The Financial Services Authority has dropped its probe into former Gartmore fund manager Guillaume Rambourg.
Rambourg was previously co-manager of the group’s European absolute return fund alongside Roger Guy, but was suspended from management duties in March 30, 2010 following an alleged breach of internal dealing rules.
Rambourg returned to Gartmore in June 2010 as a senior investment analyst in the European large-cap team. The FSA launched an investigation into Rambourg that same month prompting him to resign from the firm to clear his name in July 2010.
In an e-mailed statement on Tuesday, Rambourg said: “I’m pleased that the FSA investigation resulted in no formal action and that I can now put the events of the past year behind me. I look forward to embarking on the next chapter of my career in fund management and I will be considering a number of potential plans in that regard”.
The FSA has confirmed that it has dropped the case but has declined to comment further.