Magellan names new chief

David George
Magellan Asset Management Limited - Chief Executive
Magellan Asset Management Limited
Date: 11 May 2022
Position: Chief Executive
By Elizabeth Fry

Magellan Asset Management has appointed Future Fund's deputy investment chief as its new chief executive.

George, who oversaw public markets for the $249 billion sovereign wealth fund, will take over from acting chief executive Kirsten Morton.

Magellan chairman Hamish McLennan said George had deep funds management experience developed over a career in Australia and Canada.

"As an external hire, David brings an outstanding investment management pedigree, a strong client service, results orientation, and fresh perspectives to our team," he added.

McLennan said the fund manager is in strong financial health as it executes its investment strategies, capital management program, and staff retention initiatives.

In 2018, George landed the role of deputy investment chief for public markets after running debt and alternatives.

As deputy chief investment officer of public markets at the Future Fund, he oversaw assets of $170 billion.

"In this role, Mr. George was pivotal in driving investment processes and supporting a diverse and inclusive team culture," Magellan said.

George joined the Future Fund in 2008.

Before that, he held senior roles at Mercer Investment Consulting, the Royal Bank of Canada, and Integra Capital.

Commenting on his appointment, George said Magellan has a significant depth of talent and has demonstrated consistent investment and operational excellence through time.

"I look forward to working with the team to build upon this track record of success, generating strong and sustained investment results for our clients."

Hamish Douglass, who held the roles of chairman and investment chief, stepped down from Magellan last year in March on medical grounds.