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Australian Ethical moving out of Canberra

By johnboy - 11 September 2013 1

Perhaps anticipating a less friendly government reception Finance News Network reports Australian Ethical is shutting down it’s Canberra operations for Sydney:

Australian Ethical Investment Limited (ASX:AEF) will restructure its operations to substantially reduce its Canberra operations and outsource parts of its business.

Redundancy and associated costs from the restructure are expected to cost in the order of $300,000 before tax, with savings to be realised during the remainder of the year.

Australian Ethical Managing Director Phillip Vernon says the move is part of the company’s efforts to operate as effectively and efficiently as possible.

He says Australian Ethical has progressively evolved its business to be based in Sydney to be more accessible to clients and investee companies.

Should be quite a few companies moving in to cosy up to Tones though.

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One Response to
Australian Ethical moving out of Canberra
neanderthalsis 3:05 pm 11 Sep 13

“Perhaps anticipating a less friendly government reception Finance News Network reports Australian Ethical is shutting down it’s Canberra operations for Sydney.”

Or could just be that rents are cheaper in Sydney…

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