IFA NETWORK owner Misys is parting company with the head of its banking systems, Ivan Martin, "by mutual agreement" - three months after issuing a shock profits warning that sent its shares tumbling and enraged its investors, according to The Times .
Martin was also one of two senior executives Misys had controversially planned to award "retention" bonuses of up to £1.2m each, says the paper. The group was eventually forced to withdraw the plan following a hostile reception by shareholders. The other executive was Tom Skelton, the head of its healthcare division. Misys said this morning Kevin Lomax, the group chief executive who has also come under heavy pressure since the September profits alert, will take over Martin's job as chief executive of banking systems until a successor is found. HOUSE PRICES have started to rise again...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
