Pyne Gould Corporation (PGC) has announced the appointment of John Duncan as CEO of its recently created asset management company, Perpetual Asset Management. Last month, PGC announced a massive shakeup of its operations and assets. It purchased George Kerr's Equity Partners Asset Management for NZ$18 million to become its banking and asset management firm, which would include Perpetual Trust.
"Mr Duncan joins Perpetual Asset Management as Chief Executive Officer after a long and successful career with the diversified international banking, financial advisory and investment services provider Macquarie Group, where he rose to the position of Executive Director. During his time with Macquarie Mr Duncan worked across a range of sectors including infrastructure, real estate, insurance and funds management. He also helped establish Macquarie's presence in New Zealand and its move into Asia," PGC said. "Mr Duncan, who starts immediately, will be supported by a board chaired by George Kerr, who is also a director and substantial shareholder of PGC. Bryan Mogridge and Bruce Irvine, both independent PGC directors, will join the Perpetual Asset Management board, together with Jeff Greenslade, the Chief Executive Officer of PGC and MARAC."