Macquarie Adviser Services head of wrap sales Giulio Russo has left the company after almost seven years.
A Macquarie spokesperson confirmed Russo was no longer working at the group but did not want to give further details, citing confidentiality agreements.
Russo joined Macquarie in early 2002 and helped grow funds under administration for the wrap business from $7 billion in 2003 to $22 billion this year.
He previously had stints with ING Australia, BankWest and Colonial Investment Management, which is now Colonial First State.
Credit Suisse is also said to have made further redundancies in its Australian investment banking division earlier this week. A spokesperson said the company would not comment on any specific staff departures.
Instead, she referred to a statement on December 4 in which the company announced a scaling back of its operations in more complex products, including a general reduction in risk capital usage and the exit of certain proprietary and principal trading activities.
In Part 2 of our exclusive series, we ask leading names to nominate their best investments, the most effective industry group and the importance of platforms.
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Wealth management group Colonial First State has terminated Pengana and GMO from its FirstChoice platform.
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Malaysian-listed company TA Enterprise Bhd has bought the Westin Melbourne Hotel for $160 million from a group of industry funds.
