Perpetual Limited
Encyclopedia
Perpetual is one of Australia’s most experienced investment and trustee groups; providing investment products, financial advice, philanthropic and corporate service to individuals, families, financial advisers and organisations.
Perpetual offers a broad range of investment
, superannuation and retirement
income products. It has investment teams in Australia and Ireland managing investments across a range of asset classes.
It offers all types of financial advice and provides trustee
and administration services for private trusts, estates
, compensation settlements and philanthropic trusts.
Perpetual is a major provider of specialist financial market services including securitisation trustee, administration and mortgage
lending services for a broad range of institutions.
company. The committee included the Honourable Edmund Barton
who later became Australia
's first Prime Minister
.
Perpetual Trustee Company (Limited) was subsequently formed in 1886, originally based at 105 Pitt Street Sydney.James Fairfax
(later Sir James Fairfax) was elected the first chairman, John Street
was appointed the first managing director and John Pewtress, an accountant, became the first employee.
In 1888, a special act was granted to Perpetual (the power) to act as a corporate executor and trustee by the NSW Legislative Assembly. An increasing number of prominent citizens appointed Perpetual as executor or trustee of their estates – in many cases for generations.
Perpetual continued to develop a strong and secure reputation throughout the First World War and The Great Depression. At that time, Perpetual Trustee Company controlled trust estates to the value of £50,000,000, making it easily Australia’s largest trustee company. In 1935 all staff were required to sign an ‘Obligation of Secrecy’ book, a practice that continued until 1988.
In 1963, The Perpetual Executors & Trustees Association of Australia Ltd (Victoria) and Queensland Trustees Ltd, which had operated in their own states since the 1880s, merged with Perpetual Trustee Company Ltd (NSW).
In 1964 Perpetual listed its shares on the Australian Stock Exchange
and this continues today.
During the 1980s, 1990s and first decade of the 21st century, Perpetual expanded beyond its traditional trustee business into the rapidly-developing funds management industry. This included expansion superannuation, financial advice, and corporate trustee and securitisation services, as well as the establishment of a global share investment operation based in Dublin, Ireland
.
’s largest manager of philanthropic funds, including acting as trustee for over 450 charitable trusts. Perpetual have helped establish and manage trusts for medical, social, environmental, religious, cultural and educational purposes.
The Perpetual Foundation was established in 1998, to provide a way for the business, their staff and their clients to contribute to improving the lives of others. The Foundation is structured in a way that enables specific endowments to be established in their own name.
Research and advice is provided to ensure funds are strategically invested and distributed to maximise their positive impact and that they are used as intended.
The Perpetual Foundation supports a range of charities and causes, a key objective is to direct funds towards charitable projects that focus on preventative measures and education, and projects that address the root cause of problems, rather than providing short-term remedies.
Ultimately, the Foundation aims to increase the capacity of communities and individuals to strengthen themselves and become more self-reliant.
strip signifying continuous which is associated with the company name, Perpetual which means never-ending.
Perpetual offers a broad range of investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
, superannuation and retirement
Retirement
Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours.Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions don't allow the person to...
income products. It has investment teams in Australia and Ireland managing investments across a range of asset classes.
It offers all types of financial advice and provides trustee
Trustee
Trustee is a legal term which, in its broadest sense, can refer to any person who holds property, authority, or a position of trust or responsibility for the benefit of another...
and administration services for private trusts, estates
Estate (law)
An estate is the net worth of a person at any point in time. It is the sum of a person's assets - legal rights, interests and entitlements to property of any kind - less all liabilities at that time. The issue is of special legal significance on a question of bankruptcy and death of the person...
, compensation settlements and philanthropic trusts.
Perpetual is a major provider of specialist financial market services including securitisation trustee, administration and mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
lending services for a broad range of institutions.
History
Perpetual was founded in 1885 by a committee of business and professional people with the purpose of forming a trusteeTrustee
Trustee is a legal term which, in its broadest sense, can refer to any person who holds property, authority, or a position of trust or responsibility for the benefit of another...
company. The committee included the Honourable Edmund Barton
Edmund Barton
Sir Edmund Barton, GCMG, KC , Australian politician and judge, was the first Prime Minister of Australia and a founding justice of the High Court of Australia....
who later became Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
's first Prime Minister
Prime minister
A prime minister is the most senior minister of cabinet in the executive branch of government in a parliamentary system. In many systems, the prime minister selects and may dismiss other members of the cabinet, and allocates posts to members within the government. In most systems, the prime...
.
Perpetual Trustee Company (Limited) was subsequently formed in 1886, originally based at 105 Pitt Street Sydney.James Fairfax
James Fairfax
James Oswald Fairfax, AC , Australian company director and arts patron, was born in Sydney, eldest son of Sir Warwick Oswald Fairfax....
