Russell becomes latest manager to quit Gartmore

Gartmore has seen the departure of another fund manager as Andrew Russell quits the firm.

The manager of the Long-Term Balanced and offshore Global Bond and Euro Money funds has left after serving nine years with the troubled group. Russell, who is also co-head of structured portfolio management, follows Gervais Williams, Guillaume Rambourg, Roger Guy and Dominic Rossi - all senior figures that have left in the past year. Management of the £55.6m Long-Term Balanced fund has been passed to co-manager William Edgar while John Anderson has taken over the offshore vehicles. Russell also previously ran the group's Fledgling Trust but stood down in 2008.