Chanticleer
There’s a bigger story behind Perpetual’s sad break-up
The break-up of Perpetual is a story of mismanagement, but it also speaks to the structural changes sweeping across Australia’s financial sector.
Updated
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It would be easy to dismiss the break-up of the 138-year-old funds management icon Perpetual as an epic story of mismanagement.
And there’s no question it is that. The invective directed at chief executive Rob Adams and chairman Tony D’Aloisio across the market this week has been spectacular, and investor anger is understandable.
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