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Magellan’s ambitious plans to return to the heights it previously occupied are as shaky as ever. There’s hope that the ship might still be righted, but it won’t be David George doing it.
Magellan has flagged acquisitions and the addition of alternatives strategies as part of a five-year plan to reclaim the $100 billion plus heights it last scaled in 2021.
A new CEO will go part of the way to convincing investors that Magellan can be turned around. But proving to those investors that they need Magellan, not an index, will be harder.