Shareholders in Gartmore have seen close to £300m (€336m) wiped off the market value of the UK-listed fund manager in the 24 hours since it announced the suspension of star manager Guillaume Rambourg.

Gartmore Group listed about 307 million shares on the London Stock Exchange in December at 220p each, giving it a market capitalisation of £675.99m. By 16:00 BST today, the stock was trading at 128p, meaning shareholders had suffered  a paper loss of 92p on every share and Gartmore's market capitalisation had fallen to £393.30m.

Gartmore shareholders nurse multi-million pound loss

Richard Inman

London Stock Exchange

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Kirkland & Ellis hires Clifford Chance London fund finance heavyweight

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US legal giant raids Magic Circle law firm in London

Monzo appoints Mombak’s Tom Oldham as group CFO 

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Monzo appoints Mombak’s Tom Oldham as group CFO

The fintech has also appointed Barclays’ Mark Newbery as its UK CFO

Fordham’s geopolitical advisory firm enlists political heavyweights, Citi FX specialist

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The advisory firm has turned to a former senior civil servant and Conservative MP to bolster its business amid heightened geopolitical tensions

The Japanese company is taking a bigger bet on the potential of artificial intelligence as the technology improves and gains momentum.

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The food-delivery group said it aims to reduce the administrative burden, complexity and costs associated with its London listing, as it joins a growing list of companies leaving the U.K. bourse.

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Kevin Hassett has been named to lead the National Economic Council, while Jamieson Greer has been selected as the U.S. trade representative.

Internal company documents describe the bank’s weak anti-money-laundering controls and failure to complete due-diligence reviews as staff expressed alarm: “We need to kill this.”

How Morgan Stanley Courted Dodgy Customers to Build a Wealth-Management Empire

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How Morgan Stanley Courted Dodgy Customers to Build a Wealth-Management Empire