WSJ – Gartmore Group said U.K. regulators are investigating Guillaume Rambourg, a star manager the firm suspended and then reinstated earlier this year after he broke internal trading rules.
The announcement sent the London-based asset manager’s shares sharply lower Tuesday, adding to pressure on the company. Gartmore already has seen its stock price fall significantly and fund investors pull at least £1.2 billion ($1.74 billion) following the initial suspension. The situation underscores the risk that asset-management firms like Gartmore face when they depend heavily on a few key traders.
