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Lanning taking over from Hambi at Gartmore

Gartmore head of multi-manager Bambos Hambi has been replaced by his deputy Tony Lanning in a restructure.

The company says that the restructure follows a review of its five multi-manager funds which could see mergers.

Lanning joined last November from private bank Arbuthnot Latham & Co where he was head of collectives research. He previously spent six years as research and investment director at Origen. Hambi ran the multi-manager business for five years.

Chelsea Financial Services Darius McDermott says: “This is a bit of a surprise, consider- ing that Bambos is one of the most well known and exper- ienced multi-managers around. Performance has been slightly less than average and I guess Gartmore is looking for super-ior performance, not average performance. The firm is probably looking to take some costs off the table and Tony is also extremely highly regarded.”

Gartmore is also revamping its investment trust business to focus on investor relations. Head of investment trusts Jim Tennant has been replaced by head of investor relations Melissa Jones.

Global head of distribution Phil Wagstaff says: “2007 was an excellent year for Gartmore and we are committed to delivering the highest levels of service and performance to all our clients. A key part of this is ensuring that our multi-manager product range and our investment trust business meet the current needs of our client base. These changes will enable us to maintain our focus on and commitment to these important product areas.”

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