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Head of fixed income among raft of names exiting GAM

Head of fixed income among raft of names exiting GAM

GAM’s head of fixed income, Enzo Puntillo (pictured), is among 13 fund managers that are definitely leaving the Swiss group, Wealth Manager sister title Citywire Selector has learned.

It is understood that Puntillo’s exit comes amid plans for the emerging markets team to be centralised in London under the stewardship of Paul McNamara.

Also leaving the fixed income team are Michal Novak and Peter Schütz, who cover interest rates. Laurence Kubli and Matthias Wildhaber will also exit as a result of the ABS and MBS teams being merged into one unit.

It is understood that the fixed income teams will be redefined to focus on four areas – emerging markets, global credit, structured credit (ABS/MBS) and global strategic bonds, which will encapsulate the company’s total return efforts.

Additionally, GAM is currently seeking regulatory approval to consolidate its European equity operations. This will become one combined unit under the leadership of Niall Gallagher.

As a result of the consolidation, the following managers will depart: Hans Ulrich Jost, Scilla Huang Sun, Andrea Gerst, Oliver Maslowski, Andy Kastner, Carlo Capaul, Stefan Fröhlich and Philippe Hungerbühler.

Plans for cuts were first attributed to interim CEO David Jacob last month. This week, Bloomberg reported a total of 18 managers would leave the group as it seeks to consolidate its Zurich- and London-based operations.

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Enzo Puntillo
Enzo Puntillo
3/9 in Bonds - Absolute Return EUR (Performance over 1 year) Average Total Return: -0.97%
Scilla Huang Sun
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6/15 in Equity - Consumer Discretionary (Performance over 3 years) Average Total Return: 51.62%
Paul McNamara
Paul McNamara
37/45 in Bonds - Emerging Markets Global Local Currency (Performance over 3 years) Average Total Return: 15.87%
Oliver Maslowski
Oliver Maslowski
8/8 in Equity - Germany (Performance over 3 years) Average Total Return: 24.94%
Hans Ulrich Jost
Hans Ulrich Jost
1/63 in Equity - Eurozone (Performance over 3 years) Average Total Return: 59.69%
Andy Kastner
Andy Kastner
25/30 in Alternative UCITS - Market Neutral (Performance over 3 years) Average Total Return: -7.45%
Philippe Hungerbühler
Philippe Hungerbühler
20/118 in Equity - Global Equity Income (Performance over 1 year) Average Total Return: 5.71%
Carlo Capaul
Carlo Capaul
23/87 in Equity - Global Equity Income (Performance over 3 years) Average Total Return: 37.82%
Niall Gallagher
Niall Gallagher
88/96 in Equity - Europe Excluding UK (Performance over 3 years) Average Total Return: 20.93%
Stefan Fröhlich
Stefan Fröhlich
Andrea Gerst
Andrea Gerst
Laurence Kubli
Laurence Kubli
Matthias Wildhaber
Matthias Wildhaber
Michal Novak
Michal Novak
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