Robert Mumby, who was announced as the new manager of Jupiter’s International Financials fund and a deputy manager of the Financial Opportunities fund, has big shoes to fill. Mumby is to replace Philip Gibbs – one the UK’s top financial stock pickers who has made his name in making profitable trades as well as bearish calls on the sector.

Gibbs, who is to now concentrate on managing Jupiter's absolute return portfolios, has built up an impressive track record in the financials world through the Financial Opportunities fund, which he launched in June 1997 upon his arrival at the firm.