Top equities exec departs Perpetual

Vince Pezzullo
Perpetual Investment Management Limited - Head of Equities
Perpetual Investment Management Limited
Date: 21 November 2022
Position: Head of Equities
By Elizabeth Fry

Perpetual has elevated Vince Pezzullo to head of equities within the asset management business.

He replaces Paul Skamvougeras who will eventually depart the fund after the exected merger with rival Pendal.

Pezzullo has worked at Perpetual since 2007 and was appointed deputy head of equities six years ago.

Before joining Perpetual, he was a senior portfolio manager at Deutsche Asset Management.

Despite stepping down from the top equities role, Skamvougeras will continue to work with the team to support a smooth transition.

"Paul has been with the company for more than 18 years split across two terms," said Perpetual chief executive Rob Adams.

"He has made an outstanding contribution to Perpetual. We are deeply appreciative of his commitment and dedication to our clients."

Adam said Skamvougeras' departure came when the equities team has never been stronger, with good momentum across investment performance and fund flows.

Speaking on Pezzullo's promotion, Adams pointed to the new equity head's tenure as deputy combined with Perpetual's investment in succession planning.

"The resultant strength across our Australian equities team provides us with confidence that this will be a seamless and successful transition," he added.

"We remain as committed as ever to ensuring we deliver for our clients across our Australian equities funds and mandates."

On his departure, Skamvougeras commented: "The past 18 years at Perpetual have been truly rewarding; our team has never been stronger, delivering great investment performance with fund flows building. I have great confidence the team will continue to deliver for our clients."

Perpetual AM group executive Amanda Gillespie said: "We have a long and proud history of orderly succession and promoting talent from within, which ensures a consistent commitment to our active, value-focused approach."

Gillespie stated that the 17-strong Australian equities team is one the largest and most experienced in the industry.

She also said Perpetual AM remained focused on ensuring a profile of experience and tenure across the team and developing a solid junior pipeline.

"Momentum within the business is positive; our Australian equities performance continues to be strong, with 92 per cent of equities strategies outperforming their benchmarks over the three years to September 30."