Jupiter Asset Management is reviewing its &£3m advertising account out of AMD Girardot, a London-based ad agency which has held the business since Jupiter was set up in 1985.
The move follows a marketing rejig in July, which saw six of its marketing team made redundant, including marketing and communications director Amy Rennison. Following the restructure, joint managing director Gordon Davidson assumed responsibility for marketing and advertising.
Jupiter’s high-profile advertising during the Nineties – featuring rocketing graphs of the stock market and images of planets – was synonymous with the bull market. The Financial Services Authority earlier this year introduced rules to clamp down on the use of past performance in advertising, while Jupiter has moved away from showing the planets to using other circular objects, such as CD-ROMs, in its advertising.
Jupiter manages about &£11bn for both private and institutional investors, and is one of the biggest brands for personal investment products, such as ISAs and unit trusts.
Jupiter is owned by Commerzbank, which attempted to sell the company last year, but was unable to find a buyer willing to pay close to the &£650m it paid for it in 1995.