Swiss fund manager GAM founded in 1983 by Gilbert de Botton, and later acquired by UBS in 1999, who sold it to Julius Baer, is executing on a restructuring plan put in place by David Jacob, interim Chief Executive, a dual UK-US citizen, who replaces Alexander Friedman, a former Chief Investment Officer at UBS Wealth Management with an MBA from Columbia. This involves consolidating various teams, including bringing European equities into a single team. In fixed income, four strategic areas have been identified - emerging markets, global credit, structured credit and global strategic bonds. Blackrock owns just over 3% of GAM.
