Edward Bonham-Carter, vice chairman of Jupiter Asset Management, says he plans for the business to remain independently owned, after rumours arose that the company was being bought.
Details emerged last week that US bank Wells Fargo was looking to buy a UK fund group to boost its presence in the country, with Jupiter Asset Management, as well as Henderson Global Investors, named as one of the firms it was looking at.
However, Bonham-Carter, speaking at the AJ Bell Investival conference, said Jupiter is independent and he plans for it to remain so. However, he declined to comment further on any takeover talks.
Instead the firm is looking to expand into the European market and focus its sales efforts in the region, says Bonham-Carter.
Bonham-Carter was previously chief executive of the asset manager, handing over the reigns to Maarten Slendebroek last year and becoming vice chairman.
Bonham-Carter led Jupiter’s management buyout from Commerzbank in 2007 and its subsequent flotation on the stockmarket in 2010.