Nearly half of GAM's board members resign

Nearly half of GAM's board members plan to retire at the annual meeting of the Swiss fund manager next month.

The Zurich-based group said three members of its seven-member board, two of whom have been in the group for three years or less, would not be running for re-election at the meeting earlier this month. may.

No reason was given for their decision. GAM is currently in the midst of recovery after a tumultuous year in which it was shaken by a whistleblowing scandal and the sacking of a bond trader.

Ezra Field, Monica Mächler and Diego du Monceau are on the list.

Mr. Field joined GAM's Board of Directors in 2016. He is also Co-Chief Investment Officer and Senior Executive Director of Roark Capital Group, a private equity firm based in Atlanta.

Ms Mächler joined the GAM Board a year ago. She also serves on the boards of directors of Zurich Insurance Group and Zurich Insurance Company, as well as Cembra Money Bank, a Swiss financial group.

Mr. du Monceau has been a member of the Board of Directors since 2010.

The three replacements proposed by GAM are women who, if they were elected, more than half of the members of the new GAM board would be women.

They highlighted Katia Coudray, former managing director of Syz Asset Management and Swiss citizen, and Jacqui Irvine, former general counsel and corporate secretary at Janus Henderson, who she held until 1993. last year. Ms. Irvine is British. They also highlighted Monika Machon, former vice president and treasurer of AIG, a German and British citizen.

Hugh Scott-Barrett, Chairman of the Board, "I would like to thank Diego for his unwavering support and commitment over the past nine years, as well as Ezra and Monica for their active involvement and personal contributions as members of the advice, especially in the last 12 months. "