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GAM Holding appoints Peter Sanderson as Group CEO

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GAM Holding has appointed Peter Sanderson as Group CEO effective 1 September 2019, subject to customary regulatory approvals. 

Sanderson brings many years of experience in the asset management industry, most recently with BlackRock where, over more than a decade, he served as Head of Financial Services Consulting, EMEA, Co-Head of Multi-Asset Investment Solutions in EMEA, and COO for BlackRock Solutions in EMEA. In these various roles, he has run and scaled large businesses, managed restructurings and delivered successful solutions for clients. At GAM, he will be focused on further simplifying the business and concentrating on areas of recognised expertise where GAM has competitive edge in order to put the business back on a growth trajectory.

Hugh Scott-Barrett will step down from his current role as Chairman of the Board of Directors effective 1 October 2019 and will remain a member of the Board of Directors until GAM’s next AGM in 2020. Scott-Barrett has been a member of the Board of Directors of GAM Holding AG since its independence in 2009, and in 2017, he was elected Chairman.

David Jacob, a member of GAM’s Board of Directors since 2017, and acting as interim Group CEO since November 2018, will step down from the latter role on 1 September 2019. Effective 1 October 2019, he has been appointed Chairman of the Board of Directors and will stand for confirmation in this role by shareholders at GAM’s next AGM in 2020.

Scott-Barrett, Chairman of the Board of Directors, says: “Today’s announced leadership changes follow the successful completion of the ARBF liquidation and fully allow us to turn our attention to the future, while providing a seamless transition over the next couple of months. This is the right time for me to step down as Chairman, in line with the Board’s longer-term succession plan, and it is with great confidence that I will hand over my role to David Jacob. David has a wealth of experience in our industry and, as interim CEO, has been instrumental in leading the team successfully through the most challenging times for this company. I am also very pleased that Peter Sanderson will join GAM as CEO, and I’m convinced that together with David, the Board of Directors and the entire management team, he is the right person to drive our company forward from this point.”

Jacob says: “I am delighted to welcome Peter to GAM. He brings with him a wealth of leadership experience and the strong skill set GAM needs in order to prosper in the future. I also very much look forward to continuing to serve GAM in my new role as Chairman, together with my colleagues on the Board of Directors. My brief time as CEO has shown me the deep dedication and commitment of our people to our clients, and I am confident we will emerge stronger from our recent past. By focusing on our areas of expertise, I’m convinced we will be able to get the business back on a profitable growth path, benefitting all our stakeholders over the long-term.”

Sanderson says: “I am thrilled to be joining GAM and look forward to leading the business through its stabilisation and into renewed growth. With its specialist and distinct product offering, and the true independence of its investment managers, GAM is in a unique position in the asset management industry. I look forward to working with the talented and dedicated staff at GAM to continue delivering the products, services and returns our clients expect from us.”

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