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Rating:Wanna Buy Gartmore US? Then This Sale's Not for You Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 25, 2006

Wanna Buy Gartmore US? Then This Sale's Not for You

by: Marie Glancy

It appears Nationwide is selling Gartmore, after several months of whispers. But if you're interested in U.S. rather than U.K. money management, you'll have a passing interest at most in related articles from Bloomberg and others.

That's because Gartmore parent Nationwide, headquartered out of Columbus, Ohio, is selling only the British arm of the firm Gartmore Investment Management Plc. The U.S. side -- based in West Conshohocken, Pennsylvania and headed by former Fidelity exec Paul Hondros -- Nationwide will "retain and grow," as Gartmore U.S. clearly confirmed in a statement to the MFWire in March.

Online coverage of sale talk has been generally confusing on this point, either failing to clarify that important distinction or mentioning it only cursorily. Readers are the more likely to be confused since Nationwide purchased the whole of Gartmore from Royal Bank of Scotland Group in 2000. 

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