Magellan appoints new CEO

Magellan Asset Management has appointed former Maple-Brown Abbott boss, Sophia Rahmani as its new chief executive.

Rahmani will join the firm in May 2024 and it is intended she will transition to a chief executive role within 12 months, at which point executive chairman Andrew Formica will move to a non-executive role.

Her appointment comes after David George left the firm in October last year in a surprise move after serving just over a year in the role.

Rahmani has been the CEO and managing director of Maple-Brown Abbott for four years. Prior to that she was the COO, Pan Asia for Janus Henderson Investors based in Singapore. She has also done stints at Henderson Global Investors and Macquarie Group.