Wednesday 12 August 2020
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todayonline - 1 month ago

GAM sales chief Rainsford exits in management revamp

ZURICH - GAM Investments head of sales and distribution, Tim Rainsford, is leaving the Swiss asset management group amid a management revamp, GAM said on Monday. Former BlackRock executive Jeremy Roberts will become global head of distribution, reporting to Chief Executive Peter Sanderson, as of Sept. 1. Roberts was co-head of EMEA retail sales and head of the UK retail business at BlackRock. GAM will also create a new role of global head of institutional solutions. Rainsford, who was appointed group head of sales and distribution and became a member of GAM Holding s management board in 2017, is leaving GAM to take up a new opportunity , it said without elaborating. GAM Holding lt;GAMH.S gt; said last month it expects to report an IFRS net loss for the first half of 2020 of about 400 million Swiss francs ($425 million) as it writes down the value of decades-old goodwill. REUTERS

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