Our highly regarded and well-qualified directors ensure that Magellan is run in the interests of share holders, clients and staff.
Andrew Formica
Andrew Formica is Non-Executive Chairman of Magellan Financial Group (MFG). Andrew joined Magellan in July 2023 as a Non-Executive Director and served as Executive Chairman of MFG from 25 October 2023 to 28 February 2025.
Andrew Formica has 30 years’ experience in leading and growing investment businesses within the funds management industry globally, 14 years of which were as CEO. Most recently, Andrew was Chief Executive Officer (CEO) and Director of Jupiter Asset Management plc, where he served from March 2019 to September 2022. Prior to this, Andrew was Co-CEO of Janus Henderson Group plc, and prior was the Chief Executive and a Board member of Henderson Group plc (“Henderson”) from 2008 before the merger with Janus Capital in 2017. Andrew was at Henderson and its prior business from 1993 and held various senior roles, including Joint Managing Director of Henderson’s Listed Assets business (from September 2006) and Head of Equities (from September 2004). In the early part of his career, Andrew was an equities portfolio manager and analyst for AMPAM and Henderson.
Andrew is a Fellow of the Institute of Actuaries both in the UK and Australia. Andrew was also previously Deputy Chairman of the Board of the Investment Association and formerly a Board member of Hammerson Group plc. Andrew earned a master’s degree in economics from Macquarie University in 1992 and an MBA from London Business School in 2001.
Committees
Member of MFG Audit and Risk Committee
Member of MFG Remuneration and Nominations Committee
Sophia Rahmani
Sophia joined Magellan in May 2024 as Managing Director of Magellan Asset Management. In March 2025 Sophia was appointed CEO and Managing Director of Magellan Financial Group.
Sophia has over 20 years’ experience in financial services with a focus on leading and growing asset management businesses within Australia and globally. Most recently, Sophia was the Chief Executive Officer and Managing Director of Maple-Brown Abbott from October 2019 to March 2024, where she spearheaded the firm’s growth in investment capabilities, offerings, services and distribution channels. Prior to this, Sophia was the Chief Operating Officer, Pan Asia, for Janus Henderson Investors based in Singapore, having previously been with Henderson Global Investors as Chief Operating Officer, Australia, from 2013 where she was a key member of the team responsible for establishing and growing the business in Australia.
Sophia also spent eight years with the Macquarie Group, principally in its asset management division, with experience across strategy, mergers and acquisitions, product and marketing. During this period, she spent time based in Sydney, New York and Philadelphia. Sophia started her career as a solicitor at King & Wood Mallesons. Sophia holds a Bachelor of Laws (Hons) and Bachelor of Commerce (majoring in Accounting and Finance) from The Australian National University. She also holds a Graduate Diploma of Applied Finance and Investments and is a Graduate of the Australian Institute of Company Directors.
Deborah Page, AM
Deborah Page AM was appointed as a Non-Executive Director on 3 October 2023.
Mrs Page is an experienced chair and company director with broad industry experience spanning various ASX listed, private, public sector and regulated entities including in the funds management, property, utilities, insurance, technology and renewables sectors. Mrs Page is currently a Non-Executive Director of Brickworks Limited (appointed July 2014), Growthpoint Properties Australia Limited (appointed March 2021) and The Star Entertainment Group Limited (appointed March 2023). She was previously Chairman of Pendal Group Limited (from January 2022 – January 2023 and Non-Executive Director from April 2014 – January 2023) and Investa Listed Funds Management Limited (the responsible entity of ASX Listed Investa Office Fund) and a Non-Executive Director of Service Stream Limited (September 2010 – April 2023), GBST Holdings Limited, Australian Renewable Fuels Limited and Investa Property Group. She was also formerly Non-Executive Director of The Colonial Mutual Life Assurance Society Limited and Commonwealth Insurance Limited.
Mrs Page is a Chartered Accountant with dual audit partner and CFO experience during her executive career, and she brings extensive governance, Board and Audit Committee Chair experience as well as corporate finance, accounting, audit, mergers and acquisitions, capital markets, insurance and joint venture arrangements.
She has been a professional director since 2001 and holds a degree in Economics from the University of Sydney and is a Fellow of Chartered Accountants Australia and New Zealand and the Australian Institute of Company Directors. She is also a Member of the Takeovers Panel and Chief Executive Women. In 2006, she received an Order of Australia for services to public health, business and the accounting profession.
Committees
Chair of the MFG Audit and Risk Committee
Member of the MFG Remuneration and Nominations Committee
David Dixon
David Dixon was appointed as a Non-Executive Director on 15 December 2022.
