2023-12-14 18:29:04
Published on December 14, 2023 at 7:29 p.m.
GAM forecasts a net loss of between 105 and 110 million francs for the year 2023, the Zurich asset management company announced yesterday in a press release. This amount is almost three times lower than the loss recorded for the 2022 financial year, which reached 309.9 million. The group expects a pre-tax loss of 45 to 50 million for 2023, compared to 42.8 million in 2022.
In difficulty since the dismissal of a star manager in 2018, GAM officially passed at the end of September into the fold of a group of investors including the French telecoms magnate Xavier Niel and the Geneva wealth management company Bruellan. GAM had been coveted by an English competitor, Liontrust, whose takeover offer had not attracted enough shareholders.
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