Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Philip Gibbs launches attack on the Jupiter board at group's AGM

Philip Gibbs launches attack on the Jupiter board at group's AGM

Philip Gibbs launched a stinging attack on the Jupiter board at the asset manager’s annual general meeting yesterday.

According to a report in the FT, the group’s former star manager, who retired last year, accused the board of treating him unfairly when his Jupiter Absolute Return fund underperformed in 2011 and 2012.

He claimed chief investment officer John Chatfeild-Roberts told him that he was ‘lucky to have a job at Jupiter’ and the way he was treated by management left him ‘shocked’ and ‘depressed’.

Gibbs (pictured), who delivered standout performance on the Jupiter Financial Opportunities fund during his tenure, said he wanted to use the AGM to bring to light the ‘failure of the board to apologise for the way I was treated’, adding that towards the end of his time at the company, he struggled to ‘bring myself into Jupiter’s offices’.

The remarkable public outburst shook up an otherwise uneventful AGM, which saw all resolutions passed with more than 96% support.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter