An activist investor group that successfully fended off a takeover of GAM by Liontrust is proposing a new CEO for the Swiss asset manager.
The investor group comprised of Newgame and Bruellan SA, which controls nearly ten percent of GAM shares names Randel «Randy» Freeman as its candidate for CEO of GAM.
Freeman is expected to be appointed shortly after GAM’s extraordinary general meeting, expected to be held on or about September 27, subject to regulatory approval.
From 2017 to 2023 he was a member of the Investment Committee at Sterling Strategic Value, one of the oldest activist investors in Europe, and remains an adviser to the firm. Before his move to Europe, he held roles in wealth management and asset management at Goldman Sachs in New York and Chicago.
Building and Selling a Business
He began his career in Europe in 1995 co-managing an internal hedge fund group at Banque Paribas which he and a partner spun off in 2000, creating Centaurus Capital and serving as CIO and CEO. In 2014 the firm was sold to Fortress Investment Group, where Freeman became CIO of Fortress Centaurus Strategies and a Director of Fortress’ London business.
Of Freeman, Antoine Spillmann, Bruellan CEO and Partner said «His deep understanding of the core fund management business is complemented by his hedge fund and alternatives experience, making him the perfect candidate to lead GAM, return the business to growth and create long-term value for all of GAM’s clients and other stakeholders.»
