Updated Jul 1, 2026 – 5.49pm, first published at 1.26pmTwo of the country’s top deal makers and founders of Barrenjoey, Matthew Grounds and Guy Fowler, are sitting on stakes worth about $218 million each following the investment bank’s merger with asset manager Magellan Financial.The merger, announced in March, values the combined financial services group at $1.6 billion. Magellan issued 106.8 million ordinary shares to Barrenjoey investors on Wednesday as part of the merger.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles