Changing of the guard
A bit over 18 months ago the changing of the guard among the leadership of the big consolidators began.
In October 2011 Mark Hodges picked up the reins at Towergate. Come March the following year Peter Blanc took over as group chief executive at Oval.
The very next month Brendan McManus took on the challenge of recalibrating Giles.
If you think about the people they replaced - Peter Cullum, Phillip Hodson and Chris Giles - then it truly was a changing of the guard.
Deal makers
These were deal makers, good at buying up businesses and, looking back at it, good at racking up debts.
Their replacements
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