JP Morgan to act for Jupiter

INVESTMENT bank JP Morgan has been chosen to act for the fund management group Jupiter in its forthcoming flotation, City A.M. has been told.

Jupiter has temporarily delayed its float plans in the wake of the crisis at Gartmore where one of its star managers has been suspended.

But a flotation of the group, headed by Edward Bonham-Carter, is slated for later this year.

Other banks will be invited to assist with the flotation process and an external public relations agency is also said to be on board.