Boardroom shuffle for Trustees Executors after red ink

Times were tight for Trustees Executors last year. (Image: Getty)

Mon, 20 Feb 2023

Trustees Executors has moved its chief executive out of the boardroom and is looking for a new chair after rethinking its strategy in the wake of posting its first loss in 14 years. The financial supervisor firm, which oversees funds under supervision worth more than $125 billion, reported a net loss of $1.8 million in the 12 months ended Sept 30, according to financial statements lodged with the Companies Office, compared to a profit of $1.8m a year earlier. Revenue fell 3.7% to $36.3m, while increased spending on employees and techn...

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