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...