NewsBite

Hamish Douglass

November 2023

Guzman y Gomez CEO and co-founder Steven Marks (left) was being performance managed according to court documents filed by consultant Greg Creed (right).

How Guzman y Gomez bungled its grand plans to be the next McDonald’s

Documents filed with a California court reveal how ex-managers allege the Mexican-themed restaurant chain sent its boss to a “cult-like” life coach.

  • Primrose Riordan

October 2023

Joe Aston’s farewell card.

Joe Aston’s farewell column

After 12 years of writing Rear Window, my reward was the belly laughs I got to share with AFR readers as, again and again, we denuded the most fantastic pretenders in the nation.

  • Joe Aston

June 2023

Gabriel Radzyminski says common sense is at the heart of his pitch to Magellan.

Activist’s prescription for Magellan goes back to the future

Sandon Capital says its push to restore value at Magellan is based on a return to the things that made the fund manager great. 

  • James Thomson
Magellan CEO David George wants to rebuild funds under management.

Magellan should return capital to win back investors: Sandon

It has urged the fund manager to abandon its plan to rebuild funds under management to $100 billion and focus on returning at least $300 million to shareholders.

  • James Thomson

February 2023

Former star stock picker Neil Woodford went from hero to zero in the UK, and the fallout has been immense for Link Group.

Celebrity fund managers on the nose as alternative models soar

The halos around celebrity fund managers like Neil Woodford and Cathie Wood have slipped on the back of ridiculous claims and investment blow-ups.

  • Tom Richardson
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December 2022

Magellan co-founder Hamish Douglass.

The good, bad and ugly of business in 2022

Heroes became villains and green became gold – or at least copper. Here are the biggest thrills and spills from a huge year in business.

  • James Thomson
Magellan chair Hamish McLennan at the firm’s extraordinary general meeting.

Magellan draws line under Hamish Douglass era

The fund manager wants to move on from being a founder-led company, its chairman told shareholders, who overwhelmingly approved doubling directors’ fees.

  • Jonathan Shapiro and Emma Rapaport

November 2022

Magellan co-founder Hamish Douglass.

Hamish Douglass leaves Magellan for dead

The big lie Douglass has told is the one he’s told himself.

  • Joe Aston
Hamish Douglass is set to return to Magellan.

Why Magellan shareholders aren’t selling like Douglass

While Magellan’s co-founder has dumped most of his shares, staff that took out loans to buy shares owe tens of millions of dollars in debts.

  • Updated
  • Aaron Weinman, Jemima Whyte and Jonathan Shapiro

Douglass’ Magellan selldown poses $733m question for listed fundies

The massive amount of money Hamish Douglass left on the table by not selling at the peak raises a question for listed fund managers.

  • James Thomson

Hamish Douglass drops two-thirds of his Magellan shares for $118.3m

Magellan Financial Group co-founder Hamish Douglass told the manager he was selling for “family diversification purposes”. He sold at $9.10 a share.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood

October 2022

Magellan CEO David George will now take the chief investment officer role too.

Magellan reshuffle reignites key man risk

David George will be chief executive and chief investment officer of Magellan, replicating the structure in place under Hamish Douglass. 

  • James Thomson

August 2022

Magellan Financial Group chairman Hamish McLennan.

Hamish Douglass still having his way with Magellan

Given what Douglass inflicted upon Magellan shareholders, what was he thinking exercising his right to a $2.5 million severance cheque?

  • Updated
  • Joe Aston

July 2022

New Magellan chief executive David George is tasked with stemming the outflows.

Magellan loses $5.2b of funds as rival GQG wins mandates

The under-fire investment group said investors pulled a further $5.2 billion from its funds, as assets under management fell to $61.3 billion over the quarter.

  • Jonathan Shapiro

June 2022

Douglass to return to Magellan in consulting role

He will cease to be a permanent member of the staff in June and the consulting role will start in October, in which he will provide ‘valuable investment insights’.

  • Jonathan Shapiro
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Douglass returns to Magellan. Well, sort of

Hamish Douglass will cease being a full-time employee and return as a consultant. Certainty over his role helps with stability at the beaten-down fund manager. 

  • Updated
  • James Thomson
The grand Double Bay home of Hamish Douglass and Sybella Morris sold on Thursday night.

Hamish Douglass sells family’s $30m Double Bay estate

Hamish Douglass and his sister Sybella Morris sold their long-held family home in Sydney’s Double Bay on Thursday night for an estimated $30 million.

  • Lucy Macken

May 2022

Magellan chairman and chief investment officer Hamish Douglass has been on a medical leave of absence since February.

Magellan buoyed by ‘early signs of stability’

The combination of hiring a new chief executive and a soft valuation for shares within its global equity portfolio offers a boost to the firm’s share price.

  • Updated
  • Richard Henderson
Magellan has sold its stake in Guzman Y Gomez.

Magellan sells Guzman y Gomez stake to Barrenjoey unit for $140m

Magellan has closed its Mexican fast food bet thanks to the investment bank it partly owns.

  • Jonathan Shapiro
One of Hamish Douglass’ three start-up investments is gone.

Magellan’s taco chain sale underscores Barrenjoey conundrum

Magellan is selling its stake in Mexican chain Guzman y Gomez to focus on funds management. But its stake in investment bank Barrenjoey is going nowhere. 

  • James Thomson

Original URL: https://www.afr.com/person/hamish-douglass-38p