Perpetual's chief financial officer John Nesbitt will head the company's private wealth division following the departure of its group executive Gerard Doherty.
In September Doherty left the firm to join investment manager Fidelity as the company's managing director.
Perpetual overhauled its wealth management division bringing its Australian equities, global equities, income and multi-sector businesses in line with its private wealth and operation divisions.
"Our vision for private wealth is to be the wealth adviser of choice for financially successful Australians and we took the view that John had the right business acumen and experience to drive that vision," Perpetual's chief executive David Deverall said.
Nesbitt joined Perpetual in 2004. He previously worked at Lend Lease as a chief financial officer. He has also worked as a financial controller of wealth manager MLC when it was owned by Lend Lease.
He will move to the job as group executive private wealth in 2008.
The company is looking for a chief financial officer to replace Nesbitt.
Perpetual also announced that its funds under management was $39.4 billion for October down from $39.5 billion in September.
