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.
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.
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