World Today: Mr Formica and European Union

world today: External Link: Peter Ryan speaks with Henderson Group chief executive Andrew Formica Speaking in Sydney, Mr Formica told The World Today he is more concerned about tighter regulation of funds in the wake of the global financial crisis than he is about Britain leaving the European Union, the rise of Donald Trump and the falling British pound, according to Australian Broadcasting Corporation. The merger, which is subject to investor and regulatory approval, will create a $US6 billion company and, between them, Henderson and Janus will have $US320 billion of assets under management. "The discussion on Brexit is not really relevant to this deal in the sense that conversations started back in February and carried on prior to the vote," Mr Formica said. "They weren't influenced by Brexit, they weren't accelerated or decelerated by Brexit," he said. "We're looking at something that you judge on a 10 to 15-year view and discussions around the EU and the UK really will be a drop in the ocean." Mr Formica is in Australia with proposed co-chief executive Dick Weil from Janus to promote the proposed deal to investors and institutions. Related Story: Could Brexit be the Trump card in the US election Map: Australia Henderson Group chief executive Andrew Formica has shrugged off concerns about Brexit and Donald Trump as he sells a multi-billion-dollar merger with the US funds management giant Janus to investors. Both will head Janus Henderson Global Investors in a deal billed as "a merger of equals". Mr Formica also said he was unconcerned about the falling value of the British pound against the US dollar and Brexit. "Regardless of what form the UK takes in Europe going forward, the UK market will be a large market for us as a firm, as will Europe," he said. "What happening with the pound, what happening with the UK economy was less relevant to this. The merger is important for both Henderson and Janus given anticipated cost savings of $US110 million per year. So being a truly global business helps us diversify against any one market or risk." Photo: Andrew Formica, chief executive of Henderson While Janus has deep exposure in the United States, Mr Formica is similarly unconcerned about Donald Trump tilt for the White House and that his threat to unwind trade agreements could destabilise financial markets. (news.financializer.com). As reported in the news.