GAM expects to reduce losses by more than 90%

Follows impairment charge

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...