Speculation is rife that David Hancock-chaired trade clearing and fintech group FinClear is about to announce the acquisition of rival clearing business Pershing Australia, after trousering a $20 million investment from Magellan last October.
Magellen’s entrepreneurial side already includes principal investments in burritos merchant Guzman y Gomez, investment banking start-up Barrenjoey’s, and a new retirement income product, with another twist possible this week.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
