The distinguished funding administration agency GAM Holding is intensifying discussions over a possible sale months after it was pressured to challenge a revenue warning.
Sky News has learnt that GAM, which has belongings below administration of roughly CHF74.5bn (£66.38bn), is working with bankers at UBS to area curiosity from potential bidders.
The course of is claimed to be at a preliminary stage with a deal unlikely to be imminent, in response to trade sources.
GAM, which was caught up within the controversy surrounding the collapse of Greensill Capital, the availability chain finance group, additionally explored a sale 4 years in the past.
Quite a lot of events are understood to have been approached already as a part of the newest course of.
Shares in GAM are greater than 40% decrease than this time final yr, with the conflict in Ukraine having hit fairness market efficiency in 2022.
On Friday, the corporate had a market capitalisation of simply CHF129m (£115m).
David Jacob, GAM chairman, mentioned alongside its most up-to-date quarterly outcomes: “Despite the most challenging market backdrop seen in years, it is pleasing to see the continuing strength in our investment performance and the good progress we have made to simplify our business.
“Nevertheless, we’re continuously reviewing the progress of the agency, and we’re dedicated to making sure that our technique is suitable and within the pursuits of all our stakeholders.”
A GAM spokesperson declined to touch upon Friday.
Source: information.sky.com”