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Jupiter could float as staff get incentives

Jupiter Asset Management’s owner Commerzbank says it will decide whether to float the firm on the London Stock Exchange by the end of the year.

City estimates value Jupiter at 1bn although both sides stress no decision has been made. Jupiter recently put in place a long-term incentive scheme for key managers, echoing Gartmore’s lock-in of key staff before being bought by Hellman and Friedman last week.

A Jupiter spokeswoman says: “We would like to make it clear to our investors that our managers are locked into the business. We welcome the fact that Commerzbank is looking into this. If a float did go ahead, it would be positive and a natural progression for the group.”

A Commerzbank spokesman says: “We are investigating the possibility of an initial public offer for Jupiter and a decision will be made by year-end.”

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