People walk along the beach the morning of May 29, 2021 in Myrtle Beach, South Carolina.Jupiter Fund Management CEO Andrew Formica is leaving the $68 billion firm to hang at the beach and"do nothing."
"I just want to go sit at the beach and do nothing. I'm not thinking about anything else," Formica told Bloomberg. So it's rare to see a relatively young, successful investment manager retire early to hit the beach, but that's just what Andrew Formica of Jupiter Fund Management is doing. "I just want to go sit at the beach and do nothing. I'm not thinking about anything else," Formica toldthis week. Formica has lived in the UK for three decades and said personal reasons were the main driver behind his exit, including wanting to be closer to his parents.