Hundreds of jobs in the balance at GAM - reports

The FT reported that Sanderson, who left BlackRock to join GAM in September of this year, held a recent company town hall, which left staff under the impression that heavy cuts were inevitable. GAM investment head Beesley exits The cuts could represent more than 40% of staff, with GAM employing 863 staff at the end of June, according to its half-year report. No final decision has been taken on the potential cuts but a source told the FT that losses in the group's back office would be "a natural consequence" of the exercise. Sanderson joined GAM after a year in which the company ...