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GAM targeted UK in redundancy drive

New management at the Swiss group looked to cut London staff months after taking charge

By David Ricketts
GAM’s bosses wanted staff at its Finsbury Circus base to voluntarily exit , FN can reveal
GAM’s bosses wanted staff at its Finsbury Circus base to voluntarily exit , FN can reveal Photo: View Pictures/Getty Images

GAM offered voluntary redundancy to UK staff earlier this year as part of a cost-cutting drive at the Swiss asset manager, Financial News has learned.

In an email sent to staff in May by GAM’s global head of people Fiona McAuley, the Zurich-headquartered group said it was opening a voluntary redundancy programme for permanent UK employees as it looked to implement its new strategy.

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