GAM’s Sustainability Head Is Latest Senior Exec to Depart Swiss Money Manager

This content was published on July 22, 2024 - 14:05

2 minutes

(Bloomberg) — GAM Holding AG’s Chief Sustainability Officer Stephanie Maier is set to depart, adding to a string of senior executives leaving the Swiss asset manager.

Maier has decided to take up an opportunity outside GAM and will be leaving the firm at the end of August, a spokesman for Zurich-based GAM said in response to queries from Bloomberg News. Katherine Roach, an insider, has been named GAM’s global head of sustainability and investments business management effective Aug. 1, according to the company.

Based in London, Maier started working for GAM in January 2021 and was previously with HSBC Holdings Plc and Aviva Investors, according to her LinkedIn page. She didn’t immediately respond to a request for comment.

Prior to Maier, the firm lost Tim Love and Joaquim Nogueira, who were managers in its emerging-markets equities team, Bloomberg News reported last month. Others who left earlier include UK equities fund manager Adrian Gosden, now with Jupiter Fund Management Plc; Mark Hawtin, now with Liontrust Asset Management Plc; and, Swetha Ramachandran, now with Artemis Investment Management.

GAM has also hired in the meantime, including Randel Freeman, who was earlier this month named the co-head and co-chief investment officer of its alternatives division.

The firm has seen a decline in its assets for years and is seeking to rebuild its business following the takeover by an investor group led by French billionaire Xavier Niel. The asset manager, which sold its management company operations in Ireland, Luxembourg and the UK to Apex Group Ltd. earlier this month, is set to report earnings Aug. 8.

Shares of the company have tumbled more than 90% since the end of 2019.

–With assistance from Clara Hernanz Lizarraga.