Beesley will take up the role of CEO at a turbulent time for Jupiter, which struggled with severe outflows of £1.6bn in the first quarter of the year.
Market commentators have said the outflows make it vulnerable to a takeover, despite Formica saying earlier this year that Jupiter does not see itself being part of the current wave of consolidation in the sector.
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The outflows are focussed mainly in the group’s European and UK equity funds, but also in the Merian funds.
A few weeks prior to Formica's announcement, former board member Jon Little criticised the fund house, saying it has "lost its way" and needs to change its management and strategy.
sally.hickey@ft.com
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