Perpetual Investments names new Exec Director

Perpetual Equity Investment Company Limited (PIC) has announced that Perpetual's CEO and managing director, Geoff Lloyd, will step in as Perpetual Investment's new executive director following the departure of David Kiddie.

Lloyd joined Perpetual in August 2010 as group executive of Perpetual Private and led the development and implementation of the growth strategy for this business. He took on additional responsibility as head of retail distribution in September 2011 and was appointed managing director and CEO in February 2012.

In a statement to the ASX, PIC said: "The board has thanked Mr Kiddie for his work, and welcomes Mr Lloyd as an Executive Director and looks forward to his contribution to PIC's development."