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Janus Founder Bailey Sells Remaining Stake in Firm

Will remain at Janus as chief executive, firm says.

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Janus announced Wednesday that firm founder and chief executive Tom Bailey is selling his remaining shares in the company to Janus' parent company, Stilwell Financial (SV)

According to press releases from both Janus and Stilwell, Bailey is selling 600,000 shares in Janus, a stake worth approximately $603 million. At the close of the sale, Stilwell will own 97.8% of Janus, with the remainder owned by Janus employees.

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Catherine Hickey does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.