Andrew Formica, managing director of Jupiter Fund Management, announced that he will soon be returning to Australia: “I just want to sit on a beach. And do nothing. I’m not thinking about anything else ”.
“I just want to sit on a beach. And do nothing. I’m not thinking about anything else.” When they asked Andrew Formica, chief executive of Jupiter Fund Management, a nearly $ 68 billion investment fund, why he had decided to quit his millionaire job, many were thinking of internal disputes within the company or other ambitious projects. But no, none of this. The 51-year-old in an interview with Bloomberg explained his decision to give up everything with the desire to radically change his life, devote himself to slower and more relaxing activities.
Father-of-four Formica’s only wish is to leave the City of London to return to the Australian beaches, close to his elderly parents after 30 years in Great Britain. The man, now filthy rich, leaves behind a successful career. Until 2018 he CEO of the Janus Henderson Group, in 2019 he organized the merger of the company with the company Jupiter of which he became CEO. The last few years, however, due to the pandemic, must not have been easy. Many investors have preferred to withdraw liquidity from the Jupiter fund and even in 2022 this push does not seem destined to stop. According to the latest report, in the first three months of the year alone, customers withdrew £ 1.6 billion.
Formica did not specify how much the pressure of recent years has affected about her decision, but the realization that she had devoted enough time of her life to work has come just now. For its part, the firm announced the replacement of Formica with chief investment officer Matthew Beesley, adding: “Andrew has always been very clear to the board that his long-term plans would involve moving to his native. Australia, with his family “.