The recent improvement in performance at Phillips & Drew will provoke mixed reactions in Tony Dye, according to those who know him best.
“It’s sort of ironic really,” says a former member of his team. “We often used to say that him leaving the firm would coincide with the change in the markets and sure enough that’s what has happened.”
Despite firm denials by his UBS bosses that Dye was eased out of his seat, the source says he is unlikely to have left his post willingly. “Was he pushed? I don’t know but he isn’t the sort of person who would want to leave. He wouldn’t want to go before he was ready, which would have meant when things had started to turn round. He would want to have been proved right.” ...
