Big changes at Perpetual

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Perpetual has made a key executive appointment in its wealth advice business, as the company sets out its growth plans.

Mark Smith has taken up the role of group executive of Perpetual Private, which encompasses the group’s private client, fiduciary, Fordham and philanthropy offerings.

Smith was appointed earlier in the year and will take over from acting group executive Nick Langton, who will revert to his role of GM, Private Client Advice.

“With our Transformation 2015 strategy now well underway and the Perpetual Private business building a truly differentiated high net worth offer, Mark’s considerable experience will provide the leadership team with invaluable insight into how we can extract greater benefits from our strong market position,” said Perpetual CEO Geoff Lloyd.

“Throughout 2012, the Perpetual Private team, under the guidance of Nick, has continued to pursue a number of initiatives to build on the scale and advocacy we have within the wealth advice business, as well as extend into new activities where we hold a competitive advantage.”

Commenting on his appointment, Smith noted that Perpetual Private’s growth strategy was putting the business in a strong position to accelerate its growth when investor sentiment improves, but added that there were still key objectives to be achieved.

“Our objective must be to reap the benefits of the investments made, starting with the modernisation of the business’ client service and product offering via Project ICE,” he said.

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