London Daily

Focus on the big picture.

Swiss asset manager GAM hires bankers to explore sale

Swiss asset manager GAM hires bankers to explore sale

Zurich-listed GAM Holding is working with investment bankers at UBS on strategic options including a sale.
The prominent investment management firm GAM Holding is intensifying discussions over a potential sale months after it was forced to issue a profit warning.

Sky News has learnt that GAM, which has assets under management of approximately CHF74.5bn (£66.38bn), is working with bankers at UBS to field interest from prospective bidders.

The process is said to be at a preliminary stage with a deal unlikely to be imminent, according to industry sources.

GAM, which was caught up in the controversy surrounding the collapse of Greensill Capital, the supply chain finance group, also explored a sale four years ago.

A number of parties are understood to have been approached already as part of the latest process.

Shares in GAM are more than 40% lower than this time last year, with the war in Ukraine having hit equity market performance in 2022.

On Friday, the company had a market capitalisation of just CHF129m (£115m).

David Jacob, GAM chairman, said alongside its most recent quarterly results: "Despite the most challenging market backdrop seen in years, it is pleasing to see the continuing strength in our investment performance and the good progress we have made to simplify our business.

"Nevertheless, we are constantly reviewing the progress of the firm, and we are committed to ensuring that our strategy is appropriate and in the interests of all our stakeholders."

A GAM spokesperson declined to comment on Friday.
Newsletter

Related Articles

London Daily
0:00
0:00
Close
Nicki Minaj's Manchester Concert Canceled After Amsterdam Arrest
UK Conservative Party Proposes Mandatory National Service at 18
Kate Middleton's Public Absence Throughout 2024
Asylum Seekers Arriving In UK by Sea Exceed 10,000 This Year
UK Criticizes ICJ Order on Israel's Rafah Assault
Ukraine's Fight Against Corruption Gains Ground Amid War
Czech President Petr Pavel Injured in Motorcycle Accident
Record Number of Abortions in England and Wales
Paul McCartney Honours Bruce Springsteen at Ivor Novello Awards
US and UK to Reject ICJ Ruling on Israel's Rafah Offensive
World Court Orders Immediate Halt to Israeli Offensive in Gaza
Understanding FLiRT COVID Variants and Their Impact
Baltic NATO Members to Construct 'Drone Wall'
Global Life Expectancy Dropped By 2 Years Due To COVID-19
Macron Halts New Caledonia Voting Reform After Riots
Rishi Sunak Shelves Rwanda and Smoking Policies Ahead of Election
US Refuses World Court Jurisdiction
China Conducts Surprise Military Drills Around Taiwan
Grim Polls Predict Major Loss for PM Rishi Sunak
Rishi Sunak's Campaign for UK Election: Key Issues Highlighted
German Property Crisis Worsens as Foreign Investment Declines
Princess of Wales's Taskforce Calls for Business Investment in Early Childhood
Campaign Groups Condemn UK Report on Protests
Former Royal Marine Charged with Espionage Found Dead
Australian PM Calls for Julian Assange's Freedom
ICC Seeks Arrest Warrants for Israeli and Hamas Leaders
UK's Infected Blood Scandal: Conclusion Nears After Seven Years
Julian Assange Granted Right to Challenge US Extradition
Congo Army Thwarts Attempted Coup Involving Americans and a British Citizen
Ireland's Homeless Gain Voting Rights
Blinken orders crackdown on Israel-Hamas leaks
Julian Assange Faces US Extradition: Key Facts
Jacob Zuma Takes Campaign to ANC Stronghold Soweto
Attempted Assassination of Slovakia PM Robert Fico: Investigation Ongoing
What Happens If an Iranian President Dies in Office?
Spain Recalls Ambassador After Argentina President's Remarks
Rishi Sunak Faces Cabinet Backlash Over Proposed Changes to Foreign Student Visas
Rwanda Denies Entry to Human Rights Researcher
Iranian President Ebrahim Raisi Reportedly Killed in Helicopter Crash
Blue Origin Resumes Space Tourism with 90-Year-Old Ed Dwight
Rishi Sunak and Wife Akshata Murty Wealthier Than King Charles
New Dutch Government Drives Wedge Through EU Liberals
Iranian President Raisi Missing After Helicopter Goes Down
Freemasons and ‘Global War Party’ Accused of Conspiring Against Georgia
Poland Supports Rolls-Royce's Nuclear Power Plant Initiative
European Ports Overflow with Unsold Electric Vehicles
Esprit Files for Bankruptcy in Europe, Putting Hundreds of Jobs at Risk
Chevron Halts North Sea Drilling Amid Rising Tax Burden
Jeremy Hunt Accused of Exaggerating Conservatives' Economic Record
Victoria Atkins Discusses Historical Gender Bias in the NHS
×