Fund managers reshuffle board for $413bn merger

The new board has been selected for the historic global funds management merger announced in October last year.

Following the completion of the merger between Henderson Group and Janus Capital, the new board will consist of chair Richard Gillingwater, deputy chair Glenn Schafer and non-executive directors Sarah Arkle, Kalpana Desai, Jeffrey Diermeier, Kevin Dolan, Eugene Flood Jr., Lawrence Kochard, Angela Seymour-Jackson and Tatsusaburo Yamamoto.

Henderson chief executive Andrew Formica and Janus chief executive Richard Weil will also join the board as co-chief executives.

Current Henderson directors Roger Thompson, Philip Wagstaff, Timothy How and Robert Jeens will resign from their board positions, but Thompson and Wagstaff will continue on in the combined entity as chief financial officer and global head of distribution respectively.

When the merger was announced, Formica said that the two groups are "well-aligned in terms of strategy, business mix and most importantly a culture of serving our clients by focusing on independent, active asset management."

"I look forward to working side-by-side with Dick as we create a company with the scale to serve more clients globally, as well as the strength to meet their future needs and the growing demands of our industry," he added.

Weil said: "The complementary nature of the two firms will facilitate a smooth integration and create an organisation with an expanded client-facing team and product suite, greater financial strength and enhanced talent, benefiting clients, shareholders and employees."

Read more: Andrew FormicaHenderson GroupPhilip WagstaffRichard WeilRoger ThompsonAngela Seymour-JacksonCurrent HendersonDickEugene Flood Jr.Glenn SchaferJeffrey DiermeierKalpana DesaiKevin DolanLawrence KochardRichard GillingwaterRobert JeensSarah ArkleTatsusaburo YamamotoTimothy
Editor's Choice
EMMA RAPAPORT
Industry super thought leaders have urged the sector to harness the power of the collective and collaborate more closely on problem solving to ensure longevity and continued member engagement.
ALEX BURKE
Citi is expanding its wealth management business with four new hires.
ALEX BURKE
ASIC's investigation into CommInsure found no evidence of claims managers applying pressure on medical staff to change assessments, although the regulator said claims handling fell short of community expectations.
KARREN VERGARA
AZ Sestante, a subsidiary of Italian wealth management firm Azimut Holdings, recently entered the Australian market by launching three new funds on the Colonial First State platform.
Videos
Brought to you by
1 MAR 2017
A highly agile and active asset allocation approach requires skill, experience and discipline. Led by Michael O'Dea, Perpetual's Multi Asset team has just that; with an average 17 years' judgement and ...
Get it Daily
Keep up to date, don't be the last to know! Get the Financial Standard Daily Newsletter.
SUBSCRIBE
Products
Pocket investment guides featuring adviser case studies and a glossary.
Investing trends and strategies from the industry’s thought leaders.
Putting the spotlight on investment products that matter.
Expert Feed
Christopher Page
FS ADVICE
A new era
After years of back and forth, the legislation to increase the professional standards of financial advisers has been passed. The new ...
Stephen Fay
FS SUPER
Starting at the insurance base camp with focus on value
Insurance can be a complex beast, but in a period where its reputation may be strained it is all the more important to talk of some ...
Christopher Page
FS PRIVATE WEALTH
Redefining the family office
While the family office model has traditionally been the preserve of the ultra-rich, this may be changing very soon. Last week, Findex ...
Michelle Baltazar
FS MANAGED ACCOUNTS
Like rocket fuel to a Spaceship
When a superannuation fund calls itself a Spaceship and nobody bats an eyelid, you know you're entering a new era in retirement investing. Spaceship's ...
Featured Profile
Professional Subscription for $295
(inc GST) for 1 year.
SUBSCRIBE
OTHER PUBLICATIONS
FS Advice
The Australian Journal of Financial Planning.
Get the free iPad app
Download the Financial Standard iPad app for FREE.
DOWNLOAD
Link to something RTFs33lq