Our leaders
Our Board of Directors is appointed by the State Treasurer on behalf of the people of Victoria. The Board provides strategic guidance and controls, enabling our risks to be assessed and managed correctly.Â
Our executive leadership team is accountable to the Board for developing and implementing strategic and operational plans.
Board of Directors
Jennifer Acton
LLB(Hons), LLM, BEc, MEc, GAICD
Chair
Appointed: 01 December 2015
The Honourable Jennifer Acton is both our Chair and a Non-Executive Director. She is also Chair of CoINVEST Ltd trading as LeavePlus, and a consultant.
Previously, Jennifer was a Director in the Transport, Ports, Water and Education industries. In addition to being a leader in numerous fields, she has more than 20 years’ experience as a Presidential member of industrial tribunals and in the areas of economic and remuneration policy.
Her work with State Trustees has seen her champion our public benefit strategy and sustainability. She has overseen our business transformation to put our clients first through process improvements and technological innovation, whilst promoting initiatives that make State Trustees a preferred employer.
In 2001 Jennifer was awarded the Centenary Medal for her contribution to Australian society.
Committees: Chair of the Board, Member of the Audit, Risk and Compliance Committee and Member of the Investment Committee.
Angela Emslie AM
BEc, MBus, MAICD
Director (Non-Executive)
Appointed: 18 May 2020
Angela has a wealth of expertise in governance, strategy, superannuation and investments, having served on a range of superannuation fund and related boards for over 25 years. In addition to her role at State Trustees, Angela is Chair of Assemble and Frontier Advisors.
She is also a Non-executive Director at RGA Reinsurance Company of Australia. Previously Angela was Independent Chair at HESTA Super Fund, where she fostered a strong member-focused culture with a commitment to responsible investing.
Other tenures include Chair of Suicide Prevention Australia and a Directorship at the UN supported global investor group Principles for Responsible Investment (PRI). In 2021 she was honoured with a Member of the Order of Australia (AM) for her contribution to the superannuation sector.
Committees: Chair of the Investment Committee, Member – Audit, Risk and Compliance Committee and Member – Remuneration Committee.
Tony Clark
Bsc (Hons), MA (Comms), GAICD
Director
Appointed: 18 May 2020
Tony brings extensive communication and stakeholder management expertise delivering major infra-structure projects in the health, education, mental health, ageing and disability sectors.
Tony has also led major transformational programs in the disability sector transitioning to NDIS. Tony is an accredited trainer for the AICD Faculty, Chair of the Engagement Institute, Councillor for Hepburn Shire and Director for the International Association for Public Participation International.
Committees: Chair of the Remuneration Committee.
Vivienne Nguyen AM
MAppFin, BComm
Director (Non-Executive)
Appointed: 18 May 2020
Viv has an extensive track record as a business executive and a community leader in the corporate, community and government settings. She has held roles at AMP Asset Management and ANZ Banking Group where she was the Head of Risk for the ANZ Margin Lending portfolio and their diversity strategy.
Viv became a member of the Order of Australia for significant service to Victoria’s multicultural communities. She has played a critical role in the Victorian government’s response to the COVID-19 pandemic. Viv Co-chairs the Family Violence Multicultural Working Group and is a member of the Chief Commissioner, Victoria Police’s Strategic Human Rights Advisory Committee, amongst many other interdepartmental committees and ministerial advisory taskforces and councils.
Along with her corporate career, Viv is a tireless advocate for grassroots participation and representation, in civic engagement and community service.
She is a recipient of the Centenary Medal, Victorian Women’s Honour Roll and a member of the Chief Executive Women.
Kathryn Brown
GAICD, FGIA, FCA
Director (Non-Executive)
Appointed: 01 August 2025
Kathryn is a chartered accountant, experienced financial services executive and non-executive director.
She has held a range of executive roles across Deloitte, Henderson Global Investors and the ANZ Bank, including the areas of loan asset management and funds management.
She is a non-executive director of Housing Choices Australia, Mental Health First Aid International and the Council on the Ageing (Victoria) and chairs the Finance, Risk and Audit Committees for two of these organisations. She is the Independent Chair of the Audit and Risk committee for the Victorian Academy of Teaching and Leadership and is also an independent member of the Finance Committee of Ambulance Victoria, and the Audit and Risk Committee for Queen Victoria Women’s Centre Trust.
She currently sits on the Financial Services Credit Panel of the Australian Securities and Investments Commission and also sits on the Disciplinary Tribunal for Chartered Accountants of Australia and New Zealand.
