Gartmore Suspends Top Hedge Fund Manager Rambourg

Mar 30 2010 | 9:11pm ET

Gartmore has suspended one of its top hedge fund managers pending an internal investigation.

Guillaume Rambourg is suspected of “breaches of internal procedures regarding directing trades,” or favoring some brokers over others, the firm said. Rambourg is part of Gartmore’s European investment team and a close collaborator of Roger Guy, Gartmore’s star manager. Guy and Rambourg’s team manage almost 37% of the firm’s assets.

“Gartmore has not identified any information to date which suggests that Gartmore’s clients have suffered any loss as a result of these breaches,” the firm said in a statement.

Rambourg has been with Gartmore for 14 years. He and Guy manage Gartmore’s two largest hedge funds, including its US$2.3 billion Alphagen Capella Fund. Guy will go it alone until the end of the investigation.

No other Gartmore employees—including Guy—are under investigation. The firm offered no timetable for the probe, but it is not related to the insider-trading investigation that has snared a Moore Capital Management trader.

News of Rambourg’s suspensions quickly sent Gartmore’s shares tumbling. According to Reuters, the firm has also begun receiving calls from concerned clients, and has begun reaching out to investors.

Gartmore's Roger Guy and Guillaume RambourgGartmore's Roger Guy and Guillaume Rambourg

In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR