Asset Management

GAM targeted UK in redundancy drive

New management at the Swiss group looked to cut London staff months after taking charge

Wednesday 2 October 2024 at 13:20

GAM’s bosses wanted staff at its Finsbury Circus base to voluntarily exit , FN can reveal
GAM’s bosses wanted staff at its Finsbury Circus base to voluntarily exit , FN can reveal Photo: View Pictures/Getty Images

GAM offered voluntary redundancy to UK staff earlier this year as part of a cost-cutting drive at the Swiss asset manager, Financial News has learned.

In an email sent to staff in May by GAM’s global head of people Fiona McAuley, the Zurich-headquartered group said it was opening a voluntary redundancy programme for permanent UK employees as it looked to implement its new strategy.