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Myners quits after taking Gartmore into top league

The man who paved the way for the Sandler review, Paul Myners, has stepped down from his role as Gartmore chairman after 16 years at the company.

During an illustrious career at Gartmore, Myners saw the firm rise to become one of the UK&#39s top fund management businesses, with assets growing from £1.8bn in 1985 to £44bn today.

The pinnacle of his Gartmore career came last year when he oversaw the £1bn sale of the firm by parent NatWest to US life insurer Nationwide.

Myners is now best known for his report on the institutional investment market carried out for the Treasury and published last spring. The review saw the scrapping of the minimum funding requirement on pensions and concluded by recommending a full-scale review of retail financial services, which is being undertaken by Ron Sandler.

Myners is now tipped for a high-profile Government job, although he says he is principally looking to take on a number of non-executive directorships.

Myners says: “I have spent 16 enjoyable years at Gartmore during which time it really has come of age as a business. It is in good shape with a clear strategy and strong leadership. I have made no decisions yet, but I intend to remain active and have some interesting offers to consider.”

Hargreaves Lansdown chief executive Peter Hargreaves says: “He did a fantastic job at Gartmore, he changed it. He has seen it through many phases of its life.”

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