Gartmore sold in private equity deal

Although the official statement just issued says "the terms of the transaction were not disclosed", it is thought the senior management will stay at Gartmore as part of the deal, including Paul Feeney, head of European retail and European fund manager Roger Guy. The Nationwide Mutual statement does also suggest Gartmore IM may maintain its branding, although further clarification is needed, as the firm says "Nationwide will be re-branding its US Gartmore-branded funds" which it retains as part of the US operation Gartmore Global Investments inc. The deal is expected to be completed by the...