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Fund manager quits job following divorce

Fund manager quits job following divorce

A high-profile City fund manager has resigned from his position New Star Asset Management, following a well-publicised £5 million divorce settlement.

Alan Miller, who was chief investment officer at New Star, officially left the company yesterday, following a sabbatical taken last year.

That followed a high profile divorce case, in which he was required to pay his former wife £5 million, after a marriage that lasted just three years.

The case hit the headlines when Mr Miller took the case to the House of Lords - an appeal which he later lost.

The settlement included a £2.5 million property and the rest as a lump sum - enough to provide Mr Miller's ex-wife with a £98,000-a-year income for life.

In a statement, New Star said that Mr Miller had left by mutual agreement in order to pursue other interests.

New Star's founder John Duffield wished him well in his departure.

"Alan joined New Star as a friend, and he leaves as a friend. We wish him good fortune in his future career," he said.