Gartmore shares slide 22% on Guy retirement plans

Gartmore shares have dived more than 22% in morning trading following Roger Guy's decision to retire from fund management.

The group, which took a major hit following the suspension and subsequent exit of Guy’s former co-manager Guillaume Rambourg, has slid 22.16% to 98p. Gartmore says Guy will continue to manage funds and will work closely with the new European equities team to ensure the smooth transition of his responsibilities to Bennett. This transition will be fully implemented in the New Year. Guy will remain available to the company on a consultancy basis until May 2011. Elsewhere in asset management, Henderson declined 0.15% to 137p while Schroders NV was down 0.31% to £12.66. Aberdeen shares ...