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By Money Management

A number of recent high profile executive departures reflect the current economic environment and cost-cutting measures being undertaken across financial services and banking organisations, according to recruitment experts.

Australian Financial Services (AFS) chief executive and managing director Peter Daly was one recent executive made redundant from his position after the AFS board decided he was pursuing different objectives.

Similarly, Perpetual 2012 chief executive Chris Ryan left in February after disagreeing with the board on the company’s future direction.

Simone Mears, Profusion’s head of executive management, said macro-concerns and political uncertainty in Australia were driving leadership exits.

“Investors haven’t had confidence in the market locally, inflows into platforms have been very low and this has impacted the financial planners, impacted the fund managers and everyone else in the corporate structure,” she said.

Full story: http://www.moneymanagement.com.au/news/financial-services/executive-exits-cost-cutting-financial-services

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