So Roger Guy is ‘retiring' from day-to-day fund management and CIO Dominic Rossi is off, barely five minutes after it seems he started.
Does this mark the end of the Gartmore name or the beginning of yet another chapter in asset management's equivalent of a soap opera?
Vultures will no doubt be circling over the business, as they have been both prior and before the IPO.
One of the main reasons the business hasn't been taken out has been Guy - he's been a strength and a weakness of the company.
A strength because his European equity mandates have been major revenue contributors to the company for over a decade. A weakness because any time someone has looked to buy the business they have had to negotiate with Guy's representatives as well as representatives for the rest of the business.
Gartmore moved sensibly to bring in John Bennett to diversify attention away from Guy and it is Bennett who is taken over Guy's day-to-day role.
Bennett is a good solid safe pair of hands, but he doesn't quite have Guy's ‘star fund manager tag' so the obvious reaction will be negative on the Gartmore share price.
As a big holder of Gartmore stock and options Guy will be a loser, but he has taken out enough from the business not to be too bothered by this latest drop in the company's worth.
With Guy stepping back Gartmore has accelerated the moves to lose the unfair tag of Guy Asset Management, and this might encourage predators to make a bid.
There's no doubt the episode Guillaume Rambourg being suspended for compliance irregularities before eventually leaving the business didn't sit comfortably with Guy.
The pair had worked closely together for a long time and were a good team, and Guy found it hard to keep on message with one conference call to investors in the immediate aftermath of Rambourg's original suspension.
Maybe the warning signs were there then that he might step back from day-to-day fund management.
More of a surprise is the departure of Dominic Rossi who has only been with the company for a couple of years and had made a good impression.
Combined they haven't helped the company's image once again.
Those with long memories know Gartmore has been bought and sold more times than many can remember, and once things for sure today's announcements won't be last bit of news surrounding the group.
But let's not forget the poor investors in all this.
Lawrence Gosling is editor of Investment Week and editorial director of Incisive Media's financial services division
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