Gartmore Fund Manager Guy says he's Staying Put

Date: Monday, April 5, 2010
Author: Reuters

Gartmore's star fund manager Roger Guy has told investors he is staying put at the U.K. fund firm despite misgivings about the handling of the suspension of his friend and colleague Guillaume Rambourg Previous Reuters Story.

The comments, from a call with investors on Thursday [April 1] and published by Gartmore, come after Mr. Guy on Wednesday [March 31] had criticized the firm for new compliance measures which had led to Mr. Rambourg's suspension.

"I'm totally committed to the firm, I always have been totally committed to the firm," Mr. Guy said on Thursday. "I am a very significant shareholder at Gartmore, I have a substantial amount of my own money invested in the funds that Guillaume and I run and very importantly I have no intention of going anywhere else."

Shares in Gartmore rallied for a second day after shedding more than 30% on Tuesday [March 30] as the suspension of Mr. Rambourg was revealed. By 1209 GMT, the stock was up 12.4% at 140.5 pence ($2.14), still shy of levels before the announcement.