Perpetual Group has announced the establishment of a global asset management leadership team which has led to changes to the firm’s executive committee, effective immediately.
Namely, its current regional asset management businesses have come together to form one global division led by a newly created role of chief executive, asset management.
As such, Perpetual Group CEO, Rob Adams, has assumed the role of chief executive, asset management, in addition to his current role.
Following its acquisition of Pendal earlier this year, the firm said it is now aiming to deliver on a “refreshed” group strategy which focuses on simplification across all businesses.
In addition, a global head of investment strategy will oversee the firm's investment capabilities, both to ensure the meeting of client requirements and to maintain the investment autonomy of each of its boutiques.
Graham Kitchen, currently chairman of Trillium and Perpetual corporate entities in the UK, has temporarily assumed the role responsibilities while a search commences for a permanent candidate.
Perpetual confirmed that Amanda Gillespie will continue to lead asset management in Australia and Adam Quaife will continue to lead global distribution. However, they will both move from the group executive committee to become members of the global asset management leadership team.
Commenting on the transition, Mr Adams said: “The changes we are making enable us to have an improved focus on our global asset management business and successful execution of strategy, while creating a simplified Perpetual Group leadership structure focused on driving future growth across all our businesses.”
The restructure has also seen two major departures including Alexandra Altinger, chief executive of JO Hambro for UK, Europe and Asia.
“Alexandra Altinger has led J O Hambro for the past four years and has been instrumental in the continued success of the business, in particular building a leading responsible and thematic investments capability and growing our European distribution footprint,” Mr Adams explained.
“I’d like to thank Alexandra for her leadership and support over the past few months following the acquisition of Pendal Group and wish her the very best in her future endeavours.”
Mr Adams further commented on the departure of David Lane, chief executive, asset management, Americas, which was first announced in May.
“Following the recent announcement of David Lane’s departure, David will now finish in the role at the end of August. I thank David for his continued support while we made this important transition,” he said.