Perpetual's outgoing managing director David Deverall will remain on the Investment and Financial Services of Australia (IFSA) board, IFSA chief John Brogden announced yesterday.
On Wednesday, Deverall announced his resignation from Perpetual. He is currently the chair of IFSA.
"David will remain in the role until Perpetual find a new chief executive. We envisage he will be in the role over the next few months," Brogden said.
"We will most likely find a new chair after our AGM [annual general meeting] in October."
Deverall was appointed as IFSA chair in October 2007.
He was named one of IFA's [InvestorDaily's sister publication] most influential people in the industry.
In an interview with IFA, Deverall said the key highlight in the past decade was when the Australian managed funds market surpassed $1 trillion under management for the first time.
"It was at that point, when we went through $1 trillion, all of a sudden we realised that this is an enormous industry with huge responsibilities," he said.
"At the end of the day we are looking after the retirement savings of millions of Australians. And that is an enormously responsible role to have, and for me to be in a leadership position both at Perpetual [and] at an industry body level, is quite humbling really."
