Magellan’s new chairman Hamish McLennan has dismissed speculation the wounded funds management group wants to offload its 40 per cent shareholding in aggressive new investment bank Barrenjoey Capital.
“Magellan is thrilled with the progress of Barrenjoey and where it’s going, they’re on fire,” Mr McLennan said, ahead of Magellan’s results next week. “We’re not sellers.”
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
