IMHO if anyone takes a look at MFS' machine gun approach to ASX releases in the later half of '07 and their actual contents, it was relatively obvious these guys were amateurs. Nothing against white shoe brigade etc but MFS got ahead of itself on so many fronts. Take a look at their management presentations introducing the "team" it is downright embarassing. I was frankly surprised that MacBank and UBS allowed their name to be included in the infamous structural separation announcement, what were they thinking...although UBS were probably trying to protect their Stella debt and MQG probably sensed fear and sniffed a lazy ~$100 million fee event.
Financial services businesses are all about credibility and trust, so once these are gone (as a result of media beat up or otherwise) there is nothing left, no business that anyone wants to touch with a polo stick.
Morale of the story is to be careful with who you let handle your money.
MFS
mfs limited
