Perpetual Investments (ASX: PPT) announced today that it is switching up its high-level equities management team to reward performance and put Perpetual further down the path of successful succession planning.
At the top of the pyramid, familiar face Matt Williams will continue to lead, with long-term team member Paul Skamvougeras by his side. Skamvougeras has managed three of the companies’ funds, all of which have “significantly outperformed” their benchmarks in recent years.
As a potential nudge in a new direction, Nathan Parkin will be heading over from Perpetual’s Ethical Socially Responsible Investing (SRI) fund to co-manage the Industrial Share Fund. Not only did Parkin’s ethical investments deliver top-notch returns, but they also won the company several industry awards.
All the new appointees have 16 years or more of experience in the industry, with at least six of those spent with Perpetual.
According to Group Executive of Perpetual Investments Michael Gordon, “We pride ourselves on the depth and strength of our investment team and are pleased to recognise some key team members for their exceptional track record and contribution to Perpetual Investments over many years.”
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Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.