Dear client,
You may have seen our announcement this morning regarding Andrew Formica’s decision to retire from his role as CEO and as a Director of the Company with effect from [1 October 2022]. Andrew will be succeeded by Matthew Beesley, the Group’s Chief Investment Officer.
The announcement can be seen here.
I wanted to write to you personally to highlight this news and to reassure you that there will be no change to the way we work with you moving forwards.
Andrew has always been clear with the Board that his longer-term plans would involve the relocation back to his native Australia with his family. Andrew will remain with the business until 30 June 2023 to ensure a smooth leadership transition and to assist with a number of strategic objectives.
Under Andrew’s leadership, Jupiter has been reset and reshaped, with a stronger underlying business and significant progress made towards our long-term strategic objectives. He also led the firm through the global pandemic, which has undoubtedly been one of the most challenging periods in our history. Throughout this time, he ensured that the firm’s commitment to client outcomes always remained central to everything we do.
As part of the Board’s ongoing succession planning process, Matthew Beesley joined Jupiter in January 2022, as Chief Investment Officer. He has already made a significant impact on the business since his appointment and the Board have been impressed with his strategic insights, leadership skills and unwavering focus on client outcomes. Having undertaken a thorough review of potential internal and external candidates with the assistance of external advisers, the Board is pleased to select Matthew as the Group’s next CEO.
Matthew has significant industry experience. Before joining Jupiter, he was the Chief Investment Officer of Artemis Investment Management. He previously served as the Head of Investments and Head of Equities at GAM Investments and as Head of Global Equities at Henderson Global Investors. Prior to this Matthew held a number of global equity portfolio manager roles.
I would be very happy to discuss this news and answer any questions you may have in respect of these changes.
In the meantime, we look forward to continuing to work with you as a valued client/partner of Jupiter and to share in our future success.
Yours sincerely,
Warren Tonkinson
Global Head of Distribution
