New blow for Gartmore as Rambourg quits firm

Thu Jul 15, 2010




In a big new blow for London-listed fund management group Gartmore, Guillaume Rambourg - the star manager, together with Roger Guy, of the firm's key European equity business - has decided to leave the firm as a result of the ongoing probe into his trading and trade-directing activities.

His departure follows a tempestuous few months at the London-based investment group - whose shares have halved since the firm floated on the London Stock Exchange at the end of last year, largely as a result of regulatory and trading investigations concerning Rambourg.

The firm first sent shockwaves through the City and through its own investor base when it announced at the March that it had suspended Rambourg while an internal investigation was being conducted into internal breaches of procedures regarding directing trades.

A month later, at the end of April, Gartmore announced that the...

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