The big result | We’re sick of bashing Perpetual about Pendal – the deal was a shocker, the CEO and chairman are leaving and the board is blowing up the joint by selling its corporate trust and wealth arms to reduce debt and return capital to shareholders. Thursday’s results day was about exactly how much capital – and the answer was $957 million to $1.12 billion, depending on the final tax bill. Perpetual shares dropped 4 per cent.
Perpetual chief executive Rob Adams handed down his final result as the fund manager’s CEO. David Rowe
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
