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ABN hits back at breach of contract allegations

ABN Amro has rejected allegations that it made star managers George Luckraft and Nigel Thomas&#39 positions untenable, saying it did not cause any breach of contract.

Global chief executive Tom Cross-Brown says he “unreservedly” rejects the two managers&#39 allegations that ABN had breached the managers&#39 contracts, which he believes remain in force.

He says ABN will “do everything” to protect the interests of its clients and will continue to seek pedigree replacements to satisfy both investors and intermediaries.

ABN has also announced the interim replacements for Luckraft and Thomas. James Cotton takes over the UK growth and UK select opportunities funds, Adam Gray the equity income fund and Dan James and Gray the high income fund.

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