Perpetual Limited

Perpetual
Public (ASX: PPT)
Industry Finance
Founded Sydney, Australia (1886)
Headquarters Sydney, Australia
Key people
 Peter Scott (Chairman)
Geoff Lloyd (CEO)
Products Financial Services
Number of employees
 Approximately 1200 (2013)
Website http://www.perpetual.com.au

Perpetual is an Australian investment and trustee group; providing investment products, financial advice, philanthropic and corporate service to individuals, families, financial advisers and organisations.

Perpetual offers a broad range of investment, superannuation and retirement income products. It has investment teams in Australia managing investments across a range of asset classes.

It offers all types of financial advice and provides trustee and administration services for private trusts, estates, compensation settlements and philanthropic trusts.

Perpetual is a major provider of specialist financial market services including securitisation trustee, administration and mortgage lending services for a broad range of institutions.

History

Perpetual was founded in 1885 by a committee of business and professional people with the purpose of forming a trustee company. The committee included the Honourable Edmund Barton who later became Australia's first Prime Minister.

Perpetual Trustee Company (Limited) was subsequently formed in 1886, originally based at 105 Pitt Street Sydney.James Fairfax (later Sir James Fairfax) was elected the first chairman, John Street was appointed the first managing director and John Pewtress, an accountant, became the first employee.

In 1888, a special act was granted to Perpetual (the power) to act as a corporate executor and trustee by the NSW Legislative Assembly. An increasing number of prominent citizens appointed Perpetual as executor or trustee of their estates – in many cases for generations.

Perpetual continued to develop a strong and secure reputation throughout the First World War and The Great Depression. At that time, Perpetual Trustee Company controlled trust estates to the value of £50,000,000, making it easily Australia’s largest trustee company. In 1935 all staff were required to sign an ‘Obligation of Secrecy’ book, a practice that continued until 1988.

In 1963, The Perpetual Executors & Trustees Association of Australia Ltd (Victoria) and Queensland Trustees Ltd, which had operated in their own states since the 1880s, merged with Perpetual Trustee Company Ltd (NSW).

In 1964 Perpetual listed its shares on the Australian Stock Exchange and this continues today.

During the 1980s, 1990s and 2000s (decade), Perpetual expanded beyond its traditional trustee business into the rapidly developing funds management industry. This included superannuation, financial advice, and corporate trustee and securitisation services.

Philanthropy

Trustee services were initially provided in the late 19th century when prosperous Australians began creating charitable endowments. Today Perpetual is Australia’s largest manager of philanthropic funds, including acting as trustee for over 450 charitable trusts. Perpetual have helped establish and manage trusts for medical, social, environmental, religious, cultural and educational purposes.

The Perpetual Foundation was established in 1998, to provide a way for the business, their staff and their clients to contribute to improving the lives of others. The Foundation is structured in a way that enables specific endowments to be established in their own name. Research and advice is provided to ensure funds are strategically invested and distributed to maximise their positive impact and that they are used as intended.

The Perpetual Foundation supports a range of charities and causes, a key objective is to direct funds towards charitable projects that focus on preventative measures and education, and projects that address the root cause of problems, rather than providing short-term remedies.

Ultimately, the Foundation aims to increase the capacity of communities and individuals to strengthen themselves and become more self-reliant.

Board members

The Möbius strip is a key element of Perpetual's brand, signifying strength and continuity.

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