Ex-Axa Framlington chief Kyprianou joins Gartmore

Former Axa Framlington CEO Robert Kyprianou has joined Gartmore as an independent non-executive director.

Kyprianou retired in September last year but said he was "looking forward" to a role on the Gartmore Board.

The appointment comes as reports suggest asset managers Neptune and Martin Currie may be interested in acquiring a near-25% holding in the business.

According to the Financial Times, US private equity group Hellman & Friedman, which owns 24.3% of Gartmore, has been sounded out by potential buyers of its stake.

Before heading up Axa Framlington, Kyprianou was formerly the global head of fixed income, and later deputy CEO, at Axa Investment Managers. Prior to that, he held senior positions at ABN AMRO Asset Management and Salomon Brothers Asset Management.

Gartmore chairman Andrew Skirton says: "We are delighted to welcome Robert to the board. His depth of investment management experience makes him a great asset."