Ann: EML Payments to exit 'PCSIL' business, page-67

Kevin Murphy is an Ireland/UK-based executive whose primary calling card was a strong regulatory relationship with regulators like the CBI and the BoE. with PCSIL gone and PFS UK likely post-remediation shortly, the main reason for his hiring - stop the bleeding in PCSIL; right the ship at PFS UK - will have been accomplished. Much of the residual, core business (assuming Sentenial is sold) will be in Aus, and the business is an Australian listed company. I would highly doubt if he is willing to relocate to Australia to run a signficantly smaller business where the local market is disinterested in according fair value. Indeed he has a pedigree in running businesses for PE (having done so in the past) and believe he may well stay on to run EML - just from London under the guise of PE ownership, perhaps.

always happy to be proven wrong but his contract runs out end-Feb, they have said nothign about hiring a successor or making it permanent, and the last update didnt even mention they were looking for a successor.

I believe the market continues to underestimate the likelihood this whole thing is just sold in one shot, in the coming weeks or months.