View more on these topics

Gartmore confirms Rambourg may have violated trading rules

Gartmore chief executive officer Jeffrey Meyerhas confirmed reports that Guillaume Rambourg was suspended as he may have directedordersto buy and sell shares to favoured brokers, violating internal rules.

“One of the principles is we at all times will get best execution for our clients,” Meyer said in a telephone conversation, according to Bloomberg.

“We felt it necessary for us to launch an investigation into these matters to find out how extensive this has been,” said Meyer.

Despite seeing its share price initially drop 31 per cent  yesterday after the fund manager’s suspension, Meyer said Gartmore has not suffered any “material outflows yet”. 

He added that the group is talking to its shareholders about the probe.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm