GAM Holding, the Swiss asset manager, has announced the appointment of Elmar Zumbuehl as its new Group Chief Executive Officer (CEO) with immediate effect.
Experience and Background
Zumbuehl has been a part of GAM since 2010 and has held various senior positions within the company. Most recently, he served as the Global Chief Risk Officer and a member of the Group Management Board. Prior to his time at GAM, Zumbuehl spent ten years at Julius Baer, where he held senior roles, including at its Asset Management business.
Restructuring and Change in Leadership
Last week, GAM shareholders elected a new board during an extraordinary general meeting. This move was in line with the company's announcement in August that the former board members would step down after the election of new directors. This decision came after an agreement with an investor group, led by NewGAMe, which is controlled by an entity owned by French telecommunications billionaire Xavier Niel's personal holding company, along with Bruellan. NewGAMe expressed its intention to select a candidate to replace former CEO Peter Sanderson.