GAM confirms Haywood investigation follows concerns raised by internal whistle-blower

CEO labels whistle-blower as 'brave'

GAM has confirmed the investigation and suspension of investment director Tim Haywood, which has led to liquidation of its suspended £5.6bn unconstrained/absolute return bond Luxembourg funds (ARBF), is the result of concerns raised by an internal whistle-blower.

In an announcement released this morning, the group responded to media speculation which began last month, surrounding potential conduct issues involving investment director Haywood. It said the investigation, which was launched in November 2017, came following concerns raised by an internal whistle-blower, whose existence and identity it has since protected, and that it "fully intends to continue to provide all appropriate protections to the whistle-blower". "In November 2017, an internal investigation, supported by independent external counsel, was launched. In March 2018, the whist...