Another Manager Quits Gartmore

Jan 11 2011 | 6:00am ET

Gartmore Group, the troubled hedge fund and asset management firm, has lost yet another top fund manager.

Andrew Russell has left the London-based firm, the fourth top money manager to leave the firm since the summer. He served as co-head of structured portfolio management and was manager or co-manager of Gartmore’s Long-Term Balanced and Global Bond and Euro Money funds.

Russell had spent nine years at the firm.

The Long-Term Balanced fund will now be run by Russell’s co-manager, William Edgar. John Anderson will take the helm of the Global Bond and Euro fund.

Russell’s exit follows that of fund managers Guillaume Rambourg, Gervais Williams and, most significantly, star manager Roger Guy. Gartmore has also bid farewell to chief investment officer Dominic Rossi and Darrell O’Dea, who joined the firm in April to replace the then-suspended Rambourg. Last month, Gartmore laid off 35 employees.

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