Swiss asset manager GAM hires bankers to explore 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 , 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.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.

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