GAM investor group changes CEO candidate day before shareholder vote

Additional financing pledged

Eve Maddock-Jones
clock • 3 min read

The GAM investor group composed by NewGAMe and Bruellan has changed its candidate for the asset manager's CEO a day before shareholders are set to vote on the new boss.

The NewGAMe shareholder group had previously put forward Randel ‘Randy' Freeman for the role but announced on Tuesday (26 September) that Freeman has had to pull out of the race "due to unforeseen family circumstances". The group is now backing GAM's chief risk officer Elmar Zumbuehl for the role, noting he had already "accepted the opportunity to work with the new board as CEO of GAM". Zumbuehl  joined GAM in 2010 and is a member of the Group Management Board. Prior to joining the firm, he worked at Julius Baer's asset management business, which GAM was part of at the time, for ten y...

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