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Our People

State Trustees is committed to achieving and demonstrating the highest standards of corporate governance.

State Trustees is governed by a Board of Directors, appointed by the Victorian Treasurer on behalf of the people of Victoria.

The Board provides strategic guidance within a framework of prudent effective controls that enables risks to be assessed and managed.

State Trustees Executive Management develop and implement the operational and corporate plan and is accountable to the Board for expenditure, operations and administration in accordance with strategy, policies and legal requirements.

Board of Directors

Jennifer Acton - Chair

Jennifer Acton

1 December 2015
Committees: Chair Remuneration Committee and Member Investment Committee

Experience: Professor the Honourable Jennifer Acton is the Chair and a Non-Executive Director of the Company. Jennifer is also an Adjunct Professor of Law at Monash University, the Chair of the Port of Hastings Development Authority and a consultant. She has previously been a Director in the transport, water and education industries.

Jennifer is a leading proponent of ethical and evidenced-based decision making underpinned by sound corporate culture.

She has demonstrated expertise in strategic development, continuous improvement, stakeholder engagement, collaborative conflict resolution, workplace relations and sound governance. She has been a leader in many areas, with more than 20 years’ experience as a Presidential member of industrial tribunals and in the area of national economic policy.

In her work she has championed a public benefit strategy and sustainable fee reductions, overseen contracts for port growth, instituted technological solutions to operations, lectured in employment law, facilitated major industrial outcomes and productivity improvements for the infrastructure, services and manufacturing sectors and conducted peer review of decision making.

Jennifer was awarded the Centenary Medal in 2001 for her significant contribution to Australian society.

Helen Hambling

Helen Hambling

BA, MPubPol
21 February 2017
Committees: Chair State Trustees Australia Foundation Advisory Committee and Member External Stakeholder Committee

Experience: Helen is a Non-Executive Director of the Company. Helen has worked as a senior executive for the Australian Government in areas including disability, housing, homelessness, Indigenous affairs, childcare, gambling, child protection and family services

Helen has also worked as Chief of Staff for several Commonwealth Ministers and has extensive experience in Australian public policy. More recently Helen has provided policy and communications advice as an independent consultant to governments and not for profit organisations.

From 2013 until 2016 Helen was the independent advisor to the inaugural Chair of the Board of the National Disability Insurance Agency, Dr Bruce Bonyhady AM.

Andrew Nicolaou

Andrew Nicolaou

6 December 2016
Committees: Member Audit and Compliance Committee and Member External Stakeholder Committee

Experience: Andrew Nicolaou is a Non-Executive Director of the Company. Andrew is a Senior Partner with PwC, leading the organisations Government Practice in Victoria.

Andrew is a recognised leader in Financial and Risk Management Reform, Governance and Performance in the Public Sector and has significant experience with Government and Private Sector Boards, Audit & Risk Committees. Andrew has a strong knowledge of financial management, risk and regulatory frameworks and is a highly regarded subject matter expert across Australian Government jurisdictions.

Andrew has a Bachelor of Economics and has undertaken a postgraduate course with INSEAD; he is also a graduate of the Australian Institute of Company Directors and a Certified Internal Auditor. He is a Fellow of the Institute of Chartered Accountants and the Institute of Public Administration Australia and a member of the Risk Management Institute of Australia.

Theo Theophanous

Theo Theophanous

BA (Hons)
4 December 2017
Committees: Member Investment Committee and Member External Stakeholder Committee

Experience: The Honourable Theo Theophanous is a Non-Executive Director of the Company. Theo is a former Victorian Government Minister, who has held a number of senior portfolios. He brings to the Board a range of skills in governance, accountability, strategic thinking and negotiation.

