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GAM Holding AG (GAMH.S)

GAMH.S on Swiss Exchange

3.31CHF
4:07pm GMT
Change (% chg)

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CHF3.56
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Thu, Dec 13 2018

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Embattled asset manager GAM warns on profit, cuts staff, dividend

ZURICH/LONDON GAM Holding AG said it would cut 10 percent of its staff and ditch its dividend as it warned it would slide to a net loss this year, sending shares in the Swiss asset manager down 30 percent.

UPDATE 2-Embattled asset manager GAM warns on profit, cuts staff, dividend

* Shares down 30 pct to take 2018 decline to 70 pct (Adds share reaction, bullet points, reaction)

Swiss asset manager GAM sees big 2018 loss, omits dividend

ZURICH, Dec 13 Swiss asset manager GAM Holding AG will cut staff by a tenth and omit a 2018 dividend, it said on Thursday, forecasting a 2018 net loss of around 925 million Swiss francs ($931 million) as it shakes up its embattled business.

BRIEF-GAM Holding Revises 2018 Results, Announces Comprehensive Restructuring Programme And Proposes Suspension Of 2018 Dividend

* PROVIDES AN ESTIMATE ON ITS 2018 RESULTS AND ANNOUNCES A COMPREHENSIVE RESTRUCTURING PROGRAMME AS WELL AS A PROPOSED SUSPENSION OF THE 2018 DIVIDEND

Swiss asset manager GAM cuts jobs in reorganisation - source

ZURICH Swiss asset manager GAM Holding is cutting around 10 percent of its staff from its fixed income and equities teams in a shake up of its embattled business under its new chief executive.

Swiss asset manager GAM cuts jobs in reorganisation: source

ZURICH Swiss asset manager GAM Holding is cutting around 10 percent of its staff from its fixed income and equities teams in a shake up of its embattled business under its new chief executive.

UPDATE 2-Swiss asset manager GAM looks for new CEO to lead turnaround

* Shares down more than 2 percent (Adds comments from investors, analysts)

Swiss asset manager GAM's CEO quits after turmoil-fuelled outflows

ZURICH GAM Holding Chief Executive Alexander Friedman resigned on Tuesday, the Swiss asset manager said, as the company seeks to reverse billions in asset outflows that came on the heels of the suspension of a top manager.

BRIEF-GAM Holding Appoints David Jacob As Interim Group CEO

* APPOINTS DAVID JACOB AS INTERIM GROUP CEO AND MEMBER OF GROUP MANAGEMENT BOARD Source text for Eikon: Further company coverage: (Gdynia Newsroom)

Swiss money manager GAM rebuffs Schroders offer for hedge fund unit - FT

GAM Holding AG has rebuffed an offer from Schroders Plc to sell its Systematic division, which handles the Swiss money manager's Cantab quantitative hedge fund unit, the FT reported, citing two people familiar with the matter.

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