cost cutting

Investment Strategy

Perpetual, Bain trimming costs

On the 16th floor of Perpetual’s Sydney headquarters there are about a dozen people seeking to find ways to produce “further meaningful cost reductions” at the trustee and asset manager, says a person familiar with the matter who spoke on condition of anonymity. The cost reduction team, made up of about six people each from […]
Investment Strategy

Perpetual CEO Geoff Lloyd’s iron fist in a velvet glove

Perpetual Ltd. chief executive Geoff Lloyd was listening patiently to a homophobic rant. Henri Aram, who says he is “close to 90” years old, was railing against “same sex marriage.” “It’s a very, very substantial problem,” says Aram, who arrived in Australia in December 1938 to escape the Holocaust. He says he has held stock […]
Investment Strategy

Oversight lacking in fund outsourcing

Asset managers have outsourced a lot of functions but in many cases have not gleaned the efficiencies they had hoped, says Geoff Hodge, chief executive of financial software firm Milestone Group. “Outsourcing takes more resources than initially thought,” says Hodge. “Some fund managers thought they had outsourced 100 people but have found they have got […]