Chris Ryan pushed from Perpetual and succeeded by Geoff Lloyd
Perpetual has a new chief executive, with former St George executive Geoff Lloyd stepping in to replace Chris Ryan. The company cited differences between Ryan and the Board.
The company cited differences between Ryan and the Board.
The Perpetual board announced the change to the Australian Securities Exchange today, saying that Ryan had decided to step down.
Lloyd has been group executive Private Wealth and Retail Distribution since joining Perpetual 18 months ago and was widely regarded as a future chief executive of the company.
Commenting on the appointment, the board said it believed Lloyd was ideally placed to step into the CEO and managing director role, having been closely involved in Perpetual's review of its overall business strategy over the past 12 months.
The outgoing Chris Ryan joined Perpetual in February last year.
Commenting on Ryan's departure, Perpetual chairman Peter Scott said that while the former CEO had executed some important business improvements, "it had become clear that there were differences between Mr Ryan and the Board around emphasis and execution of strategy for the immediate and longer-term".
"Over the weekend we agreed to disagree with Chris Ryan on these important issues and that he would leave Perpetual as a result," Scott said.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