She holds a Bachelor of Commerce from the University of Otago, New Zealand with a post-graduate diploma qualification in Corporate Governance and Risk Management, is a Fellow of the Chartered Accountants Aust & NZ, a Fellow of the Governance Institute of Australia, and a graduate of the Australian Institute of Company Directors.
Michael Daddo
BBus
Director (Non-Executive)
Appointed: 01 August 2025
Michael has extensive experience in corporate and brand strategy, Government & Stakeholder communication, behaviour change strategy and communications and governance for over 25 years.
He is currently Managing Partner at The Shannon Company a leading behaviour change communications business where he has help change societal behaviour for the better. He played key roles in Victoria’s leadership through the millennium drought, the development of WorkSafe, and more recently the creation of Respect Victoria and the prevention of violence against women, prevention of gendered violence and elder abuse. Over the last 18 years he has played a lead role with Industry Super Funds Australia in marketing and policy advocacy and the marketing of AustralianSuper and Cbus.
Prior to this he held roles as Strategic Marketing Lead for Transurban globally, founding Managing Director and National partner of M&C Saatchi, National Partner of George Patterson Bates (now WPP) and Director of Oglivy Australia.
Michael is a Director of Independence Australia a leading social enterprise providing essential products and services to help those with disability live their best life, something he is passionate about as a family with lived experience. He is Chair of the Remuneration Committee and member of Corporate Strategy Committee, which he has previously Chaired.
He has also been a Trustee of the Victorian Arts Centre where he played a key role in securing the funding for the redevelopment of Hamer Hall, and he was a Director of the Richmond Football Club sadly not in Premiership years.
Executive Team
Melissa Reynolds
BEc, M.Com, GAICD, Dip Counselling
Chief Executive Officer
Appointed: 12 July 2024
Melissa is an accomplished senior executive and non-executive director, passionate about improving outcomes for clients. She has led significant businesses of varying scales in highly regulated sectors in financial services and utilities.
Melissa has a breadth of strategic and operational leadership experience with deep expertise in customer service delivery, digital transformation and fostering client first cultures. Melissa is an inclusive and open leader who nurtures an environment of collaboration and high performance based on a genuine empathy for clients and a desire to make a positive difference in their lives.
Before being appointed as CEO, Melissa was General Manager of Trustee Services. Prior to this, she held numerous senior executive positions including as Chief Customer Officer at AGL where she led AGL’s retail division and digital transformation program and Executive General Manager NAB retail where she led the 750 branches across Australia. Melissa’s other executive roles were at Sensis, Esanda Finance and Westpac. Melissa is an alumnae of the Executive Leadership Program INSEAD France.
Josephine Brown
MBL, MAICD
General Manager, Financial Administration
Appointed: 19 August 2019
Josie leads the Financial Administration business unit at State Trustees. She has previous held senior manager and executive roles overseeing VCAT Administration, Deceased Estates, Trusts, Powers of Attorney and Professional Services.
With over 28 years of experience in the financial services industry, Josie has gained extensive expertise across diverse areas of banking and finance. Before joining State Trustees, Josie spent 14 years at NAB where she held several senior roles including Regional Executive for Retail Banking, National Sales & Marketing, and Workplace Relations.
She has a track record of driving business outcomes, continuous improvement, leading people through change and empowering others to achieve success.
Josie is also an alumna of Leadership Victoria’s Folio Community Leadership Program.
Dean Matthews
CertEng, BCompSc, GradDipMgt, AMP(Harvard), FAICD
General Manager, Technology and Transformation
Appointed: 20 November 2024
Dean leads the Technology and Transformation business unit at State Trustees. He brings a wealth of executive and leadership experience, with a proven record for leading high-performance teams and successfully delivering transformation programs in complex environments. Dean has previously held senior leadership roles across a range of sectors including retail, FMCG, manufacturing, infrastructure, and logistics.
Prior to joining State Trustees, he worked at Linfox, Australian Pharmaceutical Industries, Lion, Transurban, and Carlton & United Breweries. Currently, Dean serves as non-executive director at Bolton Clarke.
Michael Chernov
Chief Financial Officer / General Manager, Corporate Services
Appointed: 29 January 2025
Michael leads the Finance, Investments, Legal, and Risk teams at State Trustees. With over 20 years of experience in the financial services sector, he brings extensive expertise in driving business performance, financial planning, and supporting organisational transformation.
