GAM rebuilds board; announces new strategy plan

Ridhima Sharma
clock • 2 min read

After another year of losses, GAM is once again restructuring the top management. 2019 resulted in a consolidated loss of CHF 3.5m, compared to a loss of CHF 916.8m in the catastrophic year 2018. Group Management Board (GMB) will receive no bonus for 2019 and CEO Pete Sanderson (picture above) has requested to forego a contractual fixed cash award due this year. Also BoB will propose no dividend for the financial year 2019, the bank announced.  Thomas Schneider will be proposed at the next Annual General Meeting on 30 April 2020 for election as a new member of the BoD, subject to the ...

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