GAM's top economist Larry Hatheway is set to leave the battered asset manager, finews.asia has learned.
Larry Hatheway is leaving GAM at year-end, according to a memorandum staff on Wednesday and seen by finews.com. He is GAM's chief economist for private clients, charities, multi-asset and alternative investments solutions teams.
His exit, to pursue undisclosed, outside opportunities, comes as GAM's new CEO Peter Sanderson starts on Monday. The memo said that Kier Boley, a fund manager on the solutions team, will run the alternatives and private clients part of Hatheway's job. Andrea Quapp will continue to run the multi-asset class team based in Zurich, and Julian Howard the same team based in London.
Seeking New Normal
GAM is desperately seeking normalization after spending the last year winding down a flagship bond fund. It swung to a net loss last year, scrapping its dividend and slashing spending in a recovery effort.
The company's handling of the fund scandal, set into motion by an internal whistleblower, sparked a shareholder rejection of GAM's company's management and board in May. The star fixed income manager fired by GAM in February, Tim Haywood, and the company set their differences aside last month.
