Douglass resigns from Magellan board
Hamish Douglass has resigned from the board of Magellan in light of his continued absence from the firm.
Douglass, who took a medical leave of absence at the start of February, was previously chair of the asset manager as well as chief investment officer and portfolio manager.
A statement to the Australian Securities Exchange (ASX) said his departure was effective from 19 March, 2022 and was due solely to his medical leave of absence.
Douglass’ chair role was currently being taken over by former deputy chairman, Hamish McLennan, who was appointed as non-executive chairman.
The firm said it would seek to recruit an additional independent director.
In the firm’s results earlier this month, it did not confirm when Douglass would be returning to Magellan.
Recommended for you
The Federal Court has issued its verdict in ASIC's first greenwashing case against Vanguard Investments Australia regarding the use of ESG exclusionary screens.
Investment managers who plan to implement artificial intelligence in the next five years expect to see increased productivity, but views are mixed on whether it will boost revenue and assets under management.
A former corporate adviser has been sentenced in the Supreme Court of Western Australia for insider trading to realise a profit of more than $57,000.
Private markets expertise is sought-after for investment operations hires as allocations to alternative assets rise, according to a recruitment firm, but there is a gap between demand and supply.