managers Janus Capital and UK-based Henderson Group have announced their
intention to merge, creating a $300 billion entity.
group, Janus Henderson Global Investors, is expected to be created in the
second quarter of 2017, the two companies said in a market notice. The merger
will increase the groups’ distribution capabilities, particularly in the Middle
East, Latin America, and Asia Pacific regions.
biggest shareholder, Japanese life insurance giant Dai-ichi, intends to
support the merger, the statement added. It also intends to buy into the
combined asset management group post-merger to hold 15% of shares.
Janus CEO Dick Weil said the move was “transformational,” adding that “the complementary
nature of the two firms will facilitate a smooth integration.”
and Janus are well-aligned in terms of strategy, business mix, and most
importantly a culture of serving our clients by focusing on independent, active
asset management,” added Henderson CEO Andrew Formica.
and Weil are to be co-CEOs of the new company. Enrique Chang,
currently head of investments at Janus, is to be Janus Henderson Global
Investors’ global CIO. Chang was promoted to his current role in April, having
previously led its equities and asset allocation groups.
as a result of the merger are projected to save $110 million annually following
completion of the deal, the two companies said.
Gross in September 2014 following the veteran bond manager’s surprise
resignation from the firm he co-founded in 1971.
Janus-Henderson tie-up is one of the biggest financial mergers or acquisitions
of the past 12 months. Willis
Group and Towers Watson completed their merger earlier this year, while MassMutual
merged away its boutique asset management brands under the Barings Asset
Management banner. The London
Stock Exchange and Deutsche Börse agreed
to merge in March, creating a $30 billion financial giant.
Names New Investment Chief & Fade to Black