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Perpetual talent departs

Perpetual Private has lost its head of multi manager, who has been with the firm for more than 17 years, and a research analyst.

Theo Sofios departed last Thursday, a spokesperson for Perpetual confirmed.

Sofios had been with Perpetual for 17 years and five months. Prior to joining the company he was a portfolio manager at Optimix Investment Management.

Also departing on the same day was Thomas Kapellos, a research analyst.

Kapellos had been with Perpetual for almost six years.He started his career as an associate with Macquarie.

In its August results, Perpetual saw its net profit after tax fall 29% year on year. The business blamed increasing outflows from its investment business and COVID-19 for the decline.

Revenue for the full year also dropped, down 5% to $489.2 million, reflective of a lower level of funds under management (FUM).

The board still decided to pay shareholders a final dividend of 50 cents per share, resulting in a fully franked total dividend for the year of $1.55. The dividend paid to shareholders at the same time last year was $1.25 per share.

Read more: PerpetualMacquarieOptimix Investment ManagementTheos SofiosThomas Kapellos
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