Zurich-listed GAM Holding is engaging with UBS investment bankers on strategic options including a sale.
After being obliged to issue a profit warning many months ago, the major investment management firm GAM Holding is escalating talks over a possible sale.
GAM, which manages around CHF74.5bn (£66.38bn) in assets, is collaborating with UBS bankers to solicit interest from potential bidders.
According to industry sources, the process is reportedly in its basic stages and a deal is not imminent.
GAM, which was embroiled in the scandal involving the bankruptcy of supply chain finance business Greensill Capital, was also considered a sale four years ago.
It is believed that several parties have already been contacted as part of the most recent procedure.
The war in Ukraine has negatively impacted equities market performance in 2022, as GAM shares are more than 40% lower than they were at this time last year.
On Friday, the company’s market capitalization was only CHF129 million (£115 million).
David Jacob, chairman of GAM, stated accompanying its most recent quarterly results, “Despite the most adverse market backdrop in years, it is gratifying to witness the continued strength of our investment performance and the good work we have achieved in streamlining our business.
“We are committed to ensuring that our strategy is suitable and in the best interests of all of our stakeholders, and we are constantly evaluating the growth of the company.”
On Friday, a GAM representative declined to comment.