Before joining State Trustees, Michael was Chief Financial Officer at AIA Australia, where he led the Finance team in delivering financial strategies, reporting, and analysis to support organisational growth and profitability. His career has been marked by a strong focus on fostering high-performing teams, navigating complex organisational change, and delivering impactful and sustainable financial outcomes.
Michael is committed to empowering teams and ensuring that corporate services play a pivotal role in achieving long-term organisational success.
Rowena Stocks
General Manager, People and Culture
Appointed: 13 January 2025
Rowena leads the People and Culture business unit at State Trustees, bringing a wealth of experience in human resources, organisational capability, and leadership. Her career spans senior roles, including Chief People Officer, General Manager of Organisational Capability, and Founder and CEO of her own HR consultancy business.
With a strong background in leading significant organisational change, Rowena is passionate about fostering a positive workplace culture and engaging teams to drive transformation. Her down-to-earth leadership style and ability to connect with people will be instrumental in supporting State Trustees through its ongoing evolution.
Rowena is committed to building a thriving and inclusive workplace that empowers employees and strengthens the organisation’s long-term success.
Meaghan Morberger
BCom (Econ), MBA (Exec)
General Manager, Trustee Services
Appointed: 03 February 2025
Meaghan leads the Trustee Services business at State Trustees, bringing extensive experience in financial services and client partnerships. Her career includes senior roles at KPMG, Mercer, and most recently, as General Manager, Clients at MUFG Pension and Market Services.
With a strong background in achieving sustainable revenue growth and enhancing client experiences, Meaghan is passionate about building vision and inspiring performance through lasting relationships with colleagues, clients, boards, and external stakeholders. Her fresh perspectives and strategic insights to manage risks and leverage insights play a key role in strengthening client experience and delivering exceptional outcomes.
Suman Joshi
Head of Strategy and Policy
Appointed: 01 April 2023
Suman leads the Strategy and Policy team which encompasses Government Relations, Stakeholder Engagement, Client Insights and Feedback, and Communications. Suman brings over 20 years’ leadership experience across the Victorian public sector in the Victorian Government, with experience across a diverse range of portfolios including economic development, international trade and investment, and civic infrastructure.
Suman is passionate about building strong relationships with colleagues, clients, and the community, delivering sustainable responses that solve complex problems, and fostering a culture of curiosity and learning.
Suman holds the office of Chair of the Wingate Avenue Community Centre, a Neighbourhood House offering education, training, childcare, and social support for residents of the Ascot Vale Housing Estate.
Select a team
Board of Directors
Jennifer Acton
LLB(Hons), LLM, BEc, MEc, GAICD
Chair
Appointed : 01 December 2015
The Honourable Jennifer Acton is both our Chair and a Non-Executive Director. She is also Chair of CoINVEST Ltd trading as LeavePlus, and a consultant.
Previously, Jennifer was a Director in the Transport, Ports, Water and Education industries. In addition to being a leader in numerous fields, she has more than 20 years’ experience as a Presidential member of industrial tribunals and in the areas of economic and remuneration policy.
Her work with State Trustees has seen her champion our public benefit strategy and sustainability. She has overseen our business transformation to put our clients first through process improvements and technological innovation, whilst promoting initiatives that make State Trustees a preferred employer.
In 2001 Jennifer was awarded the Centenary Medal for her contribution to Australian society.
Committees: Chair of the Board, Member of the Audit, Risk and Compliance Committee and Member of the Investment Committee.
Angela Emslie AM
BEc, MBus, MAICD
Director (Non-Executive)
Appointed : 18 May 2020
Angela has a wealth of expertise in governance, strategy, superannuation and investments, having served on a range of superannuation fund and related boards for over 25 years. In addition to her role at State Trustees, Angela is Chair of Assemble and Frontier Advisors.
She is also a Non-executive Director at RGA Reinsurance Company of Australia. Previously Angela was Independent Chair at HESTA Super Fund, where she fostered a strong member-focused culture with a commitment to responsible investing.
Other tenures include Chair of Suicide Prevention Australia and a Directorship at the UN supported global investor group Principles for Responsible Investment (PRI). In 2021 she was honoured with a Member of the Order of Australia (AM) for her contribution to the superannuation sector.
Committees: Chair of the Investment Committee, Member – Audit, Risk and Compliance Committee and Member – Remuneration Committee.
Tony Clark
Bsc (Hons), MA (Comms), GAICD
Director
Appointed : 18 May 2020
Tony brings extensive communication and stakeholder management expertise delivering major infra-structure projects in the health, education, mental health, ageing and disability sectors.
