Ann: Perpetual Q2 Business Update - 20 January 2023, page-13

I'd rather that the Board and senior management team at Perpetual actually backed themselves and ponied up and bought more shares in the business they run. Take a look at the annual report regarding their share ownership levels. It's disgusting that their levels of share ownership are so damn low when they are paid such high salaries. This shows a lack of self belief and a lack of thinking like shareholders. Come to think of it, if they bought more shares and were thinking like shareholders maybe they wouldn't have pursued the merger with PDL quite so aggressively in the first place. What they're doing is called empire building...and now they'll try to justify even higher salaries for themselves.