GAM has hired a new head of distribution from rival Man Group. The move comes shortly after the Swiss fund boutique bought Cantab, a U.K.-based multi-strategy systematic manager, as the cornerstone of a new investment platform.
GAM said that Tim Rainsford, who is currently Man Group's co-head of sales and marketing, will join effective January 1. Rainsford, a 13-year veteran of the U.K. hedge fund giant, will be responsible for GAM's distribution, marketing and product development.
The hire represents a sharper focus on product sales for GAM, which is seeking a return to its roots as a leading investment house. It spent $217 million last month to buy Cantab, a so-called systemic asset manager based in Cambridge.
Cantab forms the basis for GAM's new investment platform for systematic products in liquid alternatives and long-only traditional asset classes including equities, debt and multi-asset class.
Outsourcing Efforts
GAM's current head of distribution, Craig Wallis, has spent the better part of last year leading efforts to outsource the company's fund services such as custody, accounting and administration, asset pooling, securities lending and foreign exchange to State Street, in an effort to lower costs.
Wallis leaves GAM early next year, following a transition to Rainsford.
Cantab Deal
Rainsford, who is Australian, will be based in London. He began at Man in Australia in 2003 and spent many years in senior Asia roles. Prior to Man, he worked for J.P. Morgan.
«Tim’s expertise in selling and marketing sophisticated investment solutions, including quantitative strategies, will be invaluable to our ambitious growth efforts, especially following our recent acquisition of Cantab Capital Partners and the launch of our GAM Systematic platform,» GAM Chief Executive Alex Friedman said in the statement.
The firm was founded in 1983 by Gilbert de Botton, widely considered the architect of open architecture in asset management, later sold to UBS, then Julius Baer, and ultimately spun off again.
