Gartmore Group was floated on the London Stock Exchange only four months ago. Already its days as a listed company could be numbered. Shares in the asset manager have fallen 20% following the suspension of Guillaume Rambourg, a senior fund manager, pending an internal investigation into allegations he broke best-execution rules. They are down over 40% since December's IPO.

"Key man risk" is an issue for all active asset managers, and Gartmore more than most. Despite efforts to diversify, the GBP 4.3 billion ($6.5 billion) managed by Mr. Rambourg and Roger Guy accounts for some 20% of total assets and 30% of revenues.