Long-serving Jupiter fund manager Ben Whitmore, who looks after around £10bn, is leaving the firm to start his own boutique fund management business.

Wealth manager St James’s Place has changed the manager line-up and cut fees on two of its funds, the Balanced Managed fund and the Continental European fund.

Senior portfolio managers at Swiss asset manager GAM Investments have said they support proposed takeover by British Liontrust Asset Management, which is planned to be completer later in the year.

Swiss entrepreneur Marco Garzetti has reignited the battle for struggling Swiss fund manager GAM by saying he would do “whatever it takes” to keep the Swiss fund management group independent.