PGC appointment

Pyne Gould Corporation has appointed John Duncan as chief executive of its new asset management company, Perpetual Asset Management.

Duncan's appointment follows a long career at international banking, financial advisory and investment services provider Macquarie Group.

PGC chairman Sam Maling said the asset management business was a major strategic initiative for the group.

The international experience Duncan brought to the new job included 13 years working in investment banking in Europe and Asia.

Perpetual Asset Management was established to manage and own cornerstone shareholdings in major funds.

It initially focused on infrastructure and real estate credit assets and, in time, on other asset classes including agribusiness.