Top fund manager quits Old Mutual


A top private client fund manager at Old Mutual's brokerage and money management unit Gerrard has quit, along with four members of his 20-strong team.

The financial services group said David Bulteel, an investment director in charge of expatriate and onshore funds, has been put on 'gardening leave' while he serves out his notice.

Old Mutual bought Gerrard in March 2000 for £525m. The unit has £21bn in client assets under management. Old Mutual's client assets under management stood at £55bn.