(later Sir James Fairfax) was elected the first chairman, John Street
John Street
-People:* John Ambrose Street , Canadian lawyer and political figure in New Brunswick* John F. Street, former mayor of Philadelphia* John Street * John Street, birth name of Welsh boxer Cuthbert Taylor-Ontario, Canada:...
was appointed the first managing director and John Pewtress, an accountant, became the first employee.
In 1888, a special act was granted to Perpetual (the power) to act as a corporate executor and trustee by the NSW Legislative Assembly. An increasing number of prominent citizens appointed Perpetual as executor or trustee of their estates – in many cases for generations.
Perpetual continued to develop a strong and secure reputation throughout the First World War and The Great Depression. At that time, Perpetual Trustee Company controlled trust estates to the value of £50,000,000, making it easily Australia’s largest trustee company. In 1935 all staff were required to sign an ‘Obligation of Secrecy’ book, a practice that continued until 1988.
In 1963, The Perpetual Executors & Trustees Association of Australia Ltd (Victoria) and Queensland Trustees Ltd, which had operated in their own states since the 1880s, merged with Perpetual Trustee Company Ltd (NSW).
In 1964 Perpetual listed its shares on the Australian Stock Exchange
Australian Stock Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
and this continues today.
During the 1980s, 1990s and first decade of the 21st century, Perpetual expanded beyond its traditional trustee business into the rapidly-developing funds management industry. This included expansion superannuation, financial advice, and corporate trustee and securitisation services, as well as the establishment of a global share investment operation based in Dublin, Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
.
Philanthropy
Trustee services were initially provided in the late 19th century when prosperous Australians began creating charitable endowments. Today Perpetual is AustraliaAustralia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
’s largest manager of philanthropic funds, including acting as trustee for over 450 charitable trusts. Perpetual have helped establish and manage trusts for medical, social, environmental, religious, cultural and educational purposes.
The Perpetual Foundation was established in 1998, to provide a way for the business, their staff and their clients to contribute to improving the lives of others. The Foundation is structured in a way that enables specific endowments to be established in their own name.
Research and advice is provided to ensure funds are strategically invested and distributed to maximise their positive impact and that they are used as intended.
The Perpetual Foundation supports a range of charities and causes, a key objective is to direct funds towards charitable projects that focus on preventative measures and education, and projects that address the root cause of problems, rather than providing short-term remedies.
Ultimately, the Foundation aims to increase the capacity of communities and individuals to strengthen themselves and become more self-reliant.
Current Board Members
- Peter ScottPeter ScottSir Peter Markham Scott, CH, CBE, DSC and Bar, MID, FRS, FZS, was a British ornithologist, conservationist, painter, naval officer and sportsman....
- Chairman and Independent Director; former CEO of MLCMLC-Technology:*Multi-level cell, a type of flash memory*Multi-Platform Language for Calculators*Multileaf collimator, a tool used for shaping radiation beams in external-beam radiotherapy.*Mobile Location Center, a network element in GSM Telephony Networks...
and Executive GM of National Australia BankNational Australia BankNational Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation and customers. NAB is ranked 17th largest bank in the world measured by market capitalisation... - Chris RyanChris RyanSergeant ‘Chris Ryan’ MM is the pseudonym of a former British Special Forces operative and soldier turned novelist...
- Chief Executive Officer and Managing Director; former CEO of ING Investment Management Asia Pacific - Paul V Brasher - Independent Director; former Chairman of the Global Board of PricewaterhouseCoopersPricewaterhouseCoopersPricewaterhouseCoopers is a global professional services firm headquartered in London, United Kingdom. It is the world's largest professional services firm measured by revenues and one of the "Big Four" accountancy firms....
International - Meredith J Brooks - Independent Director; also Chairman of Synergy and Taikoz Limited
- Philip Bullock - Independent Director; former CEO of IBMIBMInternational Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
Asia-Pacific - E Paul McClintock AO - Independent Director; also Chairman of Thales Australia, Medibank Private Limited and Intoll Management Limited
- Elizabeth Proust AO - Independent Director; also Chairman of Nestle Australia Limited, Spotless Group Limited, Insurance Manufacturers of Australia Pty Limited, Sinclair Knight Merz Pty Limited
- Philip J Twyman - Independent Director; also Chairman of ANZ Lenders Mortgage Insurance Pty Ltd
Logo
The MöbiusMOBIUS
MOBIUS is a consortium of libraries in Missouri, United States.The MOBIUS Consortium Office is a Missouri not-for-profit corporation established in 1998 by 50 libraries representing Missouri colleges and universities...
strip signifying continuous which is associated with the company name, Perpetual which means never-ending.