David Dixon has over 30 years’ experience in leading and growing investment businesses within the funds management industry. He has extensive experience as a senior investment leader, board trustee and director of companies. From 2013 – 2020, David was Chief Investment Officer, Equities at First Sentier Investors (formerly Colonial First State Global Asset Management) (“FSI”). In this role, David was responsible for the Australian based equity teams managing domestic and international equities. He also was responsible for the global equities dealing teams in Australia and overseas. From 2003 – 2013 he was FSI’s Global Chief Investment Officer, where he was responsible for the investment functions within the entity, of the Australian and global equities, global infrastructure, global resources, global property, quantitative equites, fixed income, private equity investments, economics and market research.
Prior to FSI, David was the Head of Equities (1995 – 2002) and Chief Investment Officer (2002 – 2003) at Insurance Australia Group Limited. From 1986 - 1995 he held numerous roles at Westpac Investment Management including equity analyst, portfolio manager and Head of Corporate Research.
David is currently a Non-Director Member of the Aware Super Investment Committee (appointed January 2021). He also previously held directorial roles across a number of Commonwealth Bank of Australia subsidiaries within the Wealth Management division along with member roles on ASIC's Market Supervision Advisory Panel and the Financial Services Council Investment Board.
David was awarded the Financial Services Council Industry Excellence Award in 2012. He holds a Bachelor of Business (Finance and Economics) from the University of Technology Sydney.
Committees
Member of MFG Audit and Risk Committee
Member of MFG Remuneration and Nominations Committee
John Eales, AM
John Eales AM was appointed as a Non-Executive Director on 1 July 2017.
John graduated from the University of Queensland in 1991 and enjoyed a 10 year international sporting career with the Australian rugby team from 1991, captaining the Wallabies from 1996 until 2001.
John has served as an executive, adviser, director and investor in a number of listed and unlisted private organisations. John co-founded the Mettle Group in 2003 – a corporate consultancy which was acquired by Chandler Macleod in 2007.
John is currently Chairman of Trajan Group (since March 2021) and also serves on the Boards of Flight Centre Travel Group (since September 2012), and FUJIFILM Data Management Solutions Pty. He continues to serve as a consultant to some Australian and international companies. John has authored books, is the Chair of the World Rugby Hall of Fame and was on the Rugby Australia Bid Advisory Committee for the Rugby World Cup 2027.
He was made a Member of the Order of Australia in 1999 for services to the community and rugby and is a Patron of the Melanoma Foundation, Hearts in Union and the Champagnat Trust. John holds a Bachelor of Arts from the University of Queensland and is a graduate of the Australian Institute of Company Directors.
Committees
Member of the MFG Audit and Risk Committee
Chairman of the MFG Remuneration and Nominations Committee
Cathy Kovacs
Cathy Kovacs was appointed as a Non-Executive Director on 6 November 2023.
Cathy Kovacs is an experienced company director and financial services professional, currently serving on the boards of ASX listed, private and not for profit companies. Ms Kovacs is a Non-Executive Director of wealth tech HUB24 (appointed July 2021), international payments provider OFX (appointed February 2021), Universities Admission Centre (UAC) for ACT and NSW, and lendtech Grapple Holdings Limited.
Ms Kovacs has 30 years’ broad experience across the financial services sector including senior leadership roles at BT Investment Bank, Macquarie Group, Ellerston Capital and Westpac Banking Group. In her last executive role she was responsible for driving Westpac’s strategic initiatives towards the future of financial services and managing a portfolio of investments in early stage innovative and disruptive fintech businesses.
She holds a Bachelor of Commerce from UNSW, a Masters of Applied Finance from Macquarie University, is a Graduate and Member of the Australian Institute of Company Directors, and is a Member of the Association of Superannuation Funds Australia.
Committees
Member of the MFG Audit and Risk Committee
Member of the MFG Remuneration and Nominations Committee
Robert Fraser
Robert Fraser was appointed as a Non-Executive Director on 23 April 2014. Rob was appointed Chairman on 5 June 2019.
Robert is a company director and corporate adviser with 35 years of investment banking experience, specialising in mergers and takeovers, corporate and financial analysis, capital management, equity capital markets and corporate governance.
Robert is currently the Managing Director of TC Corporate Pty Limited, the corporate advisory division of Taylor Collison Limited stockbrokers of which he is a Director and Principal. He is the Non-Executive Chairman of ARB Corporation Limited (Non-Executive Director since February 2004 and Chairman since September 2022). Robert is also a Non-Executive Director of FFI Holdings Limited (since October 2011) and MFF Capital Investments Limited (since May 2019). He is the President of the Muscular Dystrophy Association of New South Wales.
Robert has a Bachelor of Economics and Bachelor of Laws (Hons) degrees from the University of Sydney and is also qualified as a licensed business broker, licensed real estate agent and a registered Tax (financial) Adviser.
David Dixon
David Dixon was appointed as Non-Executive Director of Magellan Asset Management Limited on 1 November 2022.
