In March this year Latitude Financial Services, a financial service provider with approximately 2.5 million customers in Australia and New Zealand, launched Australia’s first public credit card Master Trust. The transaction was worth approximately A$1.1 billion across seven tranches.
The credit card Master Trust structure is a well-established securitisation vehicle in many overseas markets, but not yet used in Australia.
One significant benefit of the structure is an accelerated issue of ‘bullet’ bonds. Many international investors are familiar with the Master Trust structure - opening up a broader range of potential investors for Latitude.
Perpetual Corporate Trust worked closely with Latitude to implement this new Master Trust structure. In this video interview we talk to experts from Latitude and Perpetual about what it takes to launch a new product of this scale and complexity into the Australian market.
If you would like to discuss a new business proposal, please contact our Sales and Relationship Management team.
Richard joined Perpetual in 2007 as Director Sales and Relationship Management, and has been General Manager Sales & Relationship Management, Product & Strategy and Marketing since 2011.
Richard has more than 23 years’ experience in banking and financial services, with deep sector knowledge in debt capital markets and managed funds.
Prior to joining Perpetual, Richard was the Vice President, Head of Relationship Management at BNY Mellon’s Corporate Trust Division in Sydney and previously spent eight years at JP Morgan in London.
Richard is a Director of the Australian Digital Commerce Association.
Kevin Hill is a Senior Sales and Relationship Manager in the Perpetual Corporate Trust team. Kevin is responsible for business development and relationship management focussed on the debt capital markets and data services.
Kevin has built strong relationships and accumulated many years of experience working in sales and relationship management roles for financial institutions in Australia.
Prior to joining Perpetual, Kevin managed ADI relationships at FIIG Securities, government clients at NSW Treasury Corporation and wholesale corporate and institutional clients at Societe Generale, Goldman Sachs, JB Were and the Commonwealth Bank.
Greg White is Senior Sales & Relationship Manager and is responsible for business development and relationship management primarily within the debt capital markets.
Greg has deep expertise and relationships in this segment having worked with Perpetual Corporate Trust for over 14 years in the Corporate & Structured Finance team, Transaction Management and most recently in the Sales & Product team as Product Manager, overseeing new markets and product development.
Prior to working at Perpetual Greg worked at ANZ Institutional Bank in relationship management and credit analysis, Bendigo Bank and Monte Dei Paschi Di Siena (Italian Merchant Bank).
Greg has over 21 years’ experience in the banking and financial services sector.