Perpetual appoints Sean Roger as co-portfolio manager

The news: Investment manager Perpetual has elevated Sean Roger to the role of co-portfolio manager of the company, to work alongside Vince Pezzullo.

The numbers: Roger will assume the role with immediate effect. He joined Perpetual’s equities investment team in 2014 and was appointed deputy portfolio manager for the Share Plus Long-Short Fund and the Pure Equity Alpha Fund in 2021 and 2022 respectively.

Perpetual shares are down 0.6% to $19.31 in early trading.

The context: Chair Nancy Fox said the decision reflected Perpetual’s longstanding commitment to succession planning and promoting within. “This appointment strengthens the management of the PIC portfolio and we are confident in Vince, Sean and the broader Perpetual Australian equities investment team’s ability to identify the opportunities to generate returns for our PIC shareholders,” she said.

The fund manager last month reported a 65% slide in first-half net profit due to an impairment on its asset management business, as well as one-off costs related to the termination of its proposed takeover by private equity group KKR.