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But GAM is also writing off 67 million francs for Cantab, which the Swiss firm snapped up in 2016 for $217 million plus a 40 percent cut of future fees. This is slightly more than the 59 million flagged by previous CEO Friedman in July.

The restructuring as well as costs related to the absolute return bond fund formerly managed by Tim Haywood will add another 30 million francs to its charges this year. As a result, dividends are being halted for this year.

High-Profile Exits

Jacob, the new CEO, has launched a restructuring push including cutting 10 percent of jobs next year, which would translate to at least 90 people. It has also reportedly had prominent exits including luxury fund manager Scilla Huang Sun and fixed income expert Enzo Puntillo. GAM hasn't named the fund managers who have left.

Last month, the company had began merging investment teams and cutting jobs. GAM will also demote two top executives: investment chief Larry Hatheway and head economist Tim Dana, reducing its C-suite to seven people from nine. Hatheway and Dana will remain with the firm's senior management, GAM said. The company is in an extraordinarily fragile state, and is fending off suitors for individual parts of its business