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GAM to cut 18 investment manager positions

GAM to cut 18 investment manager positions

Asset manager GAM is set to cut 18 leading investment manager positions, according to news agency AWP.

When approached by Citywire Switzerland's sister title Citywire Selector, a spokesperson for GAM could not comment on the new numbers. The only official statement came in the form of a memo released on 20 November.

According to the news report, which cites a person familiar with the matter, 14 redundancies will take place in Zurich, while four will affect employees in London.

AWP reported that a GAM spokesperson had confirmed the restructuring of the investment team, which is set to affect the equity and fixed income spaces.

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