Magellan Financial Group Limited (ASX:MFG – Get Free Report) insider Catherine Kovacs bought 12,400 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average price of A$8.02 ($5.35) per share, for a total transaction of A$99,448.00 ($66,298.67). Magellan Financial Group Stock Performance The company has a […]
Almost 60% of Magellan Financial Group s shareholders rejected the company s remuneration report at yesterday s annual meeting, registering a first strike.
Total platform funds under administration were $41.4 billion, a 141% rise from $17.2 billion year ago, while the total funds under administration were $58.6 billion.
It signed 26 new licensee agreements during the last quarter, predominantly with self-licenced advisers or advice practices who were part of advice aggregators which meant the total number of advisers using the platform grew by 48% in the financial year.
“Given HUB24’s significant growth in FY21, the expansion of our product and service offerings and the opportunities available in the market, HUB24 is investing to support growth,” the firm said.
“The company will be expanding the executive team, hiring additional distribution team members and investing in technology infrastructure to support scale and ongoing innovation.”
Prior to that, Kovacs held executive roles at BT Financial Group as head of equities where her responsibilities included product development and distribution of equity products to licensees, advisers and retail investors; Ellerston Capital where she was head of investor relations, sales and marketing; and Macquarie Group as divisions director, equity markets group.
Currently, Kovacs was non-executive director of cross-border payments company OFX, fintech Equitise, and the University Admission Centre.
Bruce Higgins, HUB24 chair, said: “Cathy’s broad executive experience in fintech, business strategy and growth, and investments including M&A, further strengthens and expands the board skillset and supports our commitment to diversity. I look forward to Cathy’s contribution as a director of HUB24 Limited”.