Asset manager GAM has hired Richard McNamara as group chief financial officer (CFO), following Marco Suter’s decision to step down from the role and from his position on the group management board.
Suter will leave the firm by the end of 2015 at the latest, having joined GAM in June 2010 and become its group CFO in January 2013. As his replacement, McNamara’s appointment is subject to the approval of the Swiss Financial Market Supervisory Authority, FINMA.
McNamara is to join GAM and take up a position on the group management board during the second half of 2015. He previously held the role of managing director, finance, at Henderson Group, where he focused on the group’s financial operations, including mergers and acquisitions activity. He has also held senior finance roles at Western Asset Management, Legg Mason and Citigroup Asset Management.
Suter will remain with GAM as a senior adviser, first to assist McNamara during the transition period, and then to support the company’s chief executive officer and senior management in strategic projects.
Headquartered in Zurich, GAM has assets under management of $127 billion (€116.3 billion), as at March 31, 2015.
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