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Staff cash in windfalls to quit Chase Fleming

Chase Fleming Asset Management has been hit by a wave of resignations this week as staff cashed in payouts from the Chase Manhattan takeover.

The departure of chief investment officer Tony Robinson was preceded by the resignations of two senior sales directors and two fund man- agers, with further departures expected to follow in the coming weeks.

Some IFAs say the resignations may lead them to reassess whether to invest in funds where managers have left.

Chase Fleming Investment Trusts director Andrew Watkins is moving to Jupiter, where he will become joint head of investment trusts. UK sales director Michael Ashbridge is to retire from the financial services industry.

Fund manager Tim Knowles is to become a bursar at an Oxford college while fundmanager Simon O&#39Sullivan is leaving to travel. It is not yet known if Robinson will be continuing in the industry.

Private client director Francis Clark also resigned to move to Singer & Friedlander&#39s UK private client team in October.

Chase Fleming European PR manager Alex Billson says: “It is the common nature of business that people come and go. We have a broad depth of people right across the business and look forward to working with new staff coming into the company.”

Chase de Vere investment director Graham Hooper says: “It is a huge change when the people who manage your money leave so we will have to reassess the funds where the managers have left. We have had quite a good opinion of Fleming but we will have to see what the full effects of this takeover are going to be.”

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