GAM issues fourth profit warning in two years

Forced to book a £438m non-cash impairment

Lauren Mason
clock • 1 min read

Swiss asset management firm GAM expects a net loss of CHF400m (£339m) for H1 2020 as the firm has been forced to book a CHF410m (£348m) non-cash impairment, which was the result of goodwill payments related to its acquisitions of UBS in 1999 and Julius Baer 2005.

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