Jupiter Fund Management (JUP) has announced that its finance director, Charlotte Jones, will be following chief executive Maarten Slendebroek out of the door this year. Mrs Jones will leave in August to become finance director of RSA Insurance, where she has served as a non-executive. Meanwhile Mr Slendebroek’s succession has been brought forward due to the availability of Andrew Formica, former co-chief executive of Janus Henderson.
While there appear to be good reasons for both departures, the changes at the top are happening against the backdrop of major fund outflows, long-term margin decline and increasing short interest – according to Castellian Capital’s short tracker, short interest has risen from 2.5 per cent to 8.3 per cent this year, making Jupiter London’s ninth most shorted stock.
