'He has a big job on his hands': Reaction to Jupiter hiring Formica as CEO

Takeover rumours continue

Beth Brearley
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Jupiter has recruited Andrew Formica to lead the business
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Jupiter has recruited Andrew Formica to lead the business

Industry commentators have welcomed the appointment of former co-CEO of Janus Henderson Andrew Formica as chief executive of Jupiter Fund Management, but warned the task of turning around the asset manager will be no mean feat.

Formica is expected to take over as CEO and director of the firm from 1 March, subject to regulatory approvals, it was announced this morning (22 January) with current CEO Slendebroek remaining in the business until 1 May to ensure a smooth leadership transition and handover. Sophie Kennedy, head of investing at EQ Investors, said: "It's good to see Andrew Formica returning to the funds industry; we were surprised by his departure from Janus Henderson. He certainly has a big job on his hands at Jupiter." Morningstar said in a statement that it did not expect "any sea change in the fir...

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