Skip to main content

Andrew Formica joined Jupiter Fund Management as CEO in 2019, hoping to turn around what was then on its way to becoming two straight years of £4 billion-plus outflows. And for his troubles, he has been rewarded with two more years of large (albeit somewhat smaller) outflows (going on a third) and being called a “mistake” by a former Jupiter board member. And you know what? He doesn’t have to put up with it.

Formica, who has been in the UK for almost three decades, said in a telephone interview that his departure was down to personal reasons, including wanting to be closer to elderly parents. He plans to move back to his native Australia.

“I just want to go sit at the beach and do nothing,” he said in the interview. “I’m not thinking about anything else.”

Jupiter CEO Quits $68 Billion Firm to Sit at the Beach and ‘Do Nothing’ [Bloomberg]



Jeff Gundlach Is Buying Gold Because S**t’s About To Get Real

Everything can’t keep going up, and we can’t keep spending money we don’t have, sayeth the new Bond King.


When The S**t Hits The Fan, It’s Nice To Have An Extra $5 Billion Lying Around

And when it does, Paul Singer plans to multiply that money several times over.


Jay Powell Is Not Gonna Win This, Or Any, One

Is the Fed chair sure he doesn’t wanna just get fired and end this?