I agree with everything you say, madamswer.I do not know how...

I agree with everything you say, madamswer.

I do not know how this will play out, but here are my current thoughts, put out there for input from others. They are NOT a prediction of what will happen.

Most of the assets of IOOF that generate income will still be there at the end of the day, even if the current Chairman, some Board members and Senior Executives are not. Most of these businesses have different names and are performing well. This should insulate them to some extent from the current reputational damage. Even if the remainder of the ANZ sale is halted, IOOF was previously valued around $8-$9 over several years before the ANZ acquisition.

So looking forward a couple of years, which I always try to do as an investor, possibly with different Chairman, Board and Senior Executives, the assets will continue to be profitable and the share price should recover, providing the new team is customer focused, transparent, honest and the trustee roles have no conflict of interest.

I do have a hold sentiment, as I am optimistic that IOOF, possibly with a change of name, will recover in the medium term, both financially and in terms of community and regulator respect. Thank heavens that they have a strong balance sheet to help them weather this.