Highlights of Theo’s Ministerial career include: as Energy and Resources Minister, introduced the Victorian Renewable Energy Scheme, construction of Basslink and largescale wind facilities. As Industry and Trade Minister, negotiated packages to bring Etihad, Qatar and other airlines to Victoria, hybrid car production and largescale investment. As Major Projects Minister, developed AAMI stadium, Major Hospitals, Recital Centre and a range of other projects. As ICT Minister, helped bring IBM to Ballarat, supercomputer to Melbourne University and investment in the digital economy.

Theo served on the Board of NICTA and steered the transition to Data61 as part of CSIRO. He is currently on the Board of the Victorian Planning Authority and is a specialist advisor to a number of CEO’s in the private sector. Theo is a media commentator, has written many articles published in mainstream media, especially the Herald Sun, and actively advocates for Diabetes awareness.

Pam Mitchell

Pam Mitchell

B.Bus, Dip Fin Services, CA
3 December 2013
Committees: Chair Investment Committee and Member Audit and Compliance Committee

Experience: Pam is a Chartered Accountant with extensive experience in the start-up, financial planning and financial management of superannuation funds in a range of small and medium-size enterprises in the corporate, government and not-for-profit sectors.

Pam has held many board roles and has been Chief Financial Officer and Company Secretary of a number of investment and property businesses. Pam is currently a director of Fed Square Pty Ltd and is on the Audit Committee of Department Economic Development, Jobs, Transport and Resources and Chairs the Audit and Risk Committee of The Australian Radiation Protection and Nuclear Safety Agency.

Cressida Wall

Cressida Wall

LLB(Hons), BA(Juris)
1 December 2015
Committees: Chair External Stakeholder Committee and Member Remuneration Committee

Experience: Cressida Wall is a Non-Executive Director of the Company. Cressida has 15 years experience leading long term strategy and leadership experience at senior levels in the public sector.

Cressida is currently the Executive Director of the Property Council of Australia (Victoria). She has extensive Government and public policy experience gained through working as Head of Policy Development for former Premier John Brumby; Chief of Staff to Tim Pallas MP, former Minister for Roads, Ports and Major Projects; Senior Infrastructure Adviser to former Premier Steve Bracks; Chief of Staff to former Deputy Premier and Treasurer of South Australia; and Chief of Staff to the former Attorney General of South Australia.

Cressida has also worked as a Solicitor for Corrs Chambers Westgarth and Minter Ellison.

Cressida has a Bachelor of Laws (First Class Honours), Graduate Certificate in Legal Practice and Bachelor of Arts (Jurisprudence).

Mark Toohey

MAppFin, BBus (Acctg), FCA, FCPA
1 December 2015
Committees: Chair Audit and Compliance Committee, Member Investment Committee and Member Remuneration Committee

Experience: Mark Toohey is a Non-Executive Director of the Company. Mark is also the Chief Financial Officer and Company Secretary for ANZ Terminals Pty Limited.

Mark was previously Chief Financial Officer for Chandler Macleod, Executive Director and Chief Financial Officer for GE Capital in Asia and Australia, and held executive finance roles at ANZ Banking Group. He is currently a Councillor and the Finance and Investment Committee Chair for Victoria University. He recently retired as a Director and Finance Committee Chair of OC Connections, a not for profit that provides support individuals with intellectual disability.

Mark has a Masters of Applied Finance and Bachelor of Business (Accounting). He is a Fellow of the Institute of Chartered Accountants Australia, a Fellow of CPA Australia and a graduate member of the Australian Institute of Company Directors

Executive Team

Matt Carrick - CEO State Trustees

Matt Carrick

Chief Executive Officer
BComm, BA
29 October 2018

Prior to joining the organisation, Matt was the Deputy Secretary for Investment and Economic Projects in the Victorian Government’s Department of Economic Development, Jobs, Transport and Resources.

Matt has a mix of public and private sector experience, spending the last decade in the public sector contributing towards building the prosperity of the state through economic development outcomes.

As a purpose driven leader, Matt has a demonstrated track record of achieving outcomes, delivering organisational change and transforming workplace culture.

Matt has completed the Victorian Leadership Development Centre Executive Leadership Program. He was awarded an IPAA Fellowship in 2018.

