Former Australian Retirement Trust chief executive Bernard Reilly has been appointed as CEO and managing director of Australian fund manager Perpetual, effective 2 September, the asset manager said in an ASX announcement.
Reilly, who departed ART last September, oversaw the mega-merger of Sunsuper and QSuper to form ART, which is now a super fund with over $300 billion assets under management.
Prior to that, he spent over 24 years at State Street Global Advisors, overseeing State Street’s Asia business and doubling of assets under management in the region to US$325 billion ($482 billion).
Rob Adams, the current CEO, will continue in his role until September and present the FY24 results on 29 August.
From 1 October, Adams will move to gardening leave to remain available during the ongoing transition until the completion of Perpetual’s sale of its corporate trust and wealth management business.