THERE’S AN OLD story of a traveller seeking directions from a local man. After much thought, the local replies: “To get where you want to go, I wouldn’t start from here.”
It’s a joke frequently repeated when discussing bond trustees. Stephen Norton, chairman of the loan capital committee of The Association of Corporate Trustees (TACT) and director of marketing at Law Debenture Trust Corporation, makes the point.
“If you were starting with a blank piece of paper and designing a system to accommodate trustee functions, you wouldn’t have what you have now,” he says.
Thanks for your interest in Euromoney!
To unlock this article:
