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Inside the battle to secure GAM’s future: ‘Something has to happen soon…or there will be more dire circumstances’

Beset by turmoil since a scandal involving a star fund manager broke in 2018, GAM's future is now to be determined in the coming days

While GAM has continued to bleed assets since the scandal broke, its balance sheet has also taken a significant hit
While GAM has continued to bleed assets since the scandal broke, its balance sheet has also taken a significant hit Photo: Alamy

It's been five years since a scandal erupted at GAM involving one of its star fund managers, plunging the Swiss asset manager into a prolonged period of turmoil.

So when Liontrust announced a £96m bid for the Zurich-headquartered group in May, it seemed to many GAM staff that a brighter future lay ahead for the firm, which was once among Europe’s largest asset management groups.

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