Lloyd to step down from Perpetual

Perpetual chief executive Geoff Lloyd would step down in mid-2018 after more than five years in the role, the fund manager announced yesterday.

In a statement, the company said Lloyd had timed his exit from Perpetual to ensure a smooth handover to his successor, who was yet to be announced.

“As we started to build the company strategy for the coming three to five years, I felt I wouldn’t be able to commit over the long term and so now is an important time to hand over the leadership of Perpetual,” he said.

“I will leave as a friend and supporter of this great company.”

He added it had been a privilege to lead the fund manager through a period of growth and improvement.

“Perpetual is a profitable and growing business with a strong brand and reputation, a great team and terrific client relationships,” he said.

Perpetual chairman Tony D’Aloisio expressed his thanks for Lloyd’s leadership and commitment to the company.

“He has delivered strong results for our clients and shareholders through leadership, passion and determination to improve and grow the company,” D’Aloisio said.

In other appointment news, ANZ-aligned dealer group Elders Financial Planning (EFP) has signed a new practice, with Victorian adviser Luke Sheehan and his firm, Strategic Guidance Group, coming on board.

EFP head Tony Beaven said Sheehan, who specialises in financial planning services for individuals and businesses, would further strengthen the group’s strategic presence in Victoria.

Sheehan added he was also looking forward to integrating his business into EFP’s offering and bringing financial advice to more Australian communities.

Additionally, the advice group announced it had appointed former Crosby Dalwood and People’s Choice Credit Union adviser and paraplanner Michael Payne as its new national practice development coach.