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Fry quits Premier after two decades

Structured product innovator Jonathan Fry has unexpectedly quit as joint chief executive of Premier Asset Management.

Fry, who was at Premier for nearly 20 years, says he has been approached by a number of people from inside and outside the industry and wants a clean break to assess the opportunities.

Mike O’Shea is expected to continue as Premier’s sole chief executive.

Premier Asset Management was set up in 1985 and Fry joined a year later to set up Premier Fund Managers, concentrating on private client portfolios.

Among Fry’s innovations were the global 100 index and equity protector funds which use deriva- tives to lock in gains while providing exposure to the upside of indices.

Fry says: “It has been a very exciting and challenging last 20 years but I have had a number of approaches and decided it is time for a clean break.

“I am too young to do nothing and want to make sure my next position will be equally as successful as Premier.”

O’Shea says: “Jonathan has decided to resign as a director of the company in order to seek new challenges in his career.”

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