Gartmore's birthday celebrations look more like a day of remembrance. Last December, the UK asset manager was listed on the London Stock Exchange at 220p ($3.52). Almost a year on, its shares fell to just 107 pence on news that star fund manager Roger Guy and chief investment officer Dominic Rossi are to quit, and the group has hired Goldman Sachs to find a buyer. A sale can't come soon enough to stop what value remains literally walking out the door.

Investors knew when they bought the stock that Gartmore was exposed to key-man risk. Assets managed by Guy and his team account for around 17% of Gartmore's total, and just under half its performance fees. But no one could have foreseen how quickly the situation would unravel. Gartmore has already seen outflows this year following the suspension and resignation of Guy's co-manager Guillaume Rambourg.