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Pursglove quits Cazenove for Gartmore

Gartmore has poached Cazenove Capital Management’s sales director Richard Pursglove to head up its UK retail business.

Gartmore said the appointment followed a review process that identified the need to restructure Gartmore’s UK Retail business, which it described as a key strategic area.

The group said it has ambitious business growth plans, which will focus on the ‘rapidly’ changing funds industry.

Pursglove will take up the newly created role at the end of March. He will report to Gartmore head of global distribution Phil Wagstaff.

Wagstaff described the appointment as a key one in the groups bid to have a more focused and robust business platform, while achieving its goal of being the 'most trusted investment manager'.

He said: ‘We are delighted that Richard has agreed to head our UK retail team with the key responsibility to lead our ambitious growth plans in the UK retail market.

'We believe that his proven skills and experience will help us achieve our long term goals, strengthening Gartmore’s position with intermediaries, our distribution partners and their clients.'

Robin Minter-Kemp, managing director, Cazenove Capital said: 'Richard has been instrumental in building our UK retail business from infancy to the current breadth of product. His energy and commitment will bode well for this new opportunity. We wish him all the best.'

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