Perpetual, the Australian wealth management firm, has appointed a new deputy head of equities following the departure of incumbent executive Charlie Lanchester.

Lanchester is "leaving the funds management industry" at the end of September 2013 and will be replaced by Paul Skamvougeras, currently a portfolio manager. Lanchester took the deputy position in 2011 after industry veteran John Sevior left the company. 

Skamvougeras, who will be helping with the transition for the rest of the month, brings significant experience to the role, having spent seven years at CPH/Ellerston Capital.

In addition, Nathan Parkin has been named co-head of the industrial share fund alongside incumbent Vince Pezzullo. Each will oversee 50 per cent of the fund. 

Perpetual Investments, Perpetual's fund management arm, oversees some A$25.3 billion ($23.2 billion) in assets. For the year to 30 June 2013, the company posted a 128 per cent increase in profit to A$61 million.