Perpetual’s David Lane to step down

Oksana Patron

23 May 2023

Perpetual Limited’s chief executive, asset management, Americas, David Lane has announced that “due to personal and family circumstances” he could no longer be able to relocate to the US, which is a critical requirement of the role.

However, he will remain in the role over the coming months while the firm will focus on a global executive search “with a  view towards appointing a highly experienced, US-based executive with strong asset management experience”, the firm said in the statement to the Australian Securities Exchange (ASX).

Lane joined Perpetual in 2017 and he has been a member of the Executive Committee since then. In November, 2022 he was appointed as chief executive, asset management, Americas as part of the Perpetual’s new Executive Committee. Prior to this, Lane was responsible for the firm’s international asset management business.

Perpetual also said that as part of the integration of Pendal’s business there were a few changes made to its American distribution team including the appointment of a new Head of Distribution, Americas Mickey Janvier.

Commenting on Lane’s decision, Perpetual chief executive and managing director, Rob Adams, said: “David has been with the company for more than six years and has made a tremendous contribution to the business.

“While we are disappointed that David has made this decision, we understand that family matters take priority, and appreciate David’s commitment to a seamless transition.”