Following the December 2024 acquisition of Morgan Stanley at Work APAC, the team at BoardRoom has been on a mission – building a truly integrated solution delivered locally with market-leading global capabilities for Employee Share Plan Management.
As part of that journey, we’re proud to unveil the latest piece of the puzzle: our in-house Trustee Services, delivered through Pillar Custodial Services Pty Ltd, launching this 1 July.
To mark the occasion, our General Manager of Employee Share Plans, Sally Mulligan, sat down with newly appointed Head of Trustee Services, Shenali De Silva, for a behind-the-scenes look at what this means for our clients and why it matters for your business.
Here’s how the discussion unfolded.
Sally: Here we are, finally on the same team! Over the last decade, you’ve established yourself as the leading expert in Employee Share Trusts across our industry. Could you share a bit about your background and what has brought you to this role?
Shenali: Thank you, Sally. I’m absolutely thrilled to be joining BoardRoom at such a transformative time for our business and the industry.
What really excites me is the opportunity to build something meaningful from the ground up again. Back in 2010, I was part of a small, dedicated team at MUFG, formerly Link Group, that established their trust function from scratch. It was an incredible experience that allowed me to shape not just the processes, but the culture and client philosophy behind it.
Since then, I’ve worked across the spectrum of trustee operations, deepening my knowledge in governance, compliance, and client service. Now, stepping into this new role, I’m energised by the chance to apply those learnings to once again build a high performing, trusted function that supports our clients’ evolving equity needs. And doing it here at BoardRoom, where there’s such a strong alignment in vision and values, makes it even more special.
Sally: The offering will be made via Pillar Custodial Services Pty Ltd, a wholly owned subsidiary of BoardRoom Pty Ltd, and we’re officially launching on 1 July. What does the initial offering look like?
Shenali: Great question. From day one, our initial offering will focus on delivering trustee services tailored to both Australian listed and unlisted companies that operate employee share plans. This includes organisations with purely domestic plans, as well as those running global programs with cross-border complexities.
Our goal is to provide a seamless, compliant, and responsive trustee solution that integrates with the broader equity plan ecosystem. That means offering not just regulatory oversight, but also operational efficiency and a deep understanding of how to support both the issuer and their participants.
We’ve designed the service to be flexible and scalable, so whether a company is managing a straightforward Australian equity plan or a complex global arrangement with tax and holding obligations in multiple jurisdictions, we can meet their needs from day one.
Sally: I am really looking forward to our clients experiencing our new in-house offering. From your perspective, what will an “under one roof” solution offer them?
Shenali: It’s a game changer, honestly. Having all key services under one roof allows us to offer clients a more integrated and efficient experience. First and foremost, they’ll have direct access to a specialised trustee team with deep expertise across legal, tax, compliance, and regulatory matters. That kind of tailored guidance can be invaluable, especially in today’s fast changing environment.
There are also significant efficiency gains. With everything managed in house, from plan administration to trustee services, we can streamline processes, reduce duplication, and respond faster to client needs. That translates to time savings and peace of mind.
Clients will also benefit from more regular and enhanced reporting, with better data visibility and control.
And perhaps just as importantly, they’ll enjoy greater quality assurance and cost certainty, no surprises, just a well-managed, end to end solution they can rely on.
It’s all about giving clients confidence and control, while removing complexity.
Sally: What’s next for Trustee Services? What should our clients and partners be watching for in the coming months?
Shenali: We’re launching with a strong core offering under Pillar Custodial Services, focused on trustee services for employee share plans, but that’s really just the beginning.
In the months ahead, clients and partners can expect to see our capabilities expand. We’re already exploring additional offerings including nominee services, custody solutions, and escrow arrangements to support broader corporate actions and governance needs.
The goal is to build a comprehensive, future ready custodial and fiduciary solution that evolves with our clients. So, yes definitely watch this space!
With our trustee offering now in house, BoardRoom is more equipped than ever to deliver a seamless, end to end experience for companies managing employee share plans both locally and globally. We’re incredibly proud of the team behind this launch and excited about the new value we can deliver under one roof.
If you’re interested in learning more about how our Trustee Services can support your employee share plan, contact us directly.
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