ZURICH – General Director of GAM, Anti-Credits Asset Officer Alexander Friedman refused to respond immediately. He and the board of directors agreed that the company should "follow up the next development step forward" – GAM.
David Jacob, Member of the Board of Directors, is the Deputy Director General. In addition, the search for a new group head began.
The new stage of development of the company should be guided by new guidelines, GAM writes. Over the last few months, asset management has suffered significant cash inflows.
At the end of July, after the termination of an investment manager, the internal investigation came after criticizing his approach to risk management. As a result, her funds were lost.
The new temporary CEO, David Jacob, has a number of asset managers and has industry experience.
Additional info "on time"
GAM In April, 2017, Britain became a member of the Board of Directors. James's role is to ensure that the GAM strategy is maintained and implemented as "as soon as possible" to support profitability. Additional information will be reported "at the time".
GAM reported a decrease in asset management at the end of September, down from $ 163.8 billion at the end of June. Friedman, the chief executive, has so far pledged to introduce "immediate and timely measures to support profitability".
GAM Board of Directors thank Friedman for his achievements. He has competently managed the business in the face of unprecedented difficulties.
In July, the decision was made to terminate the investment director, who received full support from the board.