Incoming Perpetual chief executive Bernard Reilly has form in bringing big lumbering organisations together.
Former Australian Retirement Trust boss Bernard Reilly will take charge as Perpetual’s new chief executive Picture: Dylan CokerHis first task in his new job will involve pulling one apart.
Its here that Reilly, the well-regarded former Australian Retirement Funds boss, will face the ultimate test. The name of the game is all size, with bulk needed in the face of increasing competition from cheap index-style funds as well as big super funds taking their management teams in-house. Then there’s the structural pressures as big super starts moving into an era of draw down phase as their members start hitting retirement in bigger numbers.
Reilly is a one-time State Street executive and came from the SunSuper side. His time overseeing ART wasn’t all internal focused on the merger, he set about winning plum corporate super mandates from the likes of Commonwealth Bank and Woolworths.
Chief Executive Hamish Douglass Lumbering Organisations Needs Shareholder Approval Asset Management Arm Hitting Retirement Super Test Sophia Rahmani Tax Treatment Commonwealth Bank Of Australia Pure Play Asset Takeover Sights Shareholder Vote Eric Johnston Merger Proposal Funds House Trade A Perpetual Fund Managers Street Executive Wealth Manager Tough Time Blue Chip House Northern Europe Europe Separation Expenses Rob Adams United Kingdom Demand Performance Private Equity Player Investment Mandates Wealth Business Pure Play Play Asset Managers Implied Earnings Multiple Industry Funds Boss Bernard Reilly Fund Outflows Industry Funds Guaranteed Fund Flows
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