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GAM and ex-star manager who ran Greensill fund fined £9m over conflicts of interest

GAM said it accepts the FCA’s findings and acknowledges the conflicts of interest shortcomings at the firm between late 2014 and early 2018

By Bérengère Sim
Both GAM and Tim Haywood qualified for a 30% discount from 13m and 319,044 respectively because they resolved all issues of fact and liability
Both GAM and Tim Haywood qualified for a 30% discount from 13m and 319,044 respectively because they resolved all issues of fact and liability Photo: Alamy Stock Photo

The City watchdog has fined Swiss asset manager GAM £9.1m and its former star manager Tim Haywood £230,037 for “conflicts of interest and gifts and entertainment issues”.

Both the asset manager and Haywood qualified for a 30% discount from £13m and £319,044 respectively because they “resolved all issue of fact and liability”, the Financial Conduct Authority said in its 16 December statement.

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