What does Pendal mean?
The name Pendal has a long and storied connection to the Australian asset management industry.
As a business we trace our origins back to 1969, though the Pendal brand dates to April 27, 2018.
On that day, BT Investment Management (BTIM) changed its name to Pendal Group.
After listing on the Australian stockmarket in 2007, BTIM had grown substantially into an independent global investment management firm, focused on delivering superior investment returns through active management.
The BT brand was owned by then major shareholder Westpac and was used under licence. At the same time Westpac operated a separate BT-branded business, BT Financial Group.
From 2015 Westpac began reducing its shareholding in BTIM (eventually selling its last shares in 2020).
In 2018 we believed it was the right time to establish our own name, reflecting our success and independence while providing clarity on our ownership.
This allowed us to build our own brand, based on delivering superior long-term investment returns from our clients with a performance culture that backs independent actions.
In 2023 Pendal became part of Perpetual Limited (ASX:PPT), bringing together two of Australia’s most respected active asset management brands to create a global leader in multi-boutique asset management with autonomous, world-class investment capabilities and a growing leadership position in ESG.
Pendal was the name of BT’s original nominee company, established in 1971 to hold assets on behalf of its first prospective client, the Dalgety Pension Fund.
The brand name comes from reversing the first syllables of the fund name — Dal(gety) and Pen(sion).
We chose Pendal because it linked our new name and brand to our heritage.