Completion of Barrenjoey merger
| Stock | Magellan Financial Group Ltd (MFG.ASX) |
|---|---|
| Release Time | 1 Jul 2026, 9:58 a.m. |
| Price Sensitive | Yes |
Magellan Financial Group Completes Barrenjoey Merger
- Merger creates a diversified Australian financial services group
- Group to be renamed Barrenjoey Group Limited
- Brian Benari appointed CEO, David Gonski AC as Independent Non-Executive Chairman
- Full-year financial results to be released on 27 August 2026
Magellan Financial Group Ltd (MFG) has successfully completed its merger with Barrenjoey Capital Partners Group, creating a diversified Australian financial services group. The new entity will operate across Investment Management, Financial Markets, and Corporate Finance. Subject to shareholder approval at the 2026 Annual General Meeting, the company will be renamed Barrenjoey Group Limited and the ASX ticker will change from MFG to BJY. David Gonski AC has been appointed as the Independent Non-Executive Chairman, and Brian Benari has been appointed as the Chief Executive Officer. The merger combines MFG's investment management and distribution business with Barrenjoey's financial markets and corporate finance businesses. The full-year financial results for the year ended 30 June 2026 will be released on 27 August 2026.
MFG shares issued to Barrenjoey employees subject to vesting restrictions
The merger is expected to enhance the product and services offering, diversify earnings, and strengthen the balance sheet.