Some good points raised in your post joewolf and mostly entirely accurate. Yes the whole financial services sector has been oversold and will at some point show signs of recovery.
The sector was braced for a Labor victory and that may well have been disastrous but the reality of a significant conservative victory is yet to be reflected in share prices. This should not however provide cover for poor management and a lack of strategy, nor does it excuse a lack of communication with shareholders as several have commented.
Yes; GC was heavily involved with Deakin (DNK) when under his leadership almost all shareholder value was lost and IOOF picked the entire operation up for next to nothing.
When will we see the interim MD replaced with a permanent appointment? It doesn't take 8 months to find a suitable replacement unless you're not really looking or you are too comfortable with people who don't challenge your authority.
MG will be a big loss, one of the most respected and trusted fellows in the business - why would you let him go?
Still on my watchlist but not yet convinced, better opportunities elsewhere
SEQ Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)