A spokesperson for the IOOF-controlled group told InvestorDaily Mr Bearman made the announcement in April, with relevant parties informed by letter and a follow-up meeting.
IOOF is currently undertaking a review of Perennial's operation structure, said the spokesperson.
As part of the review, IOOF will make a decision about Mr Bearman's duties going forward, she said.
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"The appropriate governance is in place, with suitable delegations and authorisations passing to the experienced management team who continues to run the business on a day-to-day basis," said the spokesperson.
