemic, Harpreet demonstrated resilience and adaptability, guiding ACSA’s efforts to maintain continuity in operations across the industry

Sinclair Scholfield (2022–2023)
As Treasurer in 2023, Sinclair Scholfield reinforced financial transparency and accountability while spearheading initiatives to improve industry focus on digital asset and crypto transformation.

Janelle McCoy (2024–Present)
Janelle McCoy continues to build on this legacy, focusing on improving ACSA member engagement and programs to underpin industry development. Her approach aligns with the evolving priorities of custody and investment administration industry.

 

ACSA Award Winners

Each year ACSA issues awards for contribution to the industry.
The ACSA Awards affirm the industry’s desire to recognise outstanding individual contribution. Several members of the HSBC team have been recipients of the awards including:

2009/2013 – Sandra Powell
2015 –Alvaro Martinez
2018 –Gregory Wilkins
2020 – Siv Vijayanathan
2021 – Jodie Bosler

 

HSBC’s Legacy

HSBC’s acquisition of Westpac’s custody business in 2006 marked the beginning of an influential partnership with ACSA and HSBC continues to demonstrate its commitment to the custodial and investment administration industry. Over the past two decades, HSBC’s involvement, through leadership, collaboration, and innovation, has shaped ACSA’s strategies and achievements, ensuring the association remains robust, forward-looking, and globally competitive.

Through its dedicated executives and unwavering support, HSBC has upheld a legacy of excellence within ACSA, contributing to the sustained growth and development of the Australian custody and investment administration industry.