David Dixon has over 30 years’ experience in leading and growing investment businesses within the funds management industry. He has extensive experience as a senior investment leader, board trustee and director of companies. From 2013 – 2020, David was Chief Investment Officer, Equities at First Sentier Investors (formerly Colonial First State Global Asset Management) (“FSI”). In this role, David was responsible for the Australian based equity teams managing domestic and international equities. He also was responsible for the global equities dealing teams in Australia and overseas. From 2003 – 2013 he was FSI’s Global Chief Investment Officer, where he was responsible for the investment functions within the entity, of the Australian and global equities, global infrastructure, global resources, global property, quantitative equites, fixed income, private equity investments, economics and market research.
Prior to FSI, David was the Head of Equities (1995 – 2002) and Chief Investment Officer (2002 – 2003) at Insurance Australia Group Limited. From 1986 - 1995 he held numerous roles at Westpac Investment Management including equity analyst, portfolio manager and Head of Corporate Research.
David is currently a Non-Director Member of the Aware Super Investment Committee (appointed January 2021). He also previously held directorial roles across a number of Commonwealth Bank of Australia subsidiaries within the Wealth Management division along with member roles on ASIC's Market Supervision Advisory Panel and the Financial Services Council Investment Board.
David was awarded the Financial Services Council Industry Excellence Award in 2012. He holds a Bachelor of Business (Finance and Economics) from the University of Technology Sydney.
Committees
Member of MFG Audit and Risk Committee
Member of MFG Remuneration and Nominations Committee
Sophia Rahmani
Sophia joined Magellan in May 2024 as Managing Director of Magellan Asset Management. In March 2025 Sophia was appointed CEO and Managing Director of Magellan Financial Group.
Sophia has over 20 years’ experience in financial services with a focus on leading and growing asset management businesses within Australia and globally. Most recently, Sophia was the Chief Executive Officer and Managing Director of Maple-Brown Abbott from October 2019 to March 2024, where she spearheaded the firm’s growth in investment capabilities, offerings, services and distribution channels. Prior to this, Sophia was the Chief Operating Officer, Pan Asia, for Janus Henderson Investors based in Singapore, having previously been with Henderson Global Investors as Chief Operating Officer, Australia, from 2013 where she was a key member of the team responsible for establishing and growing the business in Australia.
Sophia also spent eight years with the Macquarie Group, principally in its asset management division, with experience across strategy, mergers and acquisitions, product and marketing. During this period, she spent time based in Sydney, New York and Philadelphia. Sophia started her career as a solicitor at King & Wood Mallesons. Sophia holds a Bachelor of Laws (Hons) and Bachelor of Commerce (majoring in Accounting and Finance) from The Australian National University. She also holds a Graduate Diploma of Applied Finance and Investments and is a Graduate of the Australian Institute of Company Directors.
John Eales, AM
John Eales AM was appointed as a Non-Executive Director on 1 July 2017.
John graduated from the University of Queensland in 1991 and enjoyed a 10 year international sporting career with the Australian rugby team from 1991, captaining the Wallabies from 1996 until 2001.
John has served as an executive, adviser, director and investor in a number of listed and unlisted private organisations. John co-founded the Mettle Group in 2003 – a corporate consultancy which was acquired by Chandler Macleod in 2007.
John is currently Chairman of Trajan Group (since March 2021) and also serves on the Boards of Flight Centre Travel Group (since September 2012), and FUJIFILM Data Management Solutions Pty. He continues to serve as a consultant to some Australian and international companies. John has authored books, is the Chair of the World Rugby Hall of Fame and was on the Rugby Australia Bid Advisory Committee for the Rugby World Cup 2027.
He was made a Member of the Order of Australia in 1999 for services to the community and rugby and is a Patron of the Melanoma Foundation, Hearts in Union and the Champagnat Trust. John holds a Bachelor of Arts from the University of Queensland and is a graduate of the Australian Institute of Company Directors.
Committees
Member of the MFG Audit and Risk Committee
Chairman of the MFG Remuneration and Nominations Committee
Andrew Formica
Andrew Formica is Non-Executive Chairman of Magellan Financial Group (MFG). Andrew joined Magellan in July 2023 as a Non-Executive Director and served as Executive Chairman of MFG from 25 October 2023 to 28 February 2025.
Andrew Formica has 30 years’ experience in leading and growing investment businesses within the funds management industry globally, 14 years of which were as CEO. Most recently, Andrew was Chief Executive Officer (CEO) and Director of Jupiter Asset Management plc, where he served from March 2019 to September 2022. Prior to this, Andrew was Co-CEO of Janus Henderson Group plc, and prior was the Chief Executive and a Board member of Henderson Group plc (“Henderson”) from 2008 before the merger with Janus Capital in 2017. Andrew was at Henderson and its prior business from 1993 and held various senior roles, including Joint Managing Director of Henderson’s Listed Assets business (from September 2006) and Head of Equities (from September 2004). In the early part of his career, Andrew was an equities portfolio manager and analyst for AMPAM and Henderson.
