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Magellan Financial Group

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Magellan executive chairman Andrew Formica and new recruit Sophia Rahmani

Magellan shares jump after fund manager appoints new leader

The embattled firm, which has faced multiple departures of senior executive, has appointed a new leader with the view to appoint her to the top job.

  • Millie Muroi

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Maverick investor, Nick Bolton.

How this maverick investor pulled off a $20 million virtual corporate heist

This isn’t Nick Bolton’s first rodeo, but it will count as his most lucrative for his investment company Keybridge.

  • Elizabeth Knight
Magellan non-executive director John Eales was re-elected to the position on a narrow margin at the company’s AGM on Wednesday.

Former Wallabies skipper almost crash-tackled off Magellan board

Ex-Wallabies star John Eales narrowly survived a vote on his tenure as director of the embattled fund manager as shareholders rejected the firm’s executive pay.

  • Millie Muroi
New Magellan chairman Andrew Formica has taken the reins as CEO on an interim basis.

Magellan navigates takeover target risk

Magellan’s executive chairman Andrew Formica is under pressure from activist investors to return capital to shareholders, while speculation mounts about the funds manager’s future.

  • Anne Hyland
New Magellan chairman Andrew Formica has taken the reigns as CEO on an interim basis.

Continuous explosions: Magellan chief executive exits with a bang

It is paradoxical that Andrew Formica says the key to stemming the outflow of funds across Magellan’s products is to have “less noise” when the shock departure of the chief executive screams chaos.

  • Elizabeth Knight
Magellan Financial Group’s chief executive officer David George has been in the role since May 2022.

Surprise exit for Magellan chief as company bleeds funds

Magellan boss David George left the role on Wednesday after just 17 months as the fund manager looks to restore its once high-flying status.

  • Millie Muroi
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Magellan chief executive David George is pursuing a goal to reach $100 billion in funds under management by 2027.

Magellan shares hit 10-year low as it continues to bleed funds

The fund manager’s share price plunged by almost a fifth on Friday after it said investors pulled another $2 billion from the company last month.

  • Millie Muroi
Magellan chief executive David George said

Magellan shares soar on cost cuts, capital return as profits hit

The former high-flying fund manager continued to bleed funds but saw improvement in its flagship fund and announced a special dividend to return cash to investors.

  • Millie Muroi
Magellan CEO David George will mark one year in the job next week.

The $100b question: What’s ailing fund manager Magellan?

The hit from rock star stock pickers leaving the business is largely in the past. But the fund manager still faces a long road to regain investor confidence.

  • Clancy Yeates
Magellan CEO David George joined the company in July 2022.

Magellan continues to bleed funds despite improving performance

Investors continued to walk out on the embattled fund manager, but analysts said there could be a turnaround if the company sustains its performance.

  • Millie Muroi

Original URL: https://www.watoday.com.au/topic/mfg-xt