GAM (company)
GAM Investments is an independent, pure play asset management group headquartered in Zurich.[5] The Group sells to a wide range of client segments such as institutions, wholesale intermediaries, financial advisers, and private investors.[1] The Group’s investment management business is complemented by a private labelling unit which provides outsourcing for third-party asset managers.
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Public limited company | |
Traded as | SIX: GAM |
ISIN | CH0102659627 |
Industry | Asset management |
Founded | 1983[1] | (as GAM)
Headquarters | , |
Key people | Peter Sanderson (CEO)[2] |
Products | Investments |
AUM | CHF 119.4 billion [3] |
Number of employees | Around 817[4] (2019) |
Website | www |
Headquartered in Zurich, GAM has been independently listed on the SIX Swiss Exchange since October 2009, following the separation of the former Julius Baer Group Julius Baer,[6] and is a component of the Swiss Performance Index (SPI) with the symbol “GAM”. The Group has assets under management of CHF 119.4 billion [7] and employs around 850 staff with offices in 14 countries.
History
GAM was founded as "Global Asset Management" in 1983 by Gilbert de Botton,[8] a pioneer of the "open architecture" asset management model.[9] In 1999, it was acquired by UBS. It remained under the UBS umbrella until Julius Baer acquired GAM and three other private banks from UBS in 2005.[10] GAM acquired Augustus Asset Managers in 2009, and later in the year separated from Julius Baer to form an independent, pure-play asset manager. The spinoff was completed by listing GAM as a separate company in the Swiss SIX exchange.[11]
GAM has since then has acquired several asset managers: Arkos Capital in 2012 and Singleterry Mansley Asset Management in 2014.[10] In September 2014 it appointed Alexander Friedman, the CIO of UBS Wealth Management, as the new Group CEO.[12] Later, in 2015, GAM announced the acquisition of the real estate division of Renshaw Bay.[13] In May 2016, GAM entered into an agreement to acquire the investment management business of Taube Hodson Stonex, a London-based global equity investment firm: the acquisition is expected to close in the third quarter 2016, subject to customary regulatory approvals.[14] In June 2016, GAM entered into an agreement to acquire Cantab Capital Partners, an industry-leading multi strategy systematic manager based in Cambridge, UK. This acquisition was closed on 3 October 2016 following regulatory approval.[15] In September 2019 it appointed Peter Sanderson as Group CEO who joined from BlackRock.[2]
In May 2019 it was announced that Soros Fund Management has built up a 3% stake in the company. [16]
December 2019, GAM was accused of accounting ‘misstatement’ by the Swiss bourse.[17][18]
References
- About GAM
- "Leadership change at GAM holding AG". Retrieved 1 September 2019.
- "Press Release 04 August 2020".
- "2018 full-year results report". Retrieved 20 February 2020.
- Angaben der GAM Holding AG auf der Website der SIX Swiss Exchange
- Julius Bär, Medienmitteilung, 20 May 2009.
- "Press Release 20 February 2020".
- "Gilbert de Botton, founder and U.K. chairman of Global Asset Management". Pensions & Investments. 29 August 2000. Retrieved 24 May 2019.
- "GAM and LSE announce award in honour of Gilbert de Botton". Archived from the original on 2013-04-22.
- "Our History". GAM. Retrieved 24 May 2019.
- "UPDATE 3-Julius Baer splits operations, unlocks value". Retrieved 13 August 2015.
- "Former UBS CIO Alex Friedman Named CEO at GAM Holding". Retrieved 13 August 2015.
- "GAM acquires real estate finance business of Renshaw Bay". Retrieved 13 August 2015.
- "GAM to purchase £1.8bn equity house THS". Retrieved 19 May 2016.
- "Acquisition of Cantab completed, new quantitative strategies launching under GAM Systematic name" (PDF). Retrieved 4 October 2016.
- "Soros fund builds 3% stake in Swiss asset manager GAM".
- "GAM accused of accounting misstatements".
- "GAM accused of accounting misstatements by Swiss bourse".