GAM expects to reduce losses by more than 90%

Follows impairment charge

James Baxter-Derrington
clock • 1 min read
GAM CEO Peter Sanderson
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GAM CEO Peter Sanderson

Swiss asset management firm GAM expects to report a full-year loss of CHF30m (£24m) for 2021, a 92% reduction in its 2020 full-year loss of CHF388.4m (£311m).

The IFRS net loss after tax figure for 2020 was largely comprised of a CHF377.7m (£302.5m) impairment charge linked to legacy goodwill payments related to its acquisition by UBS and then Julius Baer...

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