Shares in fund management group Gartmore Group have dropped more than 5% after one of its star managers resigned to concentrate on a regulatory probe into his actions.
Guillaume Rambourg was suspended in March after the company investigated a possible breach of internal procedures, and the Financial Services Authority said last month it would look into his conduct. Rambourg said:
I have taken the very difficult and personal decision to resign from Gartmore after more than 14 years so that I can devote all of my attention to co-operating with the FSA's investigation and regain approved status.
Gartmore chief executive Jeff Meyer said the move would allow the company "to put these matters behind it."
The company's shares - badly hit at the time of the original suspension - have lost another 6.1p to 104p.
