Robert M Savage, Chairman and Independent Director 
FASCPAS
Appointed Chairman in October 2005.  He was formerly Chairman and Managing Director of IBM Australia and New Zealand. He is Chairman of David Jones Limited and a director of Smorgon Steel Group Limited.  He is chairman of Perpetual's Nominations Committee and a member of the Human Resources and Remuneration Committee.  In addition to his particular expertise in the management of information technology and systems, Mr Savage brings to the Perpetual board his experience as a senior executive in Australia and the Asian region, including experience in people management and organisation effectiveness issues.
Listed company directorships held during the past three financial years:
— David Jones Limited from October 1999 (current)
— Smorgon Steel Group Limited from April 2000 (current)
— IBA Health Limited from May 2001 to May 2003

David M Deverall, Managing Director
BE (Hons), MBA (Stanford) Appointed Managing Director in September 2003. He held senior management positions at Macquarie Bank Limited for seven years including Group Head of the Funds Management Group and Head of Strategy, Analysis and Planning. Prior to this, he was a strategy consultant with Bain International and The LEK Partnership. Mr Deverall is a director of the Investment and Financial Services Association (IFSA) and a member of the Advisory Council of the Faculty of Business at the University of Technology Sydney. He is a member of Perpetual’s Investment Committee.   Mr Deverall brings to Perpetual a combination of strategic ability and commercial drive and skills in product innovation and experience in management across a broad range of investment products and services. He also possesses an extensive overall understanding of the wealth management and wider financial services industry.

Meredith J Brooks, Independent Director
BA, Fellow of the Institute of Actuaries of Australia
Appointed as a director in November 2004.  She was formerly Managing Director, US Institutional Investment Services for Frank Russell Company based in New York. Prior to that she held the position of Managing Director of Frank Russell Australasia for five years and was previously Director, European Funds based in London.  Ms Brooks is a member of Perpetual’s Investment Committee and Audit Risk and Compliance Committee.  Ms Brooks brings to the board over 20 years of senior funds management experience both in Australia and overseas.

E Paul McClintock, Independent Director
BA, LLB 
Appointed as a director in April 2004.  He is a director of investment banking firm McClintock Associates, a role he has held since 1985, apart from the period between July 2000 and March 2003, when he was Secretary to the Cabinet and Head of the Cabinet Policy Unit in the Australian Government.  As Head of the Cabinet Policy Unit, he was the Prime Minister’s senior personal adviser on strategic directions in policy formulation. He is Chairman of ADI Limited and Deputy Chairman of Mayne Group Limited. He is chairman of Perpetual’s Investment Committee and a member of the Nominations Committee.  Mr McClintock brings to the board 30 years’ experience as a legal adviser, investment banker and senior policy adviser to Government and corporations.
Listed company directorships held during the past three financial years:
— Mayne Group Limited from June 2005 (current)
— Macquarie Infrastructure Investment Management Limited (the manager of Macquarie Infrastructure Group) from May 2003 (current)

Sandra V McPhee, Independent Director
Dip Ed 
Appointed as a director in April 2004.  She has held a variety of senior executive positions in the international aviation and tourism industries, including most recently, ten years with Qantas Airways Limited. She is currently a director of Coles Myer Limited and Australia Post, The Art Gallery of New South Wales and St. Vincent’s and Mater Health. She is chairman of Perpetual’s Human Resources and Remuneration Committee and a member of the Nominations Committee.  Ms McPhee brings to the board her extensive experience in business including 20 years in the management of consumer facing organisations at a senior level.
Listed company directorships held during the past three financial years:
— Primelife Corporation Limited from June 2003 to May 2005
— Coles Myer Limited from July 2003 (current)

Peter Scott, Independent Director
BE (Hons), Master of Engineering Science 
Appointed as a director in July 2005.  He was formerly the Chief Executive Officer of MLC, an Executive General Manager of National Australia Bank Limited and held a number of senior positions with Lend Lease.  He is a partner of Korn/Ferry International, a director of SKM and Stockland Corporation Limited. He is a member of the Strategic Advisory Panel of the Project Management Graduate Programme at the University of Sydney and a board member for the Centre for Engineering Leadership and Management at the Institution of Engineers, Australia.  He is a member of Perpetual’s Investment Committee and Audit Risk and Compliance Committee.  Mr Scott has more than 20 years of in-depth senior business experience in publicly-listed companies and extensive knowledge of the wealth management industry, particularly the retail distribution sector.
Listed company directorships held during the past three financial years:
— Stockland Corporation Limited from August 2005 (current)

Philip J Twyman, Independent Director
BSc, MBA, FIA, FIAA 
Appointed as a director in November 2004.  He is a former Group Executive Director of Aviva plc, based in London. Aviva is one of the world’s largest insurance groups with extensive fund management and wealth management businesses.  Mr Twyman was also formerly Chairman of Morley Fund Management, a director of the Quilter group, a private client stockbroker in the United Kingdom, and a senior executive of AMP in Australia.  He has also been Group Finance Director of General Accident plc, a predecessor company to Aviva plc and Chief Financial Officer of AMP in Australia. Since returning to Australia, Mr Twyman has joined the advisory board for the Australian branch of the Swiss Reinsurance Company and has been appointed Chairman of Overseas Council Australia Limited. He is chairman of Perpetual's Audit Risk and Compliance Committee and a member of the Investment Committee and Nominations Committee.
As an experienced international executive and director, Mr Twyman brings to the Perpetual board his background in financial services, investment and wealth management together with considerable practical experience in relation to the audit and risk management issues faced by public companies in Australia and overseas.
Listed company directorships held during the past three financial years:
— General Accident plc from August 1996 to June 1998 (then merged to form Aviva plc)
— Aviva plc (UK listed) from June 1998 to March 2004

