NewsBite

Chanticleer

Chanticleer

Meet the mysterious investment legend who might save Magellan

Shares surged again after the company sealed a deal with the secretive investor known for running one of Australia’s best quantitative investment firms.

Updated

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Morry Waked might be the best Australian investor you’ve never heard of. He might also be the man who helps to turn around the flagging fortunes of Magellan Financial Group.

Magellan executive chairman Andrew Formica has been threatening to do a deal ever since removing former chief David George last October – and on Thursday he delivered with a transaction no one saw coming.

Loading...
James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In Financial services

Fetching latest articles

Most Viewed In Chanticleer

    Original URL: https://www.afr.com/chanticleer/meet-the-mysterious-investment-legend-who-might-save-magellan-20240815-p5k2nn