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Showing 31 - 40 of 269 results for "Corporate Trust"

Colonial First State hires PE head, farewells sales exec

ELIZABETH FRY  |  FRIDAY, 27 SEP 2024
... 55% of CFS which it acquired from Commonwealth Bank of Australia. Incidentally, KKR is also set to acquire the corporate trust and wealth divisions of ASX-listed Perpetual in a $2 billion deal set to be finalised next year. An executive director when ...

APRA alleges First Super co-chair breached director duties

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2024
First Super co-chair Michael O'Connor has stepped down following allegations by APRA that he breached his duties as a director in relation to a contract between the fund and the Construction, Forestry and Maritime Employees Union (CFMEU). In addition ...

Perpetual chair to leave as $472m loss recorded

JAMIE WILLIAMSON  |  THURSDAY, 29 AUG 2024
... at $206.1 million, up 26% on FY23. Perpetual attributed this to stronger earnings in its wealth management and corporate trust arms, which are being offloaded to KKR. The wealth management division saw underlying profit before tax (UPBT) of $54 million ...

Perpetual names new chief executive

KARREN VERGARA  |  WEDNESDAY, 21 AUG 2024
... October 1, when he goes on gardening leave and continues to work with the board to complete the sale of Perpetual Corporate Trust and the wealth management unit that will overhaul the firm into a standalone asset manager. Kohlberg Kravis Roberts (KKR) ...

Positives remain at Perpetual, says Morningstar

JAMIE WILLIAMSON  |  THURSDAY, 25 JUL 2024
... costs, seek out higher-margin clients, and achieve a strong outcome from the sale of the wealth management and corporate trust capabilities to KKR. Morningstar has lowered its fair value estimate from $26 per share to $24.50 per share on the back of ...

Perpetual net outflows top nearly $9bn

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2024
... June 30, while more than $3 billion of new institutional money arrived in the September quarter. Perpetual's Corporate Trust business had funds under administration (FUA) reach over $1.2 trillion as at June 30. The wealth management division's ...

Perpetual global head of distribution exits

ELIZABETH FRY  |  FRIDAY, 19 JUL 2024
... eliminate Quaife's role and streamline distribution is not a complete surprise, given the sale of Perpetual's corporate trust and wealth businesses to KKR. He noted that other fund managers are also looking to devolve the global sales role to ...

Clime to offload Madison Financial Group

JAMIE WILLIAMSON  |  MONDAY, 27 MAY 2024
... integration of Clime products into Infocus' platform. Clime bought Madison four years ago from OneVue, now Certane Corporate Trust, for about $4.5 million. At that time, it had 103 active advisers. As of last Thursday, the ASIC Financial Adviser ...

Morningstar unsure if KKR's Perpetual bid benefits shareholders

ANDREW MCKEAN  |  THURSDAY, 9 MAY 2024
... estimate of $26 per share for Perpetual stock, even after KKR confirmed it will buy its wealth management and corporate trust businesses yesterday. Morningstar analyst Shaun Ler said KKR's proposed acquisition of Perpetual's wealth management and corporate ...

Perpetual seals $2.18bn deal with KKR, chief to retire

ANDREW MCKEAN  |  WEDNESDAY, 8 MAY 2024
Perpetual has agreed to divest its wealth management and corporate trust businesses to Kohlberg Kravis Roberts (KKR) for $2.18 billion, pending shareholder approval. The deal will see the departure of Perpetual chief executive Rob Adams. The net proceeds ...