John Sevior not returning to Perpetual
Following news that former Perpetual head of equities John Sevior will not be returning to his role, the company has announced the appointment of a new head and deputy head of equities at Perpetual Investments.
Commenting on Sevior's departure, Perpetual group chief executive equities Cathy Doyle said the stock-picking expert would explore a new venture in 2012.
"It's now time for me to set some new challenges outside of Perpetual," Sevior said.
Stepping into the head of equities role is Matt Williams, the long-serving portfolio manager of Perpetual's Australian Share Fund and the Pure Value Share Fund.
Meanwhile, Charlie Lanchester (currently the lead portfolio manager of Perpetual's Sustainability Fund), will take on the deputy head of equities position.
"Williams and Lanchester have worked together closely over the years. They form one of the strongest investment leadership teams in the market," said Doyle.
Recommended for you
Advisers at DOD Bookkeeping, which received an $11 million penalty last week, received as much as 40 per cent of their remuneration via a bonus when clients purchased a property via a SMSF, according to court documents.
Private wealth manager Escala Partners has launched an end-to-end investment platform to strengthen its alternatives capability as clients seek sophisticated vehicles.
Perpetual Wealth Management has hired two advisers from Ord Minnett as part of five hires, just weeks after the rival firm announced it had picked up six from Perpetual Private.
ASIC has cancelled the AFSL of a Perth financial services firm following payments to its clients by the Compensation Scheme of Last Resort after a failed managed investment scheme.