Tony has also led major transformational programs in the disability sector transitioning to NDIS. Tony is an accredited trainer for the AICD Faculty, Chair of the Engagement Institute, Councillor for Hepburn Shire and Director for the International Association for Public Participation International.
Committees: Chair of the Remuneration Committee.
Vivienne Nguyen AM
MAppFin, BComm
Director (Non-Executive)
Appointed : 18 May 2020
Viv has an extensive track record as a business executive and a community leader in the corporate, community and government settings. She has held roles at AMP Asset Management and ANZ Banking Group where she was the Head of Risk for the ANZ Margin Lending portfolio and their diversity strategy.
Viv became a member of the Order of Australia for significant service to Victoria’s multicultural communities. She has played a critical role in the Victorian government’s response to the COVID-19 pandemic. Viv Co-chairs the Family Violence Multicultural Working Group and is a member of the Chief Commissioner, Victoria Police’s Strategic Human Rights Advisory Committee, amongst many other interdepartmental committees and ministerial advisory taskforces and councils.
Along with her corporate career, Viv is a tireless advocate for grassroots participation and representation, in civic engagement and community service.
She is a recipient of the Centenary Medal, Victorian Women’s Honour Roll and a member of the Chief Executive Women.
Kathryn Brown
GAICD, FGIA, FCA
Director (Non-Executive)
Appointed : 01 August 2025
Kathryn is a chartered accountant, experienced financial services executive and non-executive director.
She has held a range of executive roles across Deloitte, Henderson Global Investors and the ANZ Bank, including the areas of loan asset management and funds management.
She is a non-executive director of Housing Choices Australia, Mental Health First Aid International and the Council on the Ageing (Victoria) and chairs the Finance, Risk and Audit Committees for two of these organisations. She is the Independent Chair of the Audit and Risk committee for the Victorian Academy of Teaching and Leadership and is also an independent member of the Finance Committee of Ambulance Victoria, and the Audit and Risk Committee for Queen Victoria Women’s Centre Trust.
She currently sits on the Financial Services Credit Panel of the Australian Securities and Investments Commission and also sits on the Disciplinary Tribunal for Chartered Accountants of Australia and New Zealand.
She holds a Bachelor of Commerce from the University of Otago, New Zealand with a post-graduate diploma qualification in Corporate Governance and Risk Management, is a Fellow of the Chartered Accountants Aust & NZ, a Fellow of the Governance Institute of Australia, and a graduate of the Australian Institute of Company Directors.
Michael Daddo
BBus
Director (Non-Executive)
Appointed : 01 August 2025
Michael has extensive experience in corporate and brand strategy, Government & Stakeholder communication, behaviour change strategy and communications and governance for over 25 years.
He is currently Managing Partner at The Shannon Company a leading behaviour change communications business where he has help change societal behaviour for the better. He played key roles in Victoria’s leadership through the millennium drought, the development of WorkSafe, and more recently the creation of Respect Victoria and the prevention of violence against women, prevention of gendered violence and elder abuse. Over the last 18 years he has played a lead role with Industry Super Funds Australia in marketing and policy advocacy and the marketing of AustralianSuper and Cbus.
Prior to this he held roles as Strategic Marketing Lead for Transurban globally, founding Managing Director and National partner of M&C Saatchi, National Partner of George Patterson Bates (now WPP) and Director of Oglivy Australia.
Michael is a Director of Independence Australia a leading social enterprise providing essential products and services to help those with disability live their best life, something he is passionate about as a family with lived experience. He is Chair of the Remuneration Committee and member of Corporate Strategy Committee, which he has previously Chaired.
He has also been a Trustee of the Victorian Arts Centre where he played a key role in securing the funding for the redevelopment of Hamer Hall, and he was a Director of the Richmond Football Club sadly not in Premiership years.
Executive Team
Melissa Reynolds
BEc, M.Com, GAICD, Dip Counselling
Chief Executive Officer
Appointed : 12 July 2024
Melissa is an accomplished senior executive and non-executive director, passionate about improving outcomes for clients. She has led significant businesses of varying scales in highly regulated sectors in financial services and utilities.
Melissa has a breadth of strategic and operational leadership experience with deep expertise in customer service delivery, digital transformation and fostering client first cultures. Melissa is an inclusive and open leader who nurtures an environment of collaboration and high performance based on a genuine empathy for clients and a desire to make a positive difference in their lives.
