year for Gartmore, the beleaguered London-listed asset manager,
took a dramatic turn for the worse today ( 8 November 2010) as
the firm announced the departure of its star fund manager Roger
Guy and the start of a strategic review led by Goldman Sachs
that is likely to lead to a sale or merger of the group.
Roger Guy from Gartmore
the manager of the firm's large-cap European equities funds,
has been the instigator and figurehead of Gartmore's hedge fund
business - which has been the chief engine of the group's
growth and profitability over the years, which now looks to be
in disarray. He is also the manager of two UCITS hedge funds:
European Absolute Return Fund and European Best Ideas Absolute
His departure follows that of his co-manager and long-term
business partner Guillaume Rambourg earlier this year,
following an internal and FSA...