Following an extensive search open to both internal and external candidates, Iress also announced the appointment of Roger Sharp as a non-executive director and chair-elect. Mr Sharp will commence his role as non-executive director effective today.

Mr D’Aloisio said: “I am a firm believer in Board and chair renewal and after more than eight years as a director and the past six years as chair, this is the right time both for me and for Iress to step down. Being director and chair of Iress has been a privilege and I am confident that Iress will continue to adapt and grow in the years ahead. I thank my fellow directors and management for their work and support and all of the dedicated team at Iress. I will miss them greatly.

“I am pleased to welcome Roger Sharp as non-executive director and chair-elect. Roger brings 35 years’ experience in markets, technology and governance. He has broad international experience in Australia, New Zealand, Hong Kong, Singapore, the United Kingdom and the United States. He is currently chair of ASX-listed Webjet, the deputy chair of Tourism New Zealand, the chair of the Lotteries Commission of New Zealand and the founder of boutique technology investment bank, North Ridge Partners. His past executive roles have included Global Head of Technology at ABN AMRO Bank and CEO of ABN AMRO Asia Pacific Securities.”

Mr Sharp said: “I’ve been fortunate to help build a number of software companies during my career. I consider Iress to be a remarkable Australian success story, and am looking forward to contributing to its journey.”

Iress managing director and chief executive, Andrew Walsh, said: “Tony’s experience across a range of areas such as strategy, governance and leadership has been invaluable over a long period of growth and change for Iress. He has played a critical role in shaping Iress and setting it up for further success. I thank Tony on behalf of my fellow directors and the management team for his guidance and counsel. I welcome Roger to Iress and look forward to working closely with him and the Board.”

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Mr Lloyd said, “It has been such a privilege to lead Perpetual. We have both fixed and grown the business. Perpetual is a profitable and growing business with a strong brand and reputation, a great team and terrific client relationships.

“As we started to build the company strategy for the coming three to five years, I felt I wouldn’t be able to commit over the long term and so now is an important time to hand over the leadership of Perpetual. I will leave as a friend and supporter of this great company,” Mr Lloyd said.

Perpetual Chairman, Tony D’Aloisio, said, “I would like to thank Geoff for his leadership and commitment to Perpetual. He has delivered strong results for our clients and shareholders through leadership, passion and determination to improve and grow the company.

“Geoff’s replacement will be appointed following consideration of internal candidates together with an external search. Geoff will continue in the role of CEO until 30 June 2018 and then remain available for a handover to his successor,” Mr D’Aloisio said.

Mr D’Aloisio noted the lead time and handover arrangements have been designed to allow for a smooth leadership transition.

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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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