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Nationwide Mutual prepares Gartmore US exit

Nationwide Mutual Insurance Company, parent of Gartmore Global Investments, is reviewing its US retail and institutional asset management businesses, six months after it sold its UK operations to Hellman & Friedman.

Nationwide Financial Services, which is the listed life and pensions subsidiary of Nationwide Mutual, has expressed an interest in acquiring Gartmore's $25bn in US mutual funds. Credit Suisse is advising Nationwide Financial Services.

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