BlackRock's long-term head of asset allocation, David Hudson, has come out of semi-retirement to join Perpetual Investments in a similar role.
Mr Hudson has taken up the position of head of asset allocation in Perpetual Investments' diversified strategies team.
He parted ways with BlackRock in 2013 after 14 years as managing director/head of asset allocation and lead portfolio manager.
Mr Hudson was previously an equity strategist at BT and a senior adviser in the Office of the Prime Minister.
Perpetual Investments' head of diversified strategies, Michael O’Dea, welcomed Mr Hudson's "in-depth knowledge and experience".
"David has proven capability within asset allocation and multi-asset investment, with almost two decades’ experience in multi-asset portfolio management," Mr O'Dea said.
Perpetual Investments has also promoted head of investment markets research Matthew Sherwood to head of investment strategy within the Diversified Strategies team.
In addition, two new investment analyst roles have been created within the team to "support the team's growth".
"We continue to see growth in the demand for multi-asset products, and we are delighted that we are strengthening our team, especially with the appointments of David and Matthew," Mr O'Dea said.
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