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Gartmore offers equity deal to top staff

Gartmore has awarded 3.5 per cent of the company’s equity to leading members of its staff in a bid to lock them into the business.

The firm, which has seen the recent departures of leading fund managers Guillaume Rambourg and Gervais Williams, has had a difficult time of it since floating at the end of 2009 with the firm’s share price falling as well as Rambourg becoming the subject of an FSA probe.

According to The Telegraph, the share award has been made to a mixture of portfolio managers and senior management at the company and will mature over a number of years. At Friday’s closing price the equity was worth £13.5m.

It is understood that the board is considering extending the scheme with a second award understood to be under discussion by the company’s remuneration board.

Gartmore is also believed to be targeting a raft of leading managers to add to the group, with a least one more set to be added before the end of the year. A multi-million pound consumer advertising campaign is also understood to be in the planning stages.

Last month the company revealed that its assets under management had fallen to £20.3bn, after seeing redemptions of £1.9bn in the first seven months of 2010.

Gartmore chief executive Jeff Meyer says: “The bottom line is that we are beginning to get a sense of recovery. It’s still early stages.”


Standard Life slashing 500 jobs in shake-up

Standard Life is cutting up to 500 jobs over the next 15 months as part of the company’s ongoing restructure. Up to 600 jobs will be cut across the business while up to 100 new jobs will be created. Standard Life has 7,500 employees in the UK with 6,000 in Scotland and employs 10,000 staff […]

Jupiter promoted to FTSE 250 index

Asset manager Jupiter is being promoted to the FTSE 250 index of mid-sized equities as part of the index’s latest rebalancing. Jupiter Fund Management floated on the London Stock Exchange on June 21 at 165p a share and as at 11.09am today the shares were valued at 226p – 37 per cent higher. The price […]


Alpha 2 Omega ARs chased for fees and PI payments

Former Alpha 2 Omega ARs are being chased over regulatory and PI payments that were not made to the network which is now in administration. Law firm Callaghans is understood to be chasing advisers for various payments, including FSA fees and PI insurance payments, that it believes are outstanding. Letters have been sent to advisers […]

Hawksmoor’s ‘would I buy it today’ test

Multi-manager Hawksmoor says monthby-month performance has its place in the management of its Vanbrugh fund of funds even though more weight is placed on longer-term performance. The firm says that as Vanbrugh is not an absolute return fund that aims to outperform a cash benchmark, it does not focus too much on monthly performance figures […]

The Downsizing Delusion: Why relying exclusively on your home to fund your retirement may end in tears

By Steve Webb, director of policy The British obsession with homeownership can have dangerous consequences. A recent survey by Barings¹ found that up to three million people of working age were planning to rely wholly on the value of their home to fund their retirement. We are not talking about people investing in buy-to-let or […]


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