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Magellan chief steps down as company bleeds funds

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Magellan boss David George left the role on Wednesday, after just 17 months in the role, as the fund manager looks to restore its once high-flying status.

Magellan Financial Group’s chief executive has stepped down after just 17 months in the role as the embattled fund manager looks to win back clients and turn around its performance.

“The board is grateful for David’s contribution during a challenging time for the business, including his role in stabilising and improving the core funds management business,” the company said.

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