Swiss asset manager GAM has hired a former Blackrock manager to help it open a new market overseas. The company now has a total of 14 branches spread across the globe.
GAM Investments opened a branch in Sydney, the first in Australia, the Swiss company said in a statement on Tuesday. The branch is the No. 14 in the company’s global network.
GAM appointed Alex Zaika as head of office, effective at the end of July, 2018. Zaika joins from Blackrock, where he was working in the rank of a managing director.
Growth Market Australia
In Australia, the Swiss company currently manages about A$5.2 billion (3.9 billion Swiss francs) in assets for institutional and wholesale clients. In total, GAM has about 166 billion francs in assets under management, as of the end of March 2018.
Zaika will report to Rossen Djounov, the head of Asia based in Hong Kong. The head of the Sydney office will build a team of local experts to develop new investment strategies and enhance the relationship with clients.
End of Marketing Agreement
Zaika has more than two decades of experience in Australian financial services. Before his time at Blackrock, Zaika also worked for Barclays Capital and Macquarie Bank in the institutional and retail banking business.
As part of GAM’s new strategy for Australia, the company will stop the 14-year third-party marketing agreement with Shed Enterprises, the Swiss firm said.
«Australia is a very important and growing market for GAM, and the decision to expand our presence here is a natural consequence of our desire to be closer to our clients,» said Tim Rainsford, head of sales and distribution.
