An exodus of top talent at construction industry superannuation giant Cbus has set off alarm bells at Morningstar, but Street Talk has even more names for the research house to add to the exit list as the $94 billion fund, which has come under intense scrutiny for board-level links to the scandal-plagued CFMEU, presses play on a major restructure.
Sources told this column that a host of senior staff have been made redundant this week as Cbus seeks to get a handle on rapid turnover and second-rate short-term performance. They include well-regarded head of compliance Rick Henderson, strategic public policy adviser Ailsa Goodwin and acting head of brand and marketing Peter Little.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
