Exec board announced for proposed Pendal/Perpetual acquisition
Perpetual has announced the notional appointment of the executive committee that will lead the combined group following the proposed acquisition of Pendal.
While the pair had run into some controversy lately, the acquisition was proceeding to plan with Perpetual announcing on Wednesday the appointment of an executive committee to lead the combined group.
“Assuming all the key conditions to the transaction are met, including Pendal shareholder approval in December, these changes will take effect from the completion date of the transaction which is targeted for January 2023,” Perpetual said.
The combined group would be led by Perpetual’s chief executive and managing director, Rob Adams, the firm confirmed.
“Since the acquisition announcement, we have worked to identify a structure and leadership team with the appropriate capabilities and experience to take the company forward and deliver on our global growth ambitions from day one,” Mr Adams said.
“These appointments will reflect the expansion of our asset management business across key regions globally, supported by a dedicated global head of distribution; the continued importance of Perpetual Private and Perpetual Corporate Trust; and the central functions that are critical to a successful global business.”
Adams explained that the asset management business will be structured across three key regions: Australia, the Americas, and Europe, the UK and Asia.
Amanda Gillespie would lead the asset management business in Australia, David Lane would lead the asset management business for the Americas and Alexandra Altinger would lead the UK, European and Asian asset management business.
Adam Quaife had been named as chief distribution officer, Paul Chasemore would join the executive committee as chief people officer and Sam Mosse would take on the broader role of chief risk and sustainability officer.
Meanwhile, Mark Smith would continue to lead Perpetual Private and Richard McCarthy would continue to lead Perpetual Corporate Trust,
They would join CFO Chris Green and chief integration officer Amanda Gazal to complete the new executive committee. Gazal would return to the role of COO once the integration had been completed.
This article previously appeared on Money Management's sister publication Investor Daily.
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