Perpetual flags acquisitions in wake of key departure
Perpetual has found itself in the market for a new head of private wealth following the loss of John Nesbitt, who has been recruited by Queensland's Suncorp as chief financial officer.
The departure of Nesbitt was announced to the Australian Securities Exchange late yesterday and sees Perpetual's private wealth division in the hands of Paul Ryan and Shailendra Singh, who have been appointed acting joint heads.
Announcing the appointment of Singh and Ryan, Perpetual chief executive David Deverall said the company had a number of acquisition and organic growth initiatives underway within its private wealth division and that the pair were closely involved in those projects.
Nesbitt had previously been chief financial officer at Perpetual.
Announcing Nesbitt's appointment, Suncorp chief executive Patrick Snowball said the company had been seeking someone with the ability to drive financial strategy.
Recommended for you
ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.
