Andrew Formica

Funds management

What’s next for Magellan after George’s departure?

The departure of CEO and MD David George is yet another turbulent move for Magellan, coming just weeks after the company celebrated completing its board renewal process. ...

People & Products

Magellan CEO David George to immediately depart

Magellan Financial Group’s CEO and managing director, David George, has stepped down from the asset manager, effective today, after just over a year in the role. ...

Funds management

Magellan considers scrapping closed-ended Global option

Magellan is considering a conversion of the closed class units of its Magellan Global Fund into open ones in a bid to narrow its discount to NAV....

Funds management

Magellan’s Formica on growth ambitions via fund expansion

Magellan’s new chairman, Andrew Formica, says he is “deeply motivated” to return the fund manager to a growth footing by expanding its offerings. ...

Funds management

HUB24 appointment concludes Magellan’s board renewal process

The asset manager has announced the conclusion of its board renewal process that began in November 2022 with its latest appointment of Cathy Kovacs as a non-executive dir...

Funds management

How Magellan plans to regain advisers’ favour

Magellan chief executive, David George, has sent a message to advisers that they are a key client base for the firm while discussing how M&A could help to reach its $100 ...

Funds management

Profits halve at Magellan, new chair appointed

Net profit after tax at Magellan has declined by 52 per cent as it releases its FY22-23 results, its first in a five-year transformation strategy, and makes several peopl...

Editorial

How can Andrew Formica help Magellan recover?

OP-ED With Magellan CEO David George hinting at possible acquisitions, the appointment of Andrew Formica, who pursued an aggressive M&A strategy for Henderson as its form...