Investment: Gartmore poised to hire for newly formed positions

January 2005

Having ousted his UK chief executive, Gartmore’s global boss Paul Hondros is poised to make a string of appointments. Gartmore’s official line on the changes is that they are aimed at “refocusing the business along global functional terms” but some industry commentators see them as a centralising initiative, which concentrates power in the hands of Mr Hondros.

Global head of institutional business Charles Beazley said that Gartmore was moving away from a “global regional model”. As a result UK CEO Glyn Jones’s “role became redundant, so he decided this was a natural break point for his career after turning Gartmore round”.

He said the idea that the firm’s US parent Nationwide was taking tighter control, was “an easy story to write, but simply not true”.

Gartmore is looking to appoint a number recruits to newly created positions, including head of European institutional business, head of UK institutional business and a handful of senior alternative investment sales posts.

Mr Jones will leave the firm in April.

RM

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