View the article online at http://citywire.co.uk/wealth-manager/article/a752715
Philip Gibbs launches attack on the Jupiter board at group's AGM
by James Phillipps on May 22, 2014 at 11:32
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.
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