Eric Armbrust has left Perpetual after more than 6 years, the last two as the state managing partner for Queensland. He is joining Elston, a privately-owned asset management and advice firm that has recently expanded its geographical footprint into Sydney.
"It's a brand that I've admired; it's got a great reputation, advice model, and team. An opportunity came up that was part of a pretty exciting growth journey, and it was something I couldn't pass up," Armbrust told Industry Moves.
Armbrust joined Perpetual as a partnership executive, coordinating the sales and marketing strategy for the organisation in Queensland, in particular focusing on accountants, solicitors, and not-for-profits. He was promoted to state manager in 2018. "I had a great six-and-a-half years with Perpetual, but this was the opportunity to return to a relationship-building role, which is one of my core skills."
He says it was Elston's reputation and growth potential that attracted him to this new opportunity. "Elston was appealing because they're on a great growth journey right now. We have strong relationships in Queensland, so I'll be looking to build those up as well as help expand the business' presence in the recently-opened Sydney office as well as a new office in Melbourne soon as well."
Elston reports an estimated $2 billion FUM.