Janus Henderson has announced Andrew Formica will receive $12m severance pay as the group decides to ditch the co-chief executive leadership structure a year after the UK and US asset managers merged.
St. James’s Place has dropped Aberdeen Standard Investments (ASI) and appointed Impax Asset Management to run its £286m ethical fund after a sustained period of underperformance.
Integrafin chairman Patrick Snowball has stepped down from the Transact parent to join Provident Financial.
Several whistleblowers have reported Legal & General Investment Management to the Financial Conduct Authority (FCA), accusing the fund group of fostering a “toxic” risk culture that has potentially resulted in clients losing millions of pounds.
Somerset Capital Management, the emerging markets boutique manager co-founded by Conservative MP Jacob Rees-Mogg, has paid out £25.3m to members in its partnership.
Jupiter has continued to suffer outflows in the second quarter as investors remain standoffish from its multi-billion pound Dynamic Bond fund.
Rathbones has argued shareholders will welcome its expansion of a staff equity plan and denied it had been introduced in response to staff exits.
Schroders’ asset management arm delivered zero net new business over the first half of the year against what the firm said was a challenging time for markets.
Brooks Macdonald managed to grow assets in the past quarter, recovering from a sizeable hit to performance at the start of the year.
Alliance Trust has announced it is in talks over the sale of its platform, while Nucleus has listed on the alternative investment market (Aim) with a market cap of £139.9m.
Rathbones results for H1 have revealed the investment manager has finally found a tenant for its former Mayfair offices, which have sat empty for more than a year due to softening demand for central London property after Brexit.
Brewin Dolphin assets under management (AUM) were up 6.5% for the quarter.
