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GAM warns of profit drop amid rising activist pressure

Management is under pressure to improve profitability at the Swiss investment firm

GAM Holding has warned the market that it expects to report a fall in profits for 2019, heaping pressure on the Swiss investment firm’s management at a time when activist investors are demanding fast improvement.

GAM said in a stock market announcement that it expects pre-tax profits of 10 million Swiss francs for 2019 when it reports full-year earnings next month, down from CHF126.7m in 2018.

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