Macquarie boss Moss steps down

The long-serving head of the Australian firm, Allan Moss, steps down to be replaced by Nicholas Moore. Macquarie's share price tanks in bearish market.

Allan Moss will retire in May after 15 years at the helm of the Australian financial services business Macquarie Group. Moss will be replaced by the current head of Macquarie Capital, Nicholas Moore.

The chairman of the Macquarie group, David Clarke, made the announcement on February 6. Moore has been appointed to the board of Macquarie Group with immediate effect.

Shareholders reacted negatively to the news and Macquarie Group shares lost almost 8% during the course of Wednesday's trading the...

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