UK equity head ousted in shake-up at Fleming
Tuesday 08 April 1997
The departure came as a surprise to staff at the merchant bank's head offices at Copthall Avenue in the City of London. Mr Seabrook had worked for FIM for 12 years, and he was responsible for managing around pounds 2.4bn in funds and a dozen staff. Prior to FIM, he had worked for Barings, the merchant bank.
Questioned about the reasons behind Mr Seabrook's departure, a spokesman for Fleming said: "He has resigned from Flemings by mutual agreement and he will now pursue his investment management career elsewhere. We wish him well."
The spokesman added that Mr Seabrook had left because he had helped FIM to achieve a certain level of success, and it was now necessary to push through certain procedural and structural changes to attain a new level.
Kenneth Ingles remains as chief executive of FIM, and is in charge of a total of pounds 24bn of funds under management.
Mr Seabrook's role will be split between John Rosier, who becomes head of UK equities at FIM, and several other unnamed business directors.
The spokesman said he did not know what Mr Seabrook would be doing next. As for any compensation for loss of office that may be paid to him or how much Mr Seabrook was paid while working for FIM, the spokesman declined to elaborate. "We never discuss that," he said.
Mr Garrett replaced John Manser as chief executive on 31 March when Mr Manser was appointed chairman of the Robert Fleming group. City sources suggested yesterday that other departures would soon follow, saying that they believed that Mr Garrett was keen to shake up staffing at the bank.
Geoffrey Macnab reviews American Hustle, also starring Christian Bale and Bradley Cooper
Dennis Rodman will coach the North Korea basketball team
Jennifer Lawrence: 'It should be illegal to call someone fat on TV'
Iain Duncan Smith leaves Commons food banks debate early
Paul Walker death caused by speed alone
DNA from a 50,000 year old toe shows Neanderthals were highly inbred
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Christmas comes early: Justin Bieber is 'retiring from music'
- 4 Iain Duncan Smith leaves Commons food banks debate early
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£500 - £650 per day: Harrington Starr: Harrington Starr is working with a Glob...
£27000 per annum: Harrington Starr: Junior Consultant (Excel, Financial Spread...
£500 - £600 per day: Harrington Starr: .NET Quantitative Developer - Contract ...
£55000 per annum: Harrington Starr: Technical Operations Analyst (UNIX, Linux,...