Magellan has announced a raft of management changes including the departure of head of investments Gerald Stack after 18 years.
In an ASX update, the fund manager announced a series of executive changes that it said will help the firm to deliver its strategic growth ambitions.
Stack, who has worked at the firm since 2007, will depart in July 2025 to ensure a smooth handover. He is currently the head of investments and has led the firm’s global listed infrastructure team, including its $1.5 billion Magellan Infrastructure Fund.
He also previously worked as the deputy chief investment officer under former chief executive David George from October 2022 to August 2023.
“Gerald has been Magellan’s head of investments for more than a decade and over the past two years has contributed to important initiatives to strengthen the investment team. He now feels the business has the stability and direction it needs for the future and will take some time off before pursuing his next opportunity,” the firm said.
In terms of new appointments, it has hired Emma Pringle as head of investor relations and sustainability, joining from her role as head of ESG at Maple-Brown Abbott where she worked for almost five years.
This is the second appointment from Maple-Brown Abbott as former Maple-Brown Abbott CEO Sophia Rahmani is now Magellan’s managing director.
Former chief executive for Australia and New Zealand at AllianceBernstein, Jen Driscoll, has joined as chief operating officer, and Sam Mosse will join in April as chief risk officer. She is currently chief risk officer at Perpetual.
Based in the UK, Simon Barrett will be the firm’s head of UK and EMEA distribution. He was previously the co-head of global institutional at UK fund manager Jupiter Asset Management.
Finally, Andrew Gowen has joined the portfolio management team as an associate portfolio manager on its High Conviction Fund. He most recently worked as a portfolio manager at Lombard Odier in the UK and returns to Australia after more than 25 years.
The High Conviction Fund, which the firm said it is targeting towards high-net-worth clients, will now be run by Gowen and Nikki Thomas. The flagship Magellan Global Fund will now be run by Arvid Streimann and Alan Pullen as co-portfolio managers.
Rahmani said: “We are pleased to announce the recruitment of such high quality and experienced professionals and embed a refreshed structure that will enable our strategic growth agenda. Our ability to attract talent of this calibre is reflective of the significant progress we have made in positioning for the future, while we continue to harness the elements that have made Magellan a globally recognised financial services provider of scale.
“I would like to thank Gerald for his outstanding contribution to Magellan over the years. Gerald has helped develop a highly regarded portfolio management and analyst team who are trusted by clients and remain focused on delivering strong investment performance.”
