Swiss asset manager GAM Holding AG is enlarging its presence in the US by opening a second office in the country, in the financial district of Miami.
The move was driven by demand from US offshore clients, mostly in Latin America, according to a spokesperson. Alejandro Moreno, already at GAM, will relocate and lead the Miami operation.
The Zurich-based firm, which has suffered years of declining assets, is seeking to rebuild under an investor group led by French billionaire Xavier Niel. GAM this year transferred its third-party fund management services business to Carne Group in a bid to reduce complexity, and plans to add new investment product areas as well as build the wealth management offering.
GAM also named a new head for the Iberia distribution team to replace Juan Ramon Caridad, who formerly oversaw the Iberia and Latin America business and exited the firm earlier this year.
GAM’s head of the Middle East, Philip Rosenberg, is leaving the company, adding to a string of senior executive departures. Rossen Djouno, global head of client solutions, will take responsibility for customers in the region, the spokesman said.
Rosenberg confirmed his departure in comments to Bloomberg.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
