Guillaume Rambourg is to return to Gartmore as an investment analyst as the firm names a new co-manager alongside Roger Guy.
While Rambourg was found to have breached internal company controls, the firm says the investigation found no suggestion of dishonesty or a lack of integrity in his actions and found no evidence clients suffered losses from the breaches.
The breaches represented 5% of all trades raised by Rambourg over the last 12 months and 1% over the last six months.
Findings from Gartmore's internal investigation, which included an independent report by Clifford Chance, have been forwarded to the Financial Services Authority for review. They will now consider the findings and carry out their own investigation.
Rambourg will be restored as fund manager once Gartmore completes its application to the FSA.
Meanwhile, former Threadneedle manager Darrell O'Dea will join Guy as co-manager across all the funds run by Gartmore's European large cap team, including three hedge funds, three Ucits III funds and several institutional long only mandates.
At Threadneedle O'Dea was lead manager of the European Select fund and Crescendo European hedge fund.
"I am delighted Guillaume is back and that Darrell has decided to join us on the team," Guy says.
"We had been thinking of strengthening the team for some time and we have known Darrell for many years.
"As head of the European large cap team I would like to assure all of our clients we take our regulatory responsibilities extremely seriously. The highest standards of compliance are uppermost in our minds."
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