Gartmore has suspended high profile fund manager Guillaume Rambourg pending the outcome of an internal investigation in relation to trading breaches.
Following consultation with the FSA today, Gartmore suspended Rambourg until conclusion of the investigation into directing trades. In the meantime, assets managed by Rambourg continue to be managed by Roger Guy. Gartmore says it has not identified any information to date which suggests its clients have suffered any loss as a result of these breaches. Gartmore's share price has plummeted over 31.4% on the news. Guy and Rambourg manage more than 20% of Gartmore's £21bn investments. The pair account for about 40% of group revenues, including performance fees. AlphaGen Capella, the...
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