Perpetual rings executive leadership changes
Make us a preferred source
Make us a preferred source on Google
The news: Investment manager Perpetual has unveiled a number of executive leadership changes, as it prepares to become a standalone asset management business following the sale of its corporate trust and wealth management segments to private equity firm KKR.
The context: Perpetual's current chief operating officer (COO) Craig Squires will move to the role of executive, transitional services, responsible for "transition related services" that fall under Perpetual's transitional services agreement with KKR.
James MacNevin, previously head of Asia Pacific at State Street Global Advisors, will take on the COO role.
Perpetual's chief risk and sustainability officer Sam Mosse will leave the group in 2025, with Allan Lo Proto appointed as chief risk officer (CRO). Lo Proto has been head of business management in the US for the last two years, and will continue to fulfil his US business oversight role alongside his CRO responsibilities.
What they said: "These changes are a first step in positioning Perpetual to become more efficient and to be a standalone, global, multi-boutique asset management business following the successful completion of the acquisition of wealth management and corporate trust by KKR," Perpetual CEO and managing director Bernard Reilly said.
"We are evolving our leadership model with an emphasis on relevant asset management expertise, clearer lines of accountability, agility and faster decision making in the service of our clients.
"We plan to, over time, keep our central group functions small and maintain regional support where it helps our business growth or there are clear scale advantages."
The source: ASX announcement
