The merger Henderson Group and Janus Capital Group has completed seven months after it was first announced.
The combined entity, called Janus Henderson, has delisted from the London Stock Exchange and will continue to trade on the New York and Australian markets.
Described as a 'merger of equals', the London-headquartered business creates a company with around $331 billion (£257 billion) in assets under management. It is expected to deliver $110 million in cost synergies.
As announced on 20 March - when the line-up of the board was finalised - Janus chief executive Dick Weil and Henderson boss Andrew Formica (pictured) become co-CEOs for the company, which has a combined market capitalisation of $6 billion.
Formica said: ‘Our work together since announcement has reinforced our shared culture and aligned business goals. The breadth and depth of investment professionals and the broad array of talented colleagues gives us an enviable position to meet our clients' needs.’
Weil added: ‘The combined firm, Janus Henderson, creates a truly global active asset manager that is well-positioned to succeed in the investment marketplace, with expanded product suites, greater financial strength and better talent, benefiting our clients, shareholders and employees.’
According to Janus’s Denver office, integration is mostly complete with only some details like fund names and databases around the world to be finalised. It expects to acheive this in the next 12 months or so.
The launch will see a very small movement of executive staff from the US to London, with no redundancies or departures expected in the near future.
The executive committee will comprise both Janus and Henderson staff, who will report into the co-CEOs.
Janus head of investments Enrique Chang has become global CIO, president Bruce Koepfgen has become head of North America, CFO Jennifer McPeek is now chief operating and strategy officer and chief compliance officer David Kowalski the chief risk officer.
On the Henderson side, global head of distribution Phil Wagstaff is the new global head of distribution, executive chairman pan-Asia Rob Adams has become head of Asia Pacific while CFO Roger Thompson and secretary/general counsel Jacqui Irvine continue in the same post.
Henderson and Janus shareholders are expected to hold 57% and 43% of the company respectively.
The merger was announced in October 2016 pushing Henderson’s stock price up by 15% at the time.