All of Gartmore's managers bar four are to remain on their current funds as part of the deal with private equity firm Hellman & Friedman.
As a result of these changes, Roger Bartley, Charles Beazley, Philip Ehrmann and Jon Thornton will be leaving the company. Philip Ehrmann ran the Gartmore China Opportunities, Gartmore Pacific Opportunities and the Gartmore Emerging Market Opportunities funds.
US managers Gil Knight and Chris Baggini remain as employees of the group's former parent company Nationwide Mutual but will continue to manage the US Opportunities and US Focus portfolios under a five-year sub-advisory contract to Gartmore.
European manager Roger Guy will retain responsibility for the £1.9bn European Select Opportunities fund, as well as his hedge fund, in addition to taking a seat on the board, the only manager to have such a position. He is also understood to have invested a significant amount of his own money into the business.
Among those tied in are small-cap specialist Gervais Williams, Latin American manager Chris Palmer, Chris Burvill, who runs the group's Cautious Managed offering, bond manager Karl Berquist, Guillaume Rambourg who works on the European funds alongside Guy and the multi-manager team headed by Bambos Hambi.
Gartmore CEO Jeff Meyer and head of European distribution Paul Feeney said all senior managers, as well as those the firm considers up and coming, have bought into the deal. Managers have invested their own money into the firm, with existing equity holders rolling their stakes into new equity in the company. A portion of equity has also been allocated to managers based on leadership and growth potential. While Hellman & Friedman owns a slight majority stake in the business, the rest is spread across Gartmore employees. All equity has been issued under the same structure.
Gartmore will create one distribution division comprising its alternative, institutional and retail businesses. This division will be led by Paul Feeney, whose title will be head of distribution. Within the division, Rodney Aldridge will be promoted to head of UK retail distribution
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November