Statutory pre-tax profit at Jupiter Asset Management slumped by 84% to £9.4m for the year ended 31 December 2023 (2022: £58m) against a tough economic backdrop.

Long-serving Jupiter fund manager Ben Whitmore, who looks after around £10bn, is leaving the firm to start his own boutique fund management business.

Wealth and investment manager Brooks Macdonald has recruited former Jupiter chief executive Maarten Slendebroek as chairman, subject to regulatory approval.

Nichola Pease has stepped down as chair of fund manager Jupiter with immediate effect.