Heathcoat Amory back at Jupiter

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The Independent Online

Jupiter Asset Management, the fund manager, said yesterday Michael Heathcoat Amory had returned to its board just five months after he and six other directors quit over the departure of then chairman John Duffield.

Jupiter Asset Management, the fund manager, said yesterday Michael Heathcoat Amory had returned to its board just five months after he and six other directors quit over the departure of then chairman John Duffield.

Mr Heathcoat Amory's return to the board of Jupiter International Group, which owns Jupiter Asset Management, comes just days before the High Court begins hearing Mr Duffield's case against Jupiter's German parent, Commerzbank. Mr Duffield is seeking damages of around £15m for unfair dismissal. The case is scheduled to begin on 20 November.

Mr Duffield left the company in May in a wrangle over a £505m payment Commerzbank made to Jupiter staff to increase its stake in the fund from to 100 from 75 per cent. Before he resigned, Mr Heathcoat Amory was joint chief executive of Jupiter, focusing on the firm's £300m private-client business and developing its socially responsible investment capabilities.

"We are delighted that Michael is rejoining the board," said Edward Bonham Carter, joint chief executive of Jupiter. "Michael's experience of building up a successful business and knowledge of Jupiter will be invaluable for us going forward."

Meanwhile, Mr Duffield is attempting to start up his own investment management company, to be named New Star.

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