Brooke Southall: “There is something mercenary about the way that the former insurance broker-dealers get bought, sold, spruced up and staffed. The (formerly ING) Cetera and (formerly AIG) Advisor Group entities are equal parts grand rafts of human financial advisory potential and leftover insurance broker culture that meant not only selling but favoring the brand on their business cards. As such they are catnip for private equity firms who surmise that even marginal improvements can yield enormous gains in value. But when they install mercenary CEOs, they not only expect results, they expect results yesterday. Against that backdrop, Robert Moore is out at Cetera. The official reason and the industry-buzz reason for his planned exit next month differ in their specifics.”
Categories: Security Industry