Mark Gold has today been appointed to the board of directors for ETOS Ltd, Australasia’s leading provider of expert middle and back office treasury services. Gold brings 25 years of financial market experience in the Asia-Pacific region to the ETOS board.
“Mark’s progressive outlook, diversity of treasury experience and affinity with technology add a valuable perspective to our corporate governance” said ETOS Executive Director, Richard Eaddy. “His vision and deep understanding of the treasury outsourcing model mean that he has a valuable part to play in the future of our progressive product.”
Mark Gold is Deputy Group Treasurer at Insurance Australia Group (IAG) and has served on the Board of the IAG and NRMA Superannuation Fund; a $1bn asset fund with almost 20,000 members. Prior to that, Gold was Asia Pacific Treasurer at the global Travelex Group where he managed operations in Australia, NZ and various Asian centres in a culture promoting creativity and innovation.
“I am delighted to be making this contribution to a model and business that I strongly believe in,” said Gold. “Treasury outsourcing makes economic sense and provides great comfort from a compliance and audit perspective.
“We introduced treasury outsourcing to IAG in 2009 in order to leverage back office synergies and the extensive treasury product expertise across a range of jurisdictions. We were able to increase service levels, improve controls and gain the specialist product knowledge we required, while reducing our costs by 75% to 80%.
“In the treasury sector, the pace of change can be slow. Outsourcing represents a real step change. I look forward to providing guidance and support to the ETOS team as they tackle the challenge of turning treasury outsourcing into the industry standard.”