Shock as Waystone removes entire Dublin executive team

Waystone, which serves clients with $2 trillion under management, has removed its entire senior team in a move that has surprised staff

Derek Delaney, Waystone’s chief executive (pictured with Sean Fleming, junior finance minister, and Maeve McConnon of the IDA) was removed from his position last week. Picture: IDA Ireland

Waystone, the Dublin-headquartered financial services group, has removed its entire senior management team with immediate effect, the Business Post has learned.

In an email sent to all staff last week, employees were told that Derek Delaney, the global chief executive, Paul Cahill, the chief operating officer, and Glen Magee, the chief financial officer, had all left the company with immediate effect.

Sources close to the company said the news was unexpected and left staff shocked ...