Swiss fund manager GAM rushes to find buyer before results

GAM is scrambling to find a buyer ahead of results it has delayed by two months, five years after a scandal over private debt holdings that led to fines, the resignation of the investment firm's chief executive and a collapse in its share price.

March 7, 2023 . 10:18 PM

1 min read

GAM is scrambling to find a buyer ahead of results it has delayed by two months, 5 years after a scandal over private debt holdings.
GAM appointed UBS bankers at the end of last year to work on securing a sale of the firm after its share price dropped by 97%.
GAM's troubles arose in July 2018 when it suspended former star fund manager Tim Haywood with little explanation.
GAM was hit with a £9.1mn fine by the UK’s Financial Conduct Authority for conflicts of interest.
GAM's share price has plunged to SFr0.60 from nearly SFr18 before the Haywood scandal.