Details are starting to emerge about the plans Jupiter’s CEO-designate, Matthew Beesley, is looking to roll out once he steps up to the top job next week.
More information is being revealed two weeks after the Financial Times first reported that Beesley intended to restructure the company, having conducted an operational review. As many as 80 jobs are expected to be cut.
A spokesperson for the FTSE 250 company confirmed to Portfolio Adviser that Talib Sheikh, head of multi-asset strategies, and Joseph Chapman, investment manager, multi-asset, are set to leave the firm at the end of this year.
“Clients will be kept informed of our plans for the orderly transition of [Sheikh’s] portfolios,” the spokesperson added.
See Also: ‘New chapter for Jupiter’ as CEO Andrew Formica retires
Sheikh joined from JP Morgan Asset Management in 2018 after nearly 20 years at the US-headquartered firm. He currently runs three unit trusts and a trio of Sicavs at Jupiter.
Chapman will leave Jupiter after 12 years, having joined the firm from Golders Associates where he worked as an IT consultant.
See Also: Jupiter downgraded to negative by Fitch