Sandhya (Sandy) Chakravarty – Chief Financial Officer, Company Secretary

Sandhya (Sandy) Chakravarty

Chief Financial Officer, Company Secretary

Appointed: 23 May 2017

Sandy is responsible for the financial, investment, procurement, internal audit ,and risk and the charitable trust functions of the organization. She is also the Company Secretary.

Sandy is a strategic leader with an executive and non-executive career of more than 25 years spanning Australian and international organisations including Australian Red Cross, Boston Consulting Group, Bristol-Myers Squibb and Ingersoll-Rand.

Sandy currently serves as the Chair of the Audit and Risk Committee at the Southern Metropolitan Cemeteries Trust and a Trust member. She is also a Board member of the International Women’s Development Agency. Sandy’s previous Board experience also includes Link Community Transport, Eating Disorders (Vic), the National Association of Women in Operations and Australian Red Cross Blood Service.

Karen Jones – Acting Chief Operating Officer

Karen Jones

Acting Chief Operating Officer

Appointed: 19 March 2018

Karen Jones was appointed as Acting Chief Operating Officer on 19 March 2018 and leads the Strategy, Information Services and Enterprise Portfolio Management Office teams as well as a new affordable housing function.

Originally, Karen was brought into State Trustees to lead the design, development and implementation of the operating model for the administration of a new Victorian Government-led $50m shared equity scheme to provide affordable housing.

Prior to working at State Trustees, Karen worked as a management consultant at the Bevington Group, specialising in organisational transformation. Karen led numerous operating model redesign, policy transformation, process improvement and change management assignments across a range of industries including government, health, banking, insurance, education, defence and not for profit. Karen also has more than 10 years’ experience in banking. At ANZ, Karen had a very successful career with roles in project management, operations and finance.

Karen is currently the chair of the Gender Equity committee for the Salvation Army and a member of University College’s Finance and Risk committee. Karen is also a Lean Six Sigma Black Belt.

Josie Brown – Acting Executive General Manager, Client Services

Josie Brown

Acting Executive General Manager, Client Services
12 July 2018

Josie Brown is the Executive General Manager responsible for Client Services; including VCAT Administration, Deceased Estates, Trusts and Powers of Attorney. Prior to her appointment in this role, she was the Executive General Manager for Professional Services.

She has experience across a diverse range of banking and finance areas, as a result of 24 years of experience in the Financial Services Industry.

Josie has been employed with State Trustees for the past 10 years, joining in 2007 as a Senior Manager for the Personal Financial Administration division. Since joining, Josie has carried out a number of Senior Manager positions across the organisation and has been a key contributor to State Trustees business transformation program.

In 2015, Josie was recognised for her excellence in leadership, having been a State Finalist at the Australian Institute of Management excellence awards.

Josie is an alumnus of Leadership Victoria’s, Folio Community Leadership Program.

Karen Spiteri – Acting Executive General Manager, Professional Services

Karen Spiteri

Acting Executive General Manager, Professional Services
BBus (Acctg), CIA, MBA (Expected 2019)
12 July 2018

Karen Spiteri is the Acting Executive General Manager responsible for Professional Services including client legal, taxation, financial planning, property, pensions, genealogy, executor services and will and power of attorney preparation.

She is an accomplished finance leader with 20 years’ experience in senior roles across the financial services and transportation industries such as Transurban and Ford Motor Company.

Karen joined State Trustees in June 2014 and as the head of Audit & Risk she established an enterprise approach to risk management, revised approach to assurance aligning with client outcomes and a co-sourced internal audit model. Since joining State Trustees, Karen has also led our complaints, compliance and the examination service which we provide for the Victorian Civil and Administrative Tribunal.

Karen is a certified member of the Institute of Internal Auditors, Project Management Prince2 accredited, Certified Lean Six Sigma and an alumnus of Leadership Victoria’s Folio Community Leadership Program.

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