AM Corp hires ex-Perpetual exec
AM Corporationhas a new chief operating officer in Peter Nichols who held the same role at Perpetual Investments up until last Friday.
AM managing director Trevor Howell says Nichols’s appointment completes the new revamped management team at the superannuation and investment specialist.
Howell says he is impressed with Nichols’s track record at Perpetual where fund inflows increased fourfold over three years.
“When Peter took over as chief operating officer at Perpetual Investments three years ago, they had $5 billion in funds under management; today they have $20 billion,” he says.
Howell says AM had come to the point where it believed it needed to consolidate on its skills and position in the market, and has progressively been introducing new blood into the management team with this in mind.
Nichols says he looks forward to bringing AM’s systems, processes and customer service to a new level.
Nichols has joined AM when it has $3.1 billion in superannuation and investment assets and more than 170,000 accounts.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
