Gartmore hands equity to top staff; Plans to hire rival team

Gartmore has awarded 3.5% of the company's equity to a group of top staff to encourage them to stay at the group.

The share award has been made to a mixture of portfolio managers and senior management at Gartmore and will mature over a number of years, the Telegraph reports. At Friday's closing price it was worth £13.5m. However, it is thought Gartmore's board is considering extending the scheme to more people within the business and a second award is understood to be under discussion by the company's remuneration committee. The asset manager also plans to hire other top performing fund managers and is seeking to sign at least one team from a rival before the end of the year. Gartmore is still...