Business Services Industry
Promina talent up for grabs.
Australasian Business Intelligence, March, 2007
Byline: Eric Johnston
Mar 04, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Promina shareholders are expected to endorse a $A7.9bn merger with Suncorp-Metway at a meeting on 5 March 2007. However, the merger is expected to create massive integration problems for John Mulcahy, the CEO of the new entity. Many Promina executives fear that they will not be absorbed into the new structures, although insurance will account for most of the group's earnings. QBE Insurance is reportedly keen to hire Promina executives to support its own expansion plans.
Publication Date: 5 March 2007
PROMINA GROUP LIMITED - ASX PMN
QBE INSURANCE GROUP LIMITED - ASX QBE
SUNCORP-METWAY LIMITED - ASX SUN
GOLDMAN SACHS JBWERE PTY LTD...
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