Swiss asset management giant GAM has suspended investment director Tim Haywood, following an internal investigation into issues relating to his risk management procedures and record keeping.
Haywood, who is the business unit head for GAM's CHF 11bn (£8.5bn) AUM unconstrained/absolute return bond strategy (ARBF), is also under the scrutiny of the relevant regulators, who have been "kept informed of the matter", the firm said. In a statement, GAM stressed that the investigation into Haywood, who is also a named manager of CHF 2.9bn (£2.2bn) in trade finance funds and CHF 653m (£502m) in other fixed income portfolios, "has not raised concerns regarding his honesty". The investigation has also yet to find "any material client detriment… as a result of the issues investigated,...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
