Magellan Financial Group co-founder Hamish Douglass and Treasurer Josh Frydenberg (Images: Supplied, AAP)

The media has been full of coverage about Magellan Financial Group co-founder Hamish Douglass ever since his struggling funds management company released this statement on December 8 confirming he has been separated from his wife Alexandra for several months.

The move coincided with the shock resignation of CEO Brett Cairns for “personal reasons” two days earlier and was followed by a trading halt before Magellan announced it had lost its biggest client when St James Place withdraw almost $20 billion in funds. This disclosure alone triggered an additional 33% rout in the share price last Monday.

The Magellan coverage has ranged from tabloid probes by The Daily Mail to long features in the business pages looking at the business implications, but Douglass is clearly bitter about the attention, telling the AFR this week: “There’s a time when people should really stay out of people’s personal lives,” he said, slamming “some of the stuff in the newspapers”.