Jupiter Fund Management will replace CEO Andrew Formica with CIO Matthew Beesley in effect from October 2022.
Formica will leave the £55bn London-based firm after serving as CEO for three years and relocate to Australia where he will continue to operate with the firm until June 2023.
Within this role, he will be supporting the Asian business development of the company’s Australian market offering and will also remain on the Board of NZS Capital as the company’s representative.
Beesley will be appointed to the company’s board and promoted to deputy CEO with immediate effect.
Beesley has been CIO for the firm since he joined in January 2022. He previously worked in this role Artemis Investment Management, a role he held since April 2020.
Speaking on the CEO succession, Nichola Pease, chairman of Jupiter, commented: “Andrew leaves with the Board’s very best wishes and we are pleased that he will remain with the business to ensure a comprehensive transition of CEO and progress a number of important strategic initiatives.
“Since joining Jupiter, Matthew has clearly demonstrated his strong leadership skills and strategic insights. The Board is pleased to have such a strong internal successor to Andrew and is confident his energy, experience and expertise will help drive forward the Group’s strategy, for the benefit of all of our stakeholders.”
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