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Gartmore shares slump on news of Guillaume Rambourg resignation

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  • Gartmore shares slump on news of Guillaume Rambourg resignation

UK - Guillaume Rambourg, European equity manager at alternative asset management company Gartmore, has resigned amid an ongoing Financial Services Authority (FSA) investigation.

Rambourg has been working as a senior investment analyst following a company investigation in March, which cleared him of directing trades.

Gartmore chief executive Jeff Meyer said Rambourg had concluded that, given the current circumstances, he was "unable to fully contribute to the performance of the business".

Meyer said: "He has, therefore, decided to resign to devote his attention to concluding the FSA investigation into his conduct and to allow Gartmore to put these matters behind it."

The company's shares dropped 8% to 101p in early trading on Thursday.

Roger Guy, who has worked closely with Rambourg during his time at Gartmore, will continue to lead the European large-cap team.

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