What is it about March? Is March the month of financial services musical chairs?
Outsider only ponders these questions because in the space of just a few days in March he saw Lonsec Research chief executive, Matt Olsen, head off to a new job at IOOF, while long-serving MLC/Plum executive, Lara Bourguignon, has headed off to a superannuation role at AMP Limited.
In Outsider’s experience, comings and goings in the financial services industry are generally most frequent in November and February, but he notes that global warming has altered the timing of the grape harvest and there is undoubtedly a link between wine and job negotiations, so….
Of course, Olsen’s departure from Lonsec follows reasonably closely on the heels of Amanda Gillespie’s exit to take on a role at Perpetual so it is hardly surprising that Outsider has heard the odd piece of speculation in the market vis a vis ratings houses and private equity ownership, but thus far he sees only smoke and no fire.
In the meantime, there seems greater speculation about where Perpetual chief executive, Geoff Lloyd will roost when he makes his departure later this year and who will replace him.
Outsider keeps hearing that Geoff is destined to enjoy a much-improved Sydney harbour view.