Mr Scott joined the Perpetual Board in 2005 and became Chairman in 2010. When appointed Chairman, Mr Scott agreed to extend his tenure until 2017 to ensure continuity in the role.

Mr Scott said he was delighted Mr D’Aloisio had agreed to join the Board and succeed him as Chairman.

“It has been my great privilege to be Chairman of Perpetual, an outstanding Australian company with strong values reflecting its deep fiduciary heritage,” said Mr Scott.

“I am confident Tony will be a real asset for Perpetual, with his extensive experience in financial services and having been a CEO of a listed company. The company and its shareholders and clients will benefit from his leadership and experience across investment markets, regulatory affairs and technology, which make him an ideal fit for Perpetual,” Mr Scott said.

Mr D’Aloisio said it was an honour to join the Perpetual Board as Chairman-elect and he was looking forward to working with the Board and management team.

“Peter Scott has done an outstanding job and I am eagerly anticipating our time together as I transition to be Chairman of Perpetual next year,” Mr D’Aloisio said.

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On 2 September 2014, Avaloq announced that it will provide Deutsche Asset & Wealth Management (DeAWM), a division of Deutsche Bank Group, with full BPO services for its Wealth Management back office operations in Singapore. These services include back office administration processes.  Following on from that announcement, the newly founded entity Avaloq Sourcing Asia Pacific (Singapore) Pte. Ltd. is now offering Business Process Outsourcing based on Avaloq’s unique technology to customers in Singapore and on a cross border basis throughout the region.

The Singapore entity forms part of Avaloq’s rapidly expanding global network of BPO centres, with other sites in Switzerland and Germany.

“The banks in Singapore and around Asia Pacific generally are suffering continuing pressure on cost-income ratios from the combined impacts of compliance costs, pressure for greater relationship manager efficiency and client demand for greater sophistication from digital channels. Costs in bank processing is a volume business and the consolidated volumes arising from our BPO service will translate into increased efficiency and profitability for participating institutions,” commented Peter Scott, General Manager for Avaloq Asia Pacific and Chairman of the Board for Avaloq Sourcing Asia Pacific (Singapore).

Francisco Fernandez, Avaloq group CEO says, “The official launch of the BPO centre in Singapore represents a significant next step for the Avaloq group. When we first entered the BPO market in 2011 our vision was to build a Global Processing Network. We are becoming a market place by linking the participating banks’ street side product creation capabilities with the advisory channels offered by other institutions in other financial centres. Today that vision is one step closer and we look forward to seeing the network continue to grow in the coming years.”

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