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Magellan names Rahmani as new chief, reports NPAT lift

Magellan Financial Group is hopeful new managing director Sophia Rahmani will help steady the ship, as it sharpens its focus on the US and reports a 24% increase in statutory net profit after tax despite plummeting funds under management.

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Read more: Magellan Financial GroupSophia RahmaniAirlie Funds ManagementAlan PullenAndrew FormicaArvid StreimannBarrenjoey Capital PartnersDavid GeorgeFinClearMagellan Asset ManagementMagellan Global Fund Closed ClassMaple-Brown Abbott