Fund manager GAM has transferred its third-party fund management services business to Carne Group, which provides an outsourced management company service.
GAM said this was an important strategical step that would reduce complexity and enable GAM to focus on growing core active investment strategies, diversifying into new investment products, and building its wealth management offering.
Martin Jufer, member of the group management board and global chief operating officer at GAM, said: “This is an important step in the implementation of our updated strategy and will enable GAM to enhance effectiveness and focus on the growth of our investment management business.”
John Donohoe, CEO, Carne Group, said: “We look forward to bringing Carne’s extensive international capabilities to GAM clients as well as our new Swiss market solutions to existing clients looking to access one of the world’s largest financial centres.”
GAM’s total assets under management were 64.9 billion Swiss francs, as at September 30, 2023, with fund management services at 44.7 billion Swiss francs.
