NewGAMe investor group welcomes GAM board approval for EGM proposals and reiterates its long-term support for the company
Geneva, Sept. 06, 2023 (GLOBE NEWSWIRE) --
EGM to be held on 27 September 2023 will vote on new GAM board members and proposals to create conditional capital for financing purposes and an increase of share capital range
Jeremy Smouha – a founding member of GAM with 43 years’ investment experience – is a new candidate for GAM’s board
EGM proposals are part of NewGAMe’s commitment to secure the necessary additional financial resources to fund GAM’s operations and build a successful business for the benefit of all stakeholders
The investor group comprised of NewGAMe SA and Bruellan SA, which controls approximately 9.6% of the issued share capital of GAM Holding AG [GAM:SWX] (“GAM”), reiterates its long-term support for GAM and urges other shareholders to join the current GAM board in voting for the EGM proposals from Rock Investment SAS, a member of the investor group.
The agenda for the EGM – to be held on 27 September 2023 – was published today by GAM and includes proposals for elections to the Board of Directors, elections to the Compensation Committee, the creation of conditional capital for financing purposes, and an increase of GAM’s share capital range.
The nominees for election are: Antoine Spillmann, as Chair; and Carlos Esteve, Anthony Maarek, Fabien Pictet and Jeremy Smouha as members of the GAM board.
Jeremy Smouha is a new candidate to the board. He is Chairman of Atlanticomnium SA, an investment management firm based in Geneva specialising in corporate bonds and has been CEO of its London branch since 2012. The firm has been managing the award-winning GAM Star Credit Opportunities range of funds/strategies since 1985. Jeremy was a founding member of GAM in 1983 and held various positions at the firm, including managing GAM bond funds from 1985 to 2002. He was a director and member of GAM’s Investment Committee and co-manager of a range of GAM’s multi-asset funds from 1998 to 2012.
Once the proposals are passed, the new GAM board will take steps to adjust the board representation to meet the requirements of the Swiss Code.
Antoine Spillmann, CEO and Partner at Bruellan and proposed candidate for Chair of GAM said:
“We are excited by the opportunities that lie ahead and have made a long-term commitment to create stability and secure the future of GAM. Our vision is to restore GAM’s reputation, keep the company true to its Swiss heritage and create long-term value for all stakeholders. We are delighted that Jeremy Smouha has agreed to be a candidate for GAM’s board at the forthcoming EGM. Having worked side-by-side with Gilbert de Botton since the founding of the firm in 1983, he has not only a deep knowledge of the business and the asset management industry, but is the depository of GAM’s DNA.”
Jeremy Smouha, Chairman of Atlanticomnium and proposed candidate for the board of GAM said:
“I am delighted to continue my long association with GAM. After all these years, GAM still retains the strong imprint of its founder Gilbert de Botton's vision, namely providing its clients access to great investment talent. With the strong financial backing that GAM now has, I look forward to working with the new team to turn around this great firm and put it back solidly on the growth path.”
NewGAMe SA is a Geneva-based company owned by a number of investors with experience in the financial sector. It is controlled by Rock Investment, a French-incorporated entity that is owned by NJJ Holding, the personal holding company of Xavier Niel. Albert Saporta, a hedge fund industry veteran with 40 years’ experience in global financial markets, serves as the director of NewGAMe SA.
Bruellan SA is an independent provider of global wealth management solutions. The company was founded in 1991 and is located in Geneva, Lausanne, Crans-Montana and Verbier.To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
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