Before being appointed as CEO, Melissa was General Manager of Trustee Services. Prior to this, she held numerous senior executive positions including as Chief Customer Officer at AGL where she led AGL’s retail division and digital transformation program and Executive General Manager NAB retail where she led the 750 branches across Australia. Melissa’s other executive roles were at Sensis, Esanda Finance and Westpac. Melissa is an alumnae of the Executive Leadership Program INSEAD France.
Josephine Brown
MBL, MAICD
General Manager, Financial Administration
Appointed : 19 August 2019
Josie leads the Financial Administration business unit at State Trustees. She has previous held senior manager and executive roles overseeing VCAT Administration, Deceased Estates, Trusts, Powers of Attorney and Professional Services.
With over 28 years of experience in the financial services industry, Josie has gained extensive expertise across diverse areas of banking and finance. Before joining State Trustees, Josie spent 14 years at NAB where she held several senior roles including Regional Executive for Retail Banking, National Sales & Marketing, and Workplace Relations.
She has a track record of driving business outcomes, continuous improvement, leading people through change and empowering others to achieve success.
Josie is also an alumna of Leadership Victoria’s Folio Community Leadership Program.
Dean Matthews
CertEng, BCompSc, GradDipMgt, AMP(Harvard), FAICD
General Manager, Technology and Transformation
Appointed : 20 November 2024
Dean leads the Technology and Transformation business unit at State Trustees. He brings a wealth of executive and leadership experience, with a proven record for leading high-performance teams and successfully delivering transformation programs in complex environments. Dean has previously held senior leadership roles across a range of sectors including retail, FMCG, manufacturing, infrastructure, and logistics.
Prior to joining State Trustees, he worked at Linfox, Australian Pharmaceutical Industries, Lion, Transurban, and Carlton & United Breweries. Currently, Dean serves as non-executive director at Bolton Clarke.
Michael Chernov
Chief Financial Officer / General Manager, Corporate Services
Appointed : 29 January 2025
Michael leads the Finance, Investments, Legal, and Risk teams at State Trustees. With over 20 years of experience in the financial services sector, he brings extensive expertise in driving business performance, financial planning, and supporting organisational transformation.
Before joining State Trustees, Michael was Chief Financial Officer at AIA Australia, where he led the Finance team in delivering financial strategies, reporting, and analysis to support organisational growth and profitability. His career has been marked by a strong focus on fostering high-performing teams, navigating complex organisational change, and delivering impactful and sustainable financial outcomes.
Michael is committed to empowering teams and ensuring that corporate services play a pivotal role in achieving long-term organisational success.
Rowena Stocks
General Manager, People and Culture
Appointed : 13 January 2025
Rowena leads the People and Culture business unit at State Trustees, bringing a wealth of experience in human resources, organisational capability, and leadership. Her career spans senior roles, including Chief People Officer, General Manager of Organisational Capability, and Founder and CEO of her own HR consultancy business.
With a strong background in leading significant organisational change, Rowena is passionate about fostering a positive workplace culture and engaging teams to drive transformation. Her down-to-earth leadership style and ability to connect with people will be instrumental in supporting State Trustees through its ongoing evolution.
Rowena is committed to building a thriving and inclusive workplace that empowers employees and strengthens the organisation’s long-term success.
Meaghan Morberger
BCom (Econ), MBA (Exec)
General Manager, Trustee Services
Appointed : 03 February 2025
Meaghan leads the Trustee Services business at State Trustees, bringing extensive experience in financial services and client partnerships. Her career includes senior roles at KPMG, Mercer, and most recently, as General Manager, Clients at MUFG Pension and Market Services.
With a strong background in achieving sustainable revenue growth and enhancing client experiences, Meaghan is passionate about building vision and inspiring performance through lasting relationships with colleagues, clients, boards, and external stakeholders. Her fresh perspectives and strategic insights to manage risks and leverage insights play a key role in strengthening client experience and delivering exceptional outcomes.
Suman Joshi
Head of Strategy and Policy
Appointed : 01 April 2023
Suman leads the Strategy and Policy team which encompasses Government Relations, Stakeholder Engagement, Client Insights and Feedback, and Communications. Suman brings over 20 years’ leadership experience across the Victorian public sector in the Victorian Government, with experience across a diverse range of portfolios including economic development, international trade and investment, and civic infrastructure.
Suman is passionate about building strong relationships with colleagues, clients, and the community, delivering sustainable responses that solve complex problems, and fostering a culture of curiosity and learning.
Suman holds the office of Chair of the Wingate Avenue Community Centre, a Neighbourhood House offering education, training, childcare, and social support for residents of the Ascot Vale Housing Estate.
