Gartmore's suspended fund manager Guillaume Rambourg used the Bloomberg instant messaging system to "direct" trades for nearly a year, the Sunday Times reports.
Jeff Meyer, Gartmore's chief executive, told the paper Rambourg circumvented a company rule introduced on 15 May last year. Staff were given training sessions and asked to take a test to make sure they understood that they could no longer direct trades. "That is what has caused us the most concern about Guillaume - it is a behavioural issue. He knew what the rules were but continued as he had before," said Meyer. Rambourg, who owns 4% of the firm, did not appear to have profited from his actions. "I'll jump off this building if he was doing it for profit," Meyer added. The rule ...
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