Elizabeth Proust
BA(Hons), LLB, FAICD
Appointed as a director in January 2006.   She was formerly Managing Director of Esanda, part of the ANZ Group.  Prior to joining ANZ she was Secretary (CEO) of the Victorian Department of the Premier and Cabinet and Chief Executive Officer of the City of Melbourne.    She is currently Chairman of the Melbourne Symphony Orchestra and Trustee of the National Breast Cancer Foundation. She is a member of Perpetual’s Human Resources and Remuneration Committee and Audit Risk and Compliance Committee.

In addition to her skills from her leadership roles in significant change management programs, Ms Proust brings to the board her strengths in human resources, public affairs and strategy development, and her strong knowledge of board processes and governance through her many senior executive and board roles.

 

Joanne Hawkins
BCom, LLB, Grad Dip CSP FCIS 
Joined Perpetual as Deputy Company Secretary in November 2002 and was appointed Company Secretary in June 2003. Prior to this, she was Assistant Company Secretary of Macquarie Bank and Ord Minnett and was Company Secretary, National Bank of the Solomon Islands. Ms Hawkins has also worked as a solicitor and legal adviser in New Zealand.

Glenda Charles

Joined Perpetual in August 1994. She was appointed Assistant Company Secretary of Perpetual in 1999.  Ms Charles has over ten years experience in company secretarial practice and administration and has completed relevant courses in corporate governance and company secretarial practice with the Institute of Chartered Secretaries. Ms Charles has worked in the financial services industry for over 15 years. 



Gerard Doherty
Group Executive, Wealth Management
Gerard Doherty joined Perpetual in March 1993. He is responsible for the growth and profitability of Perpetual’s Wealth Management businesses — Perpetual Investments, Perpetual Private Clients and PI Investment Management Limited.

Emilio Gonzalez
Chief Investment Officer
Emilio Gonzalez has been with Perpetual since July 1990. He was appointed Chief Investment Officer in March 2001 and is responsible for the management of our asset management teams and investment processes.

Phillip Vernon
Group Executive, Corporate Trust
Phillip Vernon has been with Perpetual since 1982. He is responsible for Perpetual’s Corporate Trust division which provides trust administration services to corporates and institutions in the funds management and debt capital markets.

John Nesbitt
Chief Financial Officer
John Nesbitt was appointed Chief Financial Officer in 2004. His responsibilities include management of the finance, information technology, company secretariat and investor relations functions across the Perpetual group.

Ivan Holyman
Chief Risk Officer
Ivan Holyman joined Perpetual in 2004. He is responsible for legal services and risk management and compliance across the Perpetual group.

Cathy Doyle
Group Executive People and Culture
Cathy Doyle joined Perpetual in December 2006. She is responsible for Perpetual's people and culture programmes.

Our Committees of the Board

The membership, terms of reference and key responsibilities of the board's committees are explained here. Each committee has written terms of reference. Unless more frequent meetings are required, all committees generally meet at least on a quarterly basis.

Audit Risk & Compliance Committee

Members: Philip Twyman (Chairman), Meredith Brooks, Elizabeth Proust and Peter Scott

The main functions of this committee are to oversee group accounting policies and practices, the integrity of financial statements and reports, the scope, quality and independence of our external audit arrangements, the monitoring of the internal audit function, the effectiveness of risk management policies and the adequacy of our insurance programs. This committee is also responsible for monitoring overall legal and regulatory compliance. Each member of this committee is an independent non-executive director. View the Audit Committee Charter.

Investment Committee

Members: Paul McClintock (Chairman), Meredith Brooks, Philip Twyman, Peter Scott and David Deverall

This committee’s main function is to monitor that management has in place and carries out appropriate investment strategies and processes for the investment activities which the group carries out both for third parties and on its own behalf. This committee does not select stocks for individual Perpetual funds; stock selection is carried out by Perpetual’s asset management team. To ensure that the committee is fulfilling its duties to Perpetual and to shareholders, the committee obtains feedback on its performance from the board annually and implements any agreed changes. View the committee's Terms of Reference.

Human Resources & Remuneration Committee

Members: Sandra McPhee (Chairman), Elizabeth Proust and Robert Savage

This committee's role is to monitor the group's human resources policies and practices, to assist the managing director to implement fair, effective and market competitive remuneration and incentive programs designed to retain high calibre employees.  After considering advice from external remuneration advisers, the committee recommends remuneration for non-executive directors, the managing director, executive committee members and senior employees.  The committee reviews succession and career plans for key executives. Each member of this committee is an independent non-executive director. View the committee's Terms of Reference

Nominations Committee

Members: Robert Savage (Chairman), Paul McClintock, Sandra McPhee and Philip Twyman

The committee's role is to recommend to the board nominees for the board (including re-election of existing board members) and to review at least annually the size and structure of the board to ensure that the board comprises appropriately qualified and experienced people. View further details on Perpetual's approach to selecting and appointing new directors. This committee is also responsible for implementing a formal evaluation process of the board's performance as a whole. Each member of this committee is an independent non-executive director. View the committee's Terms of Reference.