• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Equities

Jupiter hires Formica as CEO as Slendebroek steps down

Jupiter hires Formica as CEO as Slendebroek steps down
  • Pedro Gonçalves
  • 22 January 2019
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Andrew Formica is to take over as chief executive of Jupiter Fund Management, replacing Maarten Slendebroek from March 1, the company has announced. 

In a stock exchange announcement revealing the succession plans, the group said Slendebroek has agreed to remain in the business until 1 May 2019 to ensure a smooth leadership transition and handover.

Related articles

  • Jupiter hires Formica as CEO as Slendebroek steps down
  • Janus Henderson appoints Dick Weil sole CEO
  • Jupiter hires Slendebroek from BlackRock to spearhead group's strategy
  • Janus Henderson Investors adds to global team as merger completes

He joined Jupiter in 2012 as head of distribution and strategy before becoming CEO in 2014.

Andrew Formica , former head of Henderson, departed the merged Janus Henderson group last summer as the business put former Janus boss Dick Weil in sole charge.

In a statement, Jupiter noted that it had expected to handover management "over the next couple of years" but that the current availability of Formica caused it "to accelerate these plans".

Formica said: "Jupiter is a tremendous firm and I have been very impressed by its talented people and distinct investment culture. I am excited by the firm's successful diversification strategy and look forward to helping it develop its increasingly global franchise.

"Jupiter's relentless focus on delivering value to clients through genuinely active investing means it is well positioned to succeed in an evolving industry."

The appointment follows a decision by the group in December to dismiss joint chief operating officer Lance DeLuca as it grapples with rising costs and outflows. Shares have tumbled more than 50% in the past year.

Slendebroek commented: "It has been a privilege to lead Jupiter over the last five years and the company has gone from strength to strength as we have delivered against our strategic ambitions. I am particularly pleased that we continued to deliver for our clients, even in more recent times of market volatility, where we maintained strong investment performance after all fees.

"Much has been achieved and so this is the right time for me to hand over. The business is in excellent health and I wish my colleagues every success for the future and look forward to working with Andrew on the transition of responsibilities."

Slendebroek received a £1m bonus from Jupiter for hitting financial and strategic objectives in 2018. His salary rose 70% last year to £425,000, with up to 800% more of incentives. The package was opposed by influential proxy adviser Institutional Shareholder Services, but was passed at the company's AGM.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Equities
  • Fixed Income
  • Multi-asset
  • Andrew Formica
  • Jupiter Fund Management
  • Maarten Slendebroek
  • Jupiter
  • Janus Henderson
  • Dick Weil
  • Formica
  • UK
  • People moves

More on Equities

Comment: Can equities tolerate higher bond yields?

  • Comment
  • 26 February 2021
Comment: Navigating equity markets in the year ahead

  • Comment
  • 21 January 2021
M&G taps Value Partners for £500m Chinese equities mandate

  • Equities
  • 16 December 2020
II Middle East Forum: Industry calls for regulator rethink

  • Events
  • 17 November 2020
Capital Group launches multi-asset funds range

  • Multi-asset
  • 28 October 2020
Back to Top

Most read

EU removes Barbados from blacklist of 'non-cooperative' jurisdictions
EU removes Barbados from blacklist of 'non-cooperative' jurisdictions
Global UHNWI population to grow by 27% over the next five years: Knight Frank
Global UHNWI population to grow by 27% over the next five years: Knight Frank
Amati Global Investors launches strategic metals fund
Amati Global Investors launches strategic metals fund
Aviva announces exit from Turkey
Aviva announces exit from Turkey
Aviva approves sale of its French business for €3.2bn
Aviva approves sale of its French business for €3.2bn
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading