Geoff Lloyd joins Perpetual

Former BTFG general manager advice and planning Geoff Lloyd has joined Perpetual as group executive for Perpetual Private Wealth.

Lloyd will lead the organic and inorganic growth of Perpetual's financial advice business which currently has $8.6 billion in funds under advice.

Perpetual chief executive David Deverall said Lloyd's leadership roles at BT and St George's Wealth Management businesses, as well as his earlier role with the Australian Securities and Investments Commission (ASIC) made him an ideal candidate to lead Perpetual's expanding Private Wealth business.

"Geoff's significant wealth management experience in advice, insurance, platforms and asset management is particularly relevant to Perpetual's Private Wealth business which is growing rapidly through a series of targeted acquisitions," Deverall said.

"Geoff has been a strong advocate for the value of advice and the important role advice plays in helping Australians plan for and live well in retirement."

Lloyd was named general manager of advice and private banking for BTFG in December 2008 following Westpac's acquisition of St George and the merger of BTFG with St George's wealth management business. He was originally appointed chief executive of St George-owned Asgard Wealth Solutions in 2004, having already held a number of senior roles at BTFG.

"I believe Perpetual Private Wealth's unique, fully integrated wealth management offering positions the group to achieve its ambition to become the leading provider of wealth management services to high net worth investors," said Lloyd.

"I am very pleased, together with the Perpetual team, to have this opportunity to achieve that goal. I also see terrific long-term potential growth for our clients, employees and shareholders," he added.

Lloyd replaces John Nesbitt, who left Perpetual to become Suncorp chief financial officer in December.