Introduction
Since the early 1990s, State Street has played a pivotal role in shaping the direction and success of the Australian Custodial Services Association (ACSA) contributing a rich legacy of active engagement, strategic leadership on the Executive Board, and forward thinking innovation through working group participation. This enduring partnership reflects State Street’s commitment to excellence and its vision for a resilient, progressive financial services landscape 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.
Key State Street Contributors
State Street has been a key contributor to ACSA’s success, contributing both through its leadership on the ACSA Board and its participation in working groups and projects and has been marked by the notable contributions of several key individuals:
Bryan Gray (1997–2000)
First State Street representative on the ACSA Board and Chair (1998–2000). Positioned members for the new millennium with visionary leadership.
David Travers (2001–2009)
David served on the ACSA Board from 2001 to 2009, holding the roles of Chair or Deputy Chair from 2002 to 2009. Under his stewardship, ACSA expanded its role in industry advocacy, particularly in engaging with regulatory bodies and other industry bodies. David’s leadership was instrumental in fostering collaboration between members, ensuring that ACSA developed as a unified voice in the financial sector.
Paul Khoury (2010–2013)
Paul represented State Street on the ACSA Board, stepping into the role of Deputy Chair from 2012 to 2013. Paul’s tenure coincided with significant industry challenges, including the aftermath of the global financial crisis. His strategic insights helped ACSA navigate these complexities while promoting innovation in custody and investment services.
Daniel Cheever (2014–2017)
Daniel’s tenure on the ACSA Board from 2014 to 2017 saw a continued focus on adapting to the continued change in financial services regulation. Daniel championed initiatives around operational resilience and data integrity, critical areas as the industry embraced automation and digital transformation.
Paul Toepfer (2018)
Paul represented State Street, contributing his expertise during a period of renewed focus on operational efficiency and tax reporting. His work ensured that ACSA remained at the forefront of addressing emerging challenges.
Sinclair Scholfield (2019)
Sinclair brought his extensive experience to the ACSA Board, emphasising the importance of remaining relevant as new technologies and client experiences emerged. His advocacy reflected the growing industry demand for innovation and data- driven solutions.
Jennifer Saunders (2020–Present)
Jennifer has been a driving force on the ACSA Board since 2020 and has served as Deputy Chair since 2021 and Treasurer since 2024. Her leadership during the COVID-19 pandemic underscored the resilience and adaptability of the custody and investment services sector. Jennifer has been a proponent of enhancing diversity within the industry and integrating best practice and efficiency into custody and investment operations, further solidifying ACSA’s forward-looking approach.
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 tState Street team have been recipients of the awards including:
2009 – Joanne O’Callaghan
2009 – Paul Toepfer
2014/2020 – Daniel Cheever
2019 – Janet Corstorphin
2023 – Fiona O’Sullivan
2024 – Karen Gilbert
Looking Ahead
State Street’s long-standing involvement with ACSA continues to exemplify the spirit of collaboration and leadership that has defined its role in the custody and investment services sector. Through the contribution of its leaders State Street has helped ACSA evolve into a cornerstone of industry progress – supporting its members while shaping the broader financial services landscape in Australia.
As the industry navigates rapid transformation driven by technology, regulation and changing client needs, ACSA’s partnership with institutions like State Street ensures it remains a driving force for innovation, advocacy, and excellence in custodial services. This shared commitment to resilience and forward-thinking solutions position ACSA to lead confidently into the future.
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