Perpetual has refocused its efforts on its investment product distribution business with the group hiring Kyle Lidbury as general manager research and operations.
The financial services announced on Friday the former MLC and nabWealth executive would join the group.
Based in Sydney, Lidbury will begin in his new role next month.
Lidbury’s hire is part of Perpetual’s “reorganisation” of its investment product distribution, the company said in a statement.
The new business structure includes a strategic account division, a separate adviser distribution team, and the research and operations team.
The addition of Lidbury to the Perpetual team follows Jorden Brown’s appointment as general manager adviser distribution in December last year.
The position of general manager strategic accounts is expected to be announced in the coming weeks, the statement said.
Perpetual group executive private wealth and head of retail distribution Geoff Lloyd said Lidbury and his team would play an important role in improving the company’s ability to “service target segments and create deeper client relationships”.
Lidbury joins Perpetual from National Australia Bank-owned wealth division MLC, where his most recent role was MLC/nabWealth manager research relationships.
His appointment follows Anthony Aboud’s hire to the company’s equities team last week.
