Our company history
Pendal is a specialist investment manager with a history of creating wealth for clients for more than 50 years.
The business was originally established in 1969 as Ord-BT Ltd, backed by Ord Minnett and Bankers Trust Company (New York).
Ord-BT established its first nominee company in 1971, Pendal Nominees, to hold assets on behalf of its first prospective client, Dalgety Pension.
Pendal is a reversal of Dal(gety) Pen(sion).
In 1978, Ord-BT became fully owned by Bankers Trust Company (New York) and changed its name to BT Australia Ltd.
BT Australia became known as a progressive, innovative and successful organisation offering investment banking, equities and fund management services to domestic and overseas clients.
BT’s long history of strong investment performance and client service made it one of the most successful funds management businesses in Australia and one of the most recognised brands in the investment industry.
In 1998, Deutsche Bank acquired Bankers Trust Company (New York) and with it BT Australia.
BT Australia was subsequently acquired by US-based Principal Financial Group (Principal) in August 1999.
The Westpac era
In 2002, Westpac acquired the business from Principal, folded the funds management division together with Rothschild Australia Asset Management and Westpac Investment Management business to create BT Financial Group.
In 2007, the investment management arm of BT Financial Group listed as a separate investment management business on the Australian Securities Exchange as BT Investment Management (BTIM), with Westpac retaining majority ownership.
The establishment of a specialist investment management business provided for a business model that attracts and retains superior investment talent aligned to delivering superior investment returns for clients.
In 2011, BTIM expanded offshore by acquiring J O Hambro Capital Management (JOHCM) a London based boutique active equity manager. This started the transformation of BTIM to a global investment management organisation.
In 2015, Pendal increased its ownership of sustainable investing leader Regnan to 50 per cent (eventually assuming full ownership in 2019).
An independent global investment manager
Westpac reduced its holding in BTIM to 31% in 2015, and then to 10% in 2017.
Westpac sold its remaining stake in 2020, but remains an important client for Pendal.
These sell-downs provided increased size and diversity of the company’s shareholder base, an increased free float resulting in greater liquidity of the shares and eligibility for consideration in key market indices.
In 2018, Pendal changed its company name from BT Investment Management to Pendal Group Limited, following approval from its shareholders.
To reflect the new name, Pendal changed the names of all its funds and its Australian subsidiary companies. There was no change to J O Hambro Capital Management’s name or brand.
Pendal joins with Perpetual
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.
Through the Perpetual and Pendal brands, Barrow Hanley, J O Hambro, Regnan, Trillium and TSW, we now have a growing presence in the US, UK and Europe.
Our specialist ESG-focused asset management firms, Trillium and Regnan are at the forefront of ESG thought leadership and provide leading sustainable and impact-driven investment strategies.
Pendal remains focused on delivering superior investment returns for clients through active management.
Our experienced, long-tenured fund managers have the autonomy to offer a broad range of investment strategies with high conviction based on an investment philosophy that fosters success from a diversity of insights and investment approaches.
Want to know more? Contact a Pendal account manager