- The CEO of Pendal Group (PDL), Emilio Gonzales, will step down after 11 years in the role
- He will be succeeded by Nicholas Good, who will receive a base salary of $600,000 per year, with a short-term incentive opportunity of $950,000
- Emilio has a six-month notice period and will transition out of the role during this time
- Pendal says since Emilio’s appointment in January 2010, total shareholder return (TSR) has been 322.9 per cent, compared to the 130.1 per cent return of the standard and poor’s ASX 200 accumulation index over the same period
- Pendal Group is up 3.21 per cent, trading at $6.44
The CEO of Pendal Group (PDL) will step down after 11 years in the role.
Emilio Gonzalez will step down, succeeded by Nicholas Good, the current CEO of the J O Hambro Capital Management (JOHCM) operations in the U.S.
The company says Nicholas Good is a global leader in the funds management industry with a strong track record of building and growing businesses. Prior to Pendal, he was Executive Vice President, Chief Growth and Strategy Officer at State Street Corporation.
Nicholas Good’s appointment comes with a base salary of $600,000 per year, with a short-term incentive opportunity of $950,000.
Emilio has a six-month notice period and will transition out of the role during this time.
“The board sincerely thanks Emilio for his contribution, constancy, and commitment for over a decade and recognises his significant achievements, particularly the successful acquisition of JOHCM in 2011 that transformed the company into a global funds management business,” said Chairman of Pendal Group, James Evans.
The company says since Emilio’s appointment in January 2010, total shareholder return (TSR) has been 322.9 per cent, compared to the 130.1 per cent return of the Standard and Poor’s ASX 200 accumulation index over the same period.
“With the multi-year investment program announced in November 2020, it is timely and important that my successor has a clean run to drive this program. It will require a long-term commitment, and after 11 years as CEO, it is the right time for a new Group CEO to step in,” said Emilio Gonzales.
“It has been a privilege to lead the company and transform it from a domestic equity fund manager, with $41.9 billion under management, to a diversified global fund manager with $97.4 billion in funds under management.”
Pendal Group is up 3.21 per cent, trading at $6.44 at 1:50 pm AEDT.