Perpetual Trustees
 |
|
| Public (ASX: PPT) | |
| Industry | Finance |
| Founded | Sydney, Australia (1886) |
| Headquarters | Sydney, Australia |
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Key people
|
John Stevenson (Chairman) |
| Products | Financial Services |
|
Number of employees
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Approximately 1200 (2013) |
| Website | http://www.perpetual.com.au |
Perpetual is an Australian investment and trustee group; 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 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.
Perpetual was founded in 1885 by a committee of business and professional people with the purpose of forming a trustee 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.
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