The Swiss asset manager is hiring a distribution expert in Australia, in a bid to focus on wealthy clients and their gatekeepers.
Zurich-based GAM is hiring Daniel Sharp to oversee wholesale, high net worth and family office clients in Australia, effective immediately, it said in a statement. He was most recently a sales director at Apostle Fund Management.
Last week, GAM warned of its fourth consecutive net loss, four years after a fund entanglement with Greensill, the now-insolvent U.K.-based supply chain finance firm.
Private Market Strategy
GAM said the hire of Sharp coincides with its strategy to provide clients access to late-stage private companies in the final rounds of non-public funding. He will report to Australia head Alex Zaikai and be based in Sydney.
After a whistleblower raised alarm about Greensill, GAM shut the fund, sacked the manager, and returned the remaining money to investors. GAM settled an U.K. regulatory probe into the matter last month, but CEO Peter Sanderson has had trouble stanching withdrawals.