Andrew is a Fellow of the Institute of Actuaries both in the UK and Australia. Andrew was also previously Deputy Chairman of the Board of the Investment Association and formerly a Board member of Hammerson Group plc. Andrew earned a master’s degree in economics from Macquarie University in 1992 and an MBA from London Business School in 2001.
Committees
Member of MFG Audit and Risk Committee
Member of MFG Remuneration and Nominations Committee
Deborah Page, AM
Deborah Page AM was appointed as a Non-Executive Director on 3 October 2023.
Mrs Page is an experienced chair and company director with broad industry experience spanning various ASX listed, private, public sector and regulated entities including in the funds management, property, utilities, insurance, technology and renewables sectors. Mrs Page is currently a Non-Executive Director of Brickworks Limited (appointed July 2014), Growthpoint Properties Australia Limited (appointed March 2021) and The Star Entertainment Group Limited (appointed March 2023). She was previously Chairman of Pendal Group Limited (from January 2022 – January 2023 and Non-Executive Director from April 2014 – January 2023) and Investa Listed Funds Management Limited (the responsible entity of ASX Listed Investa Office Fund) and a Non-Executive Director of Service Stream Limited (September 2010 – April 2023), GBST Holdings Limited, Australian Renewable Fuels Limited and Investa Property Group. She was also formerly Non-Executive Director of The Colonial Mutual Life Assurance Society Limited and Commonwealth Insurance Limited.
Mrs Page is a Chartered Accountant with dual audit partner and CFO experience during her executive career, and she brings extensive governance, Board and Audit Committee Chair experience as well as corporate finance, accounting, audit, mergers and acquisitions, capital markets, insurance and joint venture arrangements.
She has been a professional director since 2001 and holds a degree in Economics from the University of Sydney and is a Fellow of Chartered Accountants Australia and New Zealand and the Australian Institute of Company Directors. She is also a Member of the Takeovers Panel and Chief Executive Women. In 2006, she received an Order of Australia for services to public health, business and the accounting profession.
Committees
Chair of the MFG Audit and Risk Committee
Member of the MFG Remuneration and Nominations Committee
Hamish McLennan
Hamish McLennan was appointed as a Non-Executive Director on 1 March 2016.
Hamish has over 30 years of experience in the media industry. He is currently Chairman of REA Group Limited (appointed February 2012 and Chairman since April 2012), a global online real estate advertising company, Chairman of ARN Media (formerly HT&E Limited, appointed October 2018), an Australian media and entertainment company. Hamish is also a Non-Executive Director of the tech firm Claim Central Consolidated (since January 2020) and an independent director of Light & Wonder, a US gaming company (since November 2020). He was previously Chairman of Rugby Australia (June 2020 to November 2023), Executive Vice President, Office of the Chairman, News Corporation, and Global Chairman & CEO of Young & Rubicam (Y&R) in New York, part of WPP, the world’s largest communications services group. Hamish joined Young & Rubicam in 2002 as Chairman and CEO of Y&R Brands Australia/New Zealand, one of the largest marketing services groups in Australasia, and led the firm’s global business operations from 2006 to 2011. He was also previously Executive Chairman and Chief Executive Officer (March 2014 to July 2015) and Chief Executive Officer and Managing Director (February 2013 to March 2014) of Australian media company Ten Network Holdings Limited. He has previously served on the Boards of Directors for the United Negro College Fund (UNCF) and the US Ad Council.
Committees
Member of the MFG Audit and Risk Committee
Member of the MFG Remuneration and Nominations Committee
Cathy Kovacs
Cathy Kovacs was appointed as a Non-Executive Director on 6 November 2023.
Cathy Kovacs is an experienced company director and financial services professional, currently serving on the boards of ASX listed, private and not for profit companies. Ms Kovacs is a Non-Executive Director of wealth tech HUB24 (appointed July 2021), international payments provider OFX (appointed February 2021), Universities Admission Centre (UAC) for ACT and NSW, and lendtech Grapple Holdings Limited.
Ms Kovacs has 30 years’ broad experience across the financial services sector including senior leadership roles at BT Investment Bank, Macquarie Group, Ellerston Capital and Westpac Banking Group. In her last executive role she was responsible for driving Westpac’s strategic initiatives towards the future of financial services and managing a portfolio of investments in early stage innovative and disruptive fintech businesses.
She holds a Bachelor of Commerce from UNSW, a Masters of Applied Finance from Macquarie University, is a Graduate and Member of the Australian Institute of Company Directors, and is a Member of the Association of Superannuation Funds Australia.
Committees
Member of the MFG Audit and Risk Committee
Member of the MFG Remuneration and Nominations Committee