GAM attempts to find buyer as results deadline looms - reports

Annual results due in April

GAM Asset Management is seeking a buyer before the firm’s annual results, due to be published in April, according to reports.

The FT reported the asset manager is searching for a buyout before the April deadline. The firm delayed its annual results in January, revealing that its losses had widened to £273.1m in 2022. It had already posted a loss of £242.6m in its half-year results in August 2022. In January, it wrote that it had delayed the results to give its board of directors the "necessary time to prepare" an update to a strategy review of the firm. However, multiple sources told the FT the firm had postponed its annual results in an attempt to give it extra time to find a buyer. At the end of last...