Perpetual Chair to step down

Perpetual Limited has announced the departure of long-standing chair, Peter Scott, who will retire from his role, effective 31 May 2017.

Scott joined the Perpetual Board in 2005 and became chair in 2010. He has more than 20 years' senior business experience in publicly listed companies having formerly been the CEO of MLC, an executive general manager of National Australia Bank and held a number of senior positions with Lend Lease.

He is to be succeeded by Tony D'Aloisio.

Commenting on Scott's departure, D'Aloisio said: "Peter Scott has done an outstanding job and I am eagerly anticipating our time together as I transition to be chair of Perpetual next year."

Scott added: "I am confident Tony will be a real asset for Perpetual, with his extensive experience in financial services and having been a CEO of a listed company. The company and its shareholders and clients will benefit from his leadership and experience across investment markets, regulatory affairs and technology, which make him an ideal fit for Perpetual."