Yet another senior departure from Gartmore Investment Management

September 8th, 2010
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After months of upheaval surrounding the temporary suspension and subsequent resignation of one of its star traders and the resignation of its general counsel, fund manager Gartmore Investment Management recently witnessed yet another upset: the departure of one of its most established portfolio managers, Gervais Williams. The fund manager has announced that Mr. Williams, who managed smaller company funds, Irish funds and hedge funds, will leave Gartmore this month. According to the Financial Times, Gartmore’s share price has fallen by nearly half its value since December of 2009, and investors collectively withdrew £400 million, or roughly $615 million, in the first half of 2010.

Bill McGowan, Gartmore Investment Management’s general counsel, announced his anticipated resignation in February of this year. Not long after, Guillaume Rambourg was temporarily suspended earlier this year for violating internal trading rules, and later resigned following a Financial Services Authority investigation into his conduct. Now, just moments after Mr. McGowan’s departure, Gervais Williams’ exit has stirred up more turbulence and speculation.

Gartmore has appointed Adam McConkey to replace Mr. Williams, and Robert Kyprianou will also join the firm as a non-executive director.
For Detailed Investor Profiles on these Investors, click below:
Gartmore Investment Management
Related People: Ben Wallace; Dominic Rossi; Guillaume Rambourg*; Jeff Meyer; John Bennett; Luke Newman; Roger Guy
Related Entities: Gartmore AlphaGen Avior Fund; Gartmore AlphaGen Capella Fund; Gartmore AlphaGen Crucis Fund; Gartmore AlphaGen Rhocas Fund; Gartmore AlphaGen Velas Fund; Hellman & Friedman LLC
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Jobs, Hirings and Firings


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