The co-CEOs of the global investment management giant Henderson Global investors and Janus Capital, Andrew Formica and Richard Weil, recently expressed their views on keeping the merged firm headquartered in London. Convinced by the city’s reputation and prestige as the hub of global finance, Formica outlined that regardless of the rampant pessimism surrounding Brexit, London retains its credibility as the most suitable focal point for businesses that need to not only create a stronghold over the American continents but also spread their wings across Asia. Commenting on the befitting infrastructure and support that the city provides for the growth and development of global businesses, Henderson chief further added that London can be rightly touted as the most suitable location for creating a base for their company.
The Janus-Henderson Merger
Recently this month on the 3rd of October, both the Janus Capital Group and Henderson Group unveiled their plans for entering into collaboration, and building an alliance that will be worth $320 billion of assets under management. With both the Janus Capital and its CEO Richard Weil based in Denver, Colorado, a major chunk of the top management positions and official workforce will be managed from the county. Formica further remarked that the United States will continue to be the largest contributor for the merged firm, with nearly half of the profits and more than half of the assets originating here. He further added that regardless of the company’s expansion across other continents of the world, America can be expected to be the largest contributor even in terms of future growth. For a smooth functioning of the merger, both Formica and Weil will have their offices based in London, implying that the latter will have to relocate to the city to take up charge of his duties.
Creation of a widespread global business would imply a few major modifications in the staff positions and a huge responsibility for the newly appointed executives. For example, the president at Janus Capital Group, Bruce Koepfgen will retain his location in Denver, but will be appointed as the chief of the business operations in North America. Weil stated that a new venture of a stature such as this requires heavy research in realigning the executive positions of the initial groups, and creating a workforce that is a fine example of talent based allocation. Addressing their strategy of leading by example, Weil describes his relocation to the London office as a source of motivation for the London staff that will be asked to move their office to other regions in the world such as Denver.
In terms of listing, The Henderson Group will be delisting form the London Stock Exchange and the new merged firm will be joining the NYSE.