Perpetual Investments major new hire, Michael Gordon, commenced his role as group chief executive for investments at the listed-funds manager this week.

Perpetual has styled the appointment of Gordon, formerly chief investment officer at BNP Paribas Investment Partners, as the last piece in assembling its new leadership team, following the hiring of Mark Smith as group executive of Perpetual Private and Gillian Larkins as chief financial officer.

These three join other recent hires Chris Green, appointed group executive of corporate trust and Rebecca Nash, as group executive of people and culture.

Richard Brandweiner has been acting in the role as head of Perpetual Investments, and Gordon said he would continue to draw on his experience as he took over the role.

Perpetual chief executive, Geoff Lloyd, welcomed Gordon’s arrival, saying his international and domestic experience had made him a “leader” in the world of asset management.

“Michael’s experience brings to us a profound understanding of the key drivers of a successful asset manager, as well as a strong network of industry contacts,” Lloyd said.

With $24.3 billion in funds under management and $8 billion in private client money, Perpetual is finding its way back to full health after the unsuccessful 2010 takeover bid from private equity firm, Kohlberg Kravis and Roberts.

While KKR pitched a $40-per-share offer for Perpetual, the company’s value nosedived after the bid and is only now recovering after falling below $20.

Perpetual shares are now travelling at just under $40 per share and, while that is good news for the company and investors, some industry analysts still see the company as a takeover target in any industry consolidation.

Perpetual’s market capitalisation has recovered to just under $1.6 billion.

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