David Lane to leave Perpetual

David Lane
Perpetual Limited - Chief Executive - Perpetual Asset Management Americas
Date: 23 May 2023
Position: Chief Executive - Perpetual Asset Management Americas
By Cassandra Baldini

David Lane has revoked his decision to lead the firm's US asset management business due to personal and family reasons.

In November, Perpetual revealed notional changes to its executive committee ahead of its Pendal Group acquisition, which has since been finalised.

As part of its new executive committee, Lane who has been with the firm since 2017 and based in Australia, was appointed to the chief executive, asset management Americas role in January.

However, Perpetual revealed today that Lane is no longer able to relocate to the US, which is a critical requirement, due to personal and family circumstances.

Lane has held several senior roles during his tenure and most recently was responsible for Perpetual's international asset management business.

The firm said to ensure a smooth transition, Lane will remain in the role over the coming months while it conducts a global executive search with a view towards appointing a highly experienced, US-based executive with strong asset management experience.

Perpetual chief executive and managing director Rob Adams said Lane has made a tremendous contribution to the business during his six years.

"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," he said.

We thank David for his contribution and wish him the very best in his future endeavours."

Perpetual also flagged, as part of the integration of Pendal's business, it has also made several changes to its US-based distribution team including appointing a new head of distribution Americas in Mickey Janvier.

Janvier has over 20 years of experience in asset management businesses, focused on the US market.

He was previously at abrdn where he most recently led both intermediary and institutional sales teams in the US, Perpetual said.

"Mickey has an exceptional record of driving inflows across key channels through varying market environments and will commence in June," Perpetual concluded.