Andrew Formica to retire from his role as CEO of Jupiter AM

Jupiter AM has announced that Andrew Formica will be retiring from his role as Chief Executive Officer and as a Director of the Company with effect from 1 October 2022. He will be succeeded by Matthew Beesley, the Group's Chief Investment Officer, who will take up the role of CEO with effect from that time, subject to customary regulatory approvals.

He will be appointed to the Board of the Company and promoted to Deputy CEO with immediate effect. Matthew will retain his global Chief Investment Officer responsibilities during the transition.

Andrew has always been clear with the Board that his longer-term plans would involve the relocation back to his native Australia with his family. With the initial phase of Jupiter's business transformation completed he feels now is the right time to hand over the leadership of the business, to enable the next phase to have consistent and strong leadership throughout that period. Following his stepping down as CEO and as a Director of the Company, Andrew will relocate back to Australia but will remain in the business until 30 June 2023 to ensure a smooth leadership transition and to assist with a number of strategic objectives, including supporting the Asian business and development of our Australian market offering. In addition, whilst he remains employed with the Group, Andrew will remain on the Board of NZS Capital as the Company's representative.

As part of the Board's ongoing succession planning process, Matthew Beesley joined Jupiter in January 2022, as Chief Investment Officer. He has made a significant impact across the business since his appointment and the Board have been impressed with his strategic insights, leadership skills and unwavering focus on client outcomes. Having undertaken a thorough review of potential internal and external candidates with the assistance of external advisers, the Board is pleased to select Matthew as the Group's next CEO to lead the business in its next phase of development.

Before joining Jupiter, Matthew was the Chief Investment Officer of Artemis Investment Management. He previously served as the Head of Investments and Head of Equities at GAM Investments and as Head of Global Equities at Henderson Global Investors. Prior to this, Matthew held a number of global equity portfolio manager roles.