More departures at Ord Minnett’s Sydney ECM, corporate teams

afr.com:

Stockbroker Ord Minnett’s Sydney office was rattled by a series of departures last week, Street Talk understands.

Karl Morris is Ord Minnett’s chief executive. Dion Georgopoulos

Sources said a chunk of Ord’s equity capital markets and corporate finance operatives stationed in Sydney lobbed their resignations during the week. It comes after the Karl Morris-led broker lost a string of talent as it digested the acquisition of EL&C Baillieu in 2022.

Michael Johnston, a managing director formerly of Morgans, is on leave and expected to depart, sources said. Others to depart include Will O’Connor, who is heading to Perennial, Jessie Hughes, an analyst going to Allier Capital, and Joe Eun.

Since Morris took the reins, most of Ord’s big seats have changed, including head of equities, head of research and head of corporate finance.

Rob Thomson, Ord’s head of corporate finance, left to start his own boutique advisory Bamburra Partners late last year. Investment banking director Alex White left in July to join Bunnings’ M&A team while resources specialist Richard Saywell resigned last week.