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“I want to sit on the beach and do nothing”

He wants to return to his native Australia, live by the sea and do nothing more. Thus, the CEO of an investment fund of approximately $68 billion announced his resignation. It’s Andrew Formica, 51, who has been in the UK for nearly 30 years and has been at the helm of the Jupiter Fund for more than three years. His story immediately appeared on the Internet.

© Jupiter Asset Management

In an interview with BloombergFormica explained that his push to quit was not business problems, only personal reasons. First of all, the desire to return to his homeland, near his parents, is accompanied by a desire for early retirement. Too much pressure.

“I just want to sit on the beach and do nothing,” he said. “I don’t think of anything else.”

The director will leave his current position on October 1. In the coming months, he will be handing over with Matthew Beasley, the current chief investment officer, who will replace him. Then, it will take exactly another year, until June 30, 2023, before we can finally bid farewell to Jupiter and the world of work.

“Andrew has always been clear to the board of directors that his long-term plans will include moving to his native Australia with his family,” the company said in a statement. “With the first phase of the business transformation, he believes now is the time to let go of leadership, to enable the next phase to have consistent and strong leadership during that time.”

After resigning as CEO and Director, Formica will leave the UK with his wife and four children, but will remain working for Jupiter until next summer “to ensure a smooth transition to leadership and support a number of strategic objectives” the company adds.

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Prior to joining Jupiter in March 2019, Formica served as CEO of Henderson Global Investors and Co-CEO of Janus Henderson, following the merger with Janus Capital in 2017. During his 27 years of experience, he held various positions, including as a fund manager for equity and equity funds. Management.

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Earl Warner

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