The Board of Magellan Financial Group Limited announce that the Group has appointed Mr. David George as Managing Director following a global search. Mr. George is a respected investment leader with over 20 years' experience across analytical roles, investment management and organisational leadership in Australia and Canada. Most recently, Mr. George held the role of Deputy Chief Investment Officer, Public Markets at the Future Fund (Australia's Sovereign Wealth Fund), where he oversaw an asset base in excess of AUD 170 billion and four teams comprising 25 investment professionals.

Mr. George will take direct responsibility for the Group's investment functions as well as having overall responsibility for Magellan's operations as the CEO. Mr. George will also be appointed as Managing Director of the Magellan Board and Magellan Asset Management Limited, Magellan's main operating subsidiary. Mr. George will commence with Magellan on 8 August 2022 or such earlier date agreed between the parties.

Ms. Morton will continue in the role of Interim CEO until this time, before commencing her new dual COO and CFO role.