Public Trustee - Public Trustee Board

Public Trustee Board

The Public Trustee is a Government Business Enterprise owned by the Government on behalf of the Tasmanian Community. It is established under the Government Business Enterprises Act 1995.

The Board of the Public Trustee is responsible to the Treasurer and the Attorney General for managing and conducting the business and affairs of the Public Trustee in accordance with sound commercial practice. It ensures that the Public Trustee performs its statutory obligations.

In carrying out its responsibilities, the Board:

· sets the strategic direction of the organisation;

· secures and monitors organisational performance;

· ensures compliance with statutory requirements; and

· manages risk.

The Board currently comprises five independent Directors and one Executive Director. Directors are appointed by the Treasurer and the Attorney-General on the recommendation of the Board. Directors are selected on the basis of their complementary skills and ability to add value to the Board.

A number of committees have been established to assist the Board in carrying out its functions and responsibilities.

One of the major responsibilities of the Board is to manage risk, not only in the interest of the Public Trustee, but also to protect the interest of its clients. The Audit Committee is responsible for monitoring corporate risk assessment processes and controls and the establishment of, and ongoing compliance with, an internal risk control framework.

The Public Trustee manages large sums of money on behalf of its clients. It has established an Investment Committee which also has responsibility for the oversight of the organisation's investment review processes to ensure that appropriate client investment decisions are made. Clients are assured that the Public Trustee has the necessary safeguards in place to protect their interests.

Given that the Public Trustee is a business operating in a commercial environment, marketing initiatives play an important part in developing its business. The Marketing Committee comprises Directors with marketing expertise. It provides advice and recommendations to the Board in relation to marketing strategies and promotional activities which underpin the strategic direction of the business.

These arrangements ensure that the Public Trustee has the appropriate governance structures in place to ensure that it operates as a successful Government Business Enterprise in a competitive commercial environment.

Directors of the Board

	Ann Cunningham LLB (Hons.) Chairperson Board Member April 2000 Chairperson of the Board May 2004 Member of the Audit Committee Member of the Investment Committee Graduate member of the Australian Institute of Company Directors Ann Cunningham is a barrister and solicitor, an accredited mediator and arbitrator. She is also Senior Member of the Administrative Appeals Tribunal and Presiding Member of The Resource Management and Planning Appeals Tribunal.
	Peter Maloney LLB Executive Director Board Member August 1996 Chairperson of the Board 2001-2003 Chief Executive Officer February 2003 Member of the Investment Committee Member of the Marketing Committee Graduate member of the Australian Institute of Company Directors Prior to being appointed CEO of the Public Trustee in 2003 Peter was a Senior Executive with the Department of Justice. Mr Maloney's CEO role is complemented by his understanding of the Public Trustee gained during his tenure as a Board Director since 1996 including 2 years as Chairperson. Peter is a barrister and solicitor and he is also a member of the Salvation Army Advisory Committee.
	John Fisher Board Member August 1996 Chairperson of the Investment Committee Graduate member of the Australian Institute of Company Directors Mr Fisher has an extensive government and private sector background in the banking and financial services. John's understanding of financial markets and investment principles is particularly valuable to his role as Chair of the Public Trustee's Investment Committee which monitors the performance of the Common Fund and Group Investment Funds.
	Beth Mathison BA Grad.Dip. IR & HR MBA Board Member March 2007 Chairperson of the Marketing Committee Graduate member of the Australian Institute of Company Directors Ms Mathison's marketing, strategic management, business improvement and human resource skills have been gained during the course of her extensive career in private industry. As Chair of the Public Trustee's Marketing Committee, Beth has overseen a significant rebranding of the profile of the organisation including an extensive media campaign.
	Craig Stephens BCom Board Member October 2004 Member of the Audit Committee Graduate member of the Australian Institute of Company Directors Mr Stephens is a Chartered Accountant. His background in corporate accounting, risk management and auditing provide an important contribution to the Board skill set. Craig is a key contributor to the Board's budgeting and financial management processes.
	Elizabeth Thomas BA Public Trustee 1994-1996 Chief Executive Officer 1996-2003 Board Member September 1995 Chairperson of the Audit Committee Member of the Marketing Committee Graduate member of the Australian Institute of Company Directors Ms Thomas has over 25 years of trustee industry experience gained during her career in the public and private industry sectors. Elizabeth's industry knowledge is complemented by her professional skills in corporate governance, organisational development and strategic planning. Elizabeth is a Director of Common Ground Tasmania.

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The information on this website does not constitute advice by the Public Trustee and if you require advice you should contact the Public Trustee.