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Star fund manager quits for Australia

Gartmore star fund manager Tim Gregory is to leave the fund management industry later this year and emigrate to Australia.

Gregory, who is head of UK large-cap retail funds, will continue in an advisory role at Gartmore until the end of the year but will pass most of his management responsibilities to other members of the UK team.

Eric Moore will take charge of Gregory&#39s UK growth fund while Brian Gallagher will assume responsibility for the UK growth & income fund.

Gregory will continue to manage the Gartmore SNT and Second Scottish investment trusts until the board has approved a change of manager.

Gartmore has also appointed Vivien Gould as head of UK retail products. She takes over from Michael Wrobel.

Gould has over 20 years experience in the industry and is a director of three investment trusts, including Gartmore&#39s absolute growth investment trust.

Chief investment officer Peter Chambers says: “Gartmore is disappointed to be losing someone of Tim&#39s experience and capability. However, we are confident that the calibre and experience of the members of the UK equities team will ensure we continue to build on the concrete platform which Tim has helped to structure in our business.”


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David Barnett of DPB Independent Financial Services asks: “Why are companies prepared to write unprofitable business, that is, stakeholder pensions, which, on their own admission, will not become profitable for at least 10 years? Is this not contrary to their obligation to shareholders and with-profits policyholders?” NB: Good point. It is slightly odd that providers […]

Exeter Investment Group – International Growth Portfolio

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BROKER &#39Talkback&#39

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mPower Europe hires ex-Goldman Sachs UK boss

mPower Europe, the parent company of online IFA, has hired former head of fund manager Goldman Sachs Asset Management&#39s UK business Charlie Metcalfe as its new managing director. Prior to being with Goldman Sachs, Metcalfe was with Merrill Lynch&#39s fund management arm managing director and also with JP Morgan. mPower founder and chief executive […]


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