Magellan Financial Group Limited’s (ASX: MFG) CEO Hamish Douglass Swaps Role With Chairman Dr Brett Cairns

  • Oct 04, 2018 AEST
  • Team Kalkine
Magellan Financial Group Limited’s (ASX: MFG) CEO Hamish Douglass Swaps Role With Chairman Dr Brett Cairns

Magellan Financial Group co-founder Hamish Douglass steps aside as Chief Executive Officer and takes the role of chairman at Magellan, swapping position with current Chairman Dr. Brett Cairns.

In a media release dated 4 October 2018 Magellan Financial Group announced the roles-turaround of current CEO Hamish Douglass and Chairman Dr. Brett Cairns. The report reads that Brett Cairns has been appointed as Chief Executive Officer and Managing Director at Magellan, effective from 5 October 2018, while CEO Hamish Douglass steps down and becomes the Chairman of the group.

The management further advised that Mr. Douglass will retire from the Board of Magellan’s operating subsidiary, Magellan Asset Management Limited and on his retirement, Magellan’s Chief Financial Officer, Ms. Kirsten Morton, has been appointed to the Board.

With the switch in roles, Dr. Cairns will take the helm of Magellan Financial Group, leading the day-to-day operations of the group and Mr. Douglass is said to focus on client’s investment as Chief Investment Officer and the Lead Portfolio Manager of Magellan’s Global Equities strategies.

Newly appointed CEO Dr. Cairns has been the part of Magellan since January 2007 when he first joined as a Non-executive Director of the Company. Later, he became Chairman of the Board in 2013 following to Executive Chairman role in 2015. Magellan informed that Dr. Cairns has worked closely with all primary businesses of the Group and is now entrusted with the responsibility of non-investment management.   

Along with announcing management and Board changes Magellan also announced the Funds Under Management for September 2018. In the months ended 28 September 2018, Magellan reported total Funds Under management (FUM) of $74.545 billion compared to $74.612 billion in previous month ended 31 August 2018. As per the report, the company has a net inflow of $86 million in September 2018, which included net retail inflows of $60 million and institutional inflows of $26 million.

In the recently released full-year results for period ended 30 June 2018, Magellan posted 34% growth in revenue to $452.6 million compared to $338.3 million in prior year. Profit after tax post MGG net offer costs and amortization increased by 8% and amounted to $211.8 million in FY18 against the $196.2 million in FY17. As a result, FY18 diluted EPS stood at 122 cents per share, marked a decent growth of 7% on Y-o-Y basis.

At the time of writing, i.e. 4 October 2018 (1:23 PM AEST), MFG’s share price has surged up by 7.892% to $29.120. The stock has seen a performance growth of 9.72% over the past one year while it is currently trading at PE of 22.120 x with market capitalization of $4.76 billion.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK