Suspended Gartmore Manager Fined By Italian Regulators

Apr 1 2010 | 10:35am ET

Guillaume Rambourg, the Gartmore hedge fund manager suspended for alleged directing trades, was fined by Italian regulators last month for market abuse.

Rambourg was among a group of fund managers implicated in a 2006 front-running scandal. He was fined €300,000 by the Italian regulator Consob.

The U.K. Financial Services Authority reportedly also investigated the alleged market abuse. It fined Roberto Casoni, the Citigroup analyst at the center of the scandal, but cleared the other three people investigated, all of whom worked for Gartmore or Schroders.

Fund managers at Schroders—as well as Oddo Asset Management and Dexia Asset Management—were among those fined by Consob.

Gartmore suspended Rambourg on Monday for allegations that he violated internal procedures. His suspension is not related to the Consob fine.


In Depth

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note