Australia's Perpetual Investments has strengthened its diversified strategies arm with a senior hire.

Perpetual Investments, the Australian financial services group, has ramped up its diversified strategies arm with a new head, according to a statement.

Michael O'Dea joins the company in late May 2014 as head of diversified strategies, after working for 13 years at JANA, where he is currently the head of investment implemented consulting. In his new role, he will be responsible for leading the team's wholesale balanced, diversified and conservative growth strategies, with a focus on client centric products and funds growth. 

At present, Perpetual has around A$3 billion($2.8 billion) of funds under management in diversified strategies. The company offers fund management, financial advisory and trustee services.