Perth office founder leaves Ord Minnett
Not a great week for Ord Minnett boss Karl Morris to be offshore.
Street Talk understands senior wealth adviser, Faye Longmuir – who spent 20 years with Macquarie as a private banker, and helped establish the Perth office of Ord Minnett in 2020 – left the firm on Monday.
Ord Minnett boss Karl Morris may need to stem the flow of departures in coming weeks. AFR
The news comes hot on the heels of last week’s departures of associate director Will O’Connor, who is headed to Perennial; Jessie Hughes, an analyst going to advisory M&A boutique Allier Capital; and investment banking analyst Joe Eun.
Employee gripes range from concerns around the broking and wealth management business’ culture to Ords’ decision last year to switch to whitelabeling research from Morningstar instead of JPMorgan, sources said.
Ord Minnett has been largely owned by Morris and billionaire businessman Bruce Mathieson since 2019, when the pair led a consortium which acquired the stakes of IOOF and JPMorgan in a deal worth about $160 million.
Read more on afr.com
