Andrew Formica Net Worth – How Much Is He Worth?

Andrew Formica is a British Australian business executive serving as CEO of Jupiter Fund Management in the UK. This firm manages equity and bond investments for both institutional and individual investors. Formica joined this company in 2019, after serving as co-CEO at Henderson Group Plc before it merged with Janus Capital; his time spent as top executive at both Henderson and Jupiter has helped amass significant wealth for him.

As of 2022, Formica estimated his net worth at $25 Million and earned a salary of GBX1,322,000 from Jupiter Fund Management PLc as Chief Executive Officer and Director; additionally he has numerous streams of income.

Going from starting your own business to becoming a billionaire and then retiring on the beach seems like the ultimate life goal, something many of us share but only some can realize. That’s why we are so envious of andrew formica, who has done exactly that – as CEO of Jupiter Fund Management Company since 1997 and recently announced his intention to retire from there.

Reports indicate that Andrew Formica hails from Australia. He earned both his Master of Economics from Macquarie University and MBA from London Business School respectively, before going into financial industry employment over 25 years ago, where he held several senior roles.

Formica currently oversees an asset pool worth more than $67 billion and was instrumental in overseeing the merger between Henderson and Janus Capital. When making his retirement announcement, Formica stated he wanted to spend more time with his family back home in Australia.

Formica will be replaced as Group Chief Investment Officer by current Group CIO Matthew Beesley effective October 1, 2023; during this transition he will continue as director.

Though it may be surprising, there could be various reasons for a CEO to suddenly quit their position. First and foremost would be better opportunities at another company; more often it is for personal reasons or retirement; Andrew Formica of Jupiter Fund Management decided to leave in order to spend more time with his family; it will be interesting to see his next steps after having left Beesley, an experienced leader who built up the company from its infancy; however he will surely be missed by his employees and shareholders alike.