Perpetual Private Wealth group executive John Nesbitt has left the business to become bancassurance group Suncorp-Metway's chief financial officer from 2010, Perpetual said late yesterday.
Nesbitt headed up Perpetual Private Wealth since March 2008 and has been with Perpetual since March 2004, when he joined as chief financial officer.
Perpetual Private Wealth general manager business acquisitions Paul Ryan and Perpetual Private Wealth chief financial officer Shailendra Singh have been appointed as acting joint heads of the division, pending completion of an executive search for a successor to Nesbitt, Perpetual said.
Ryan successfully sourced the Financial Pursuit and Grosvenor Financial Services acquisitions for the group earlier in the year.
"Paul and Shailendra are both talented and experienced executives who have been key contributors to Perpetual's Private Wealth growth strategy and they are ideally placed to continue to drive the business while the formal search process in undertaken," Perpetual chief executive David Deverall said.
"We have a number of acquisition and organic growth initiatives underway in Private Wealth. Paul and Shailendra are already closely involved in these projects so their appointment as acting leaders of the business ensures that we will remain on track.
"John Nesbitt has a long career in finance roles and was previously CFO at Perpetual so I can understand his desire to take the opportunity to become CFO of Suncorp and wish him well in that regard."
Nesbitt's departure follows a spate of recent senior resignations at the financial services firm.
Perpetual group executive of global equities Emilio Gonzalez will leave Perpetual in January 2010 to become rival BT Investment Management's chief executive while Perpetual superannuation and investment solutions group executive Eric Wang left in September.
