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Former Henderson CEO joins financial advice firm

Former Henderson CEO joins financial advice firm

Andrew Formica, who left his role as co-chief executive of Janus Henderson earlier this year, is to join the board of a new financial advice firm.

Mr Formica spent almost a decade as chief executive of Henderson Global Investors and co-chief executive of its successor business Janus Henderson before leaving the company in July 2018.

FTAdviser's sister paper the Financial Times reported that the former fund manager is to join Artorius Wealth, a financial advice start up which is targeting ultra high net worth individuals.

He is also a shareholder in the business, and is joining its newly created advisory board.  

He will be joined by James Leigh-Pemberton, deputy chairman of UK Government Investments, on the advisory board.

Artorius has offices in Manchester, London and Switzerland. The firm was set up in 2015 and manages about £800m for 100 clients, most of whom are based in the North West.

The company is still loss making, but has so far raised £17.5m from shareholders including Mr Formica.

FTAdviser has previously reported that he received £9.1m in severance pay when leaving Janus Henderson.

Adrian Lowcock, head of personal investing at Willis Owen, said at the time of Mr Formica’s exit that co chief executive arrangements were usually temporary.

david.thorpe@ft.com