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...Jupiter’s chief executive officer Matthew Beesley, who joined the firm in January 2022, has embarked on a cost-cutting programme and revamp of the group’s funds as well as an expansion in overseas markets...
...Jupiter’s chief executive Matthew Beesley is restructuring the group to try and revive growth, and in December, Abrdn slashed employee benefits in its latest round of cost cuts as it battles to contain expenses...
...“Richard is one of the most respected investors of his generation and it has been a pleasure working with him since I joined Jupiter,” said Beesley....
...Jupiter Asset Management has merged or closed smaller funds and cut jobs, under chief executive Matthew Beesley....
...“Alex’s recruitment means that we have an excellent succession plan in place for the UK Special Situations strategy and our clients,” Beesley said in a statement....
...Beesley puts a brave face on the retail outflows, citing clients cutting risks by shifting out of equities....
...Beesley acknowledged Jupiter had become an acquisition target....
...Beesley said a lack of growth capital in the UK was not the only issue. “The bigger issue is the lack of stability in the UK over the last 10 years....
...Beesley cautioned that there was “market uncertainty ahead” that tended to dent retail investors’ confidence in particular....
...Under Beesley, Jupiter has merged or closed a number of smaller funds and has cut headcount to help reduce costs. Another analyst said: “There’s a changing of the guard....
...Beesley had the good fortune to take charge at the beginning of October, just as world stock markets rebounded and bond prices settled....
...Beesley joined Jupiter at the start of the year from Artemis, where he was chief investment officer....
...Beesley said that after Jupiter acquired smaller rival Merian in 2020, rationalisation was needed to remove “subscale offerings”....
...Beesley said: “While we do still retain very small stakes in a minimal number of other unlisted assets, we will prudently manage these exposures over time with a view to generating maximum value for our...
...Since his appointment, Beesley set out plans to costs and to rationalise underperforming funds....
...Bonham Carter’s departure follows the October appointment of Matthew Beesley as chief executive....
...Prior to joining Jupiter, Beesley held the role of chief investment officer at Artemis....
...Matthew Beesley, chief executive of Jupiter Asset Management, agreed with the direction of travel but sounded a note of caution....
...Chief executive Matthew Beesley also brought in a rule stopping open-ended funds from making investments in unquoted stocks. Woodford made his name at Invesco....
...Since his appointment, Beesley has said he will set out plans to cut costs and to rationalise underperforming funds in a bid to stem outflows....
...“Regulation is becoming much more complicated,” said Matthew Beesley, chief executive of Jupiter. “Regulatory pressures have increased in every region....
...Before joining Jupiter, Beesley held the role of chief investment officer at Artemis....
...The fund group announced 80 potential job cuts on Thursday as part of a wider restructuring in an internal memo sent by Beesley....
...At Jupiter, new chief executive Matthew Beesley reset the capital return policy. A new buyback sent shares up 6 per cent....
...Perhaps that is because successor Matthew Beesley is an internal promotion rather than a new broom. Beesley says he has no plans to change the strategy....
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