The managing director and chief executive of Perpetual, Geoff Lloyd, will step down from his position in mid-2018.
After five years in the role, Geoff Lloyd will hand over the reins at Perpetual at the end of June 2018, according to a statement.
Commenting on the announcement, Mr Lloyd said it had been a privilege to lead the company.
“Perpetual is a profitable and growing business with a strong brand and reputation, a great team and terrific client relationships,” he said.
“We have both fixed and grown the business.
“As we started to build the company strategy for the coming three to five years, I felt I wouldn’t be able to commit over the long term and so now is an important time to hand over the leadership of Perpetual.
“I will leave as a friend and supporter of this great company.”
Perpetual chairman Tony D’Aloisio expressed his thanks to Mr Lloyd for his leadership.
“He has delivered strong results for our clients and shareholders through leadership, passion and determination to improve and grow the company,” Mr D’Aloisio said.
He added that the search for a new chief executive would be both a “consideration of internal candidates together with an external search”.
“Geoff will continue in the role of CEO until 30 June 2018 and then remain available for a handover to his successor,” Mr D’Aloisio said.
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