The Swiss asset management is streamlining a systematic trading business it acquired in 2016.
GAM CEO Peter Sanderson will move its systemic trading investment teams onto its Simcorp platform, a move which will cost jobs in operations, technology, and infrastructure in Cambridge, where Cantab is based, it said in a statement. The move follows the departure of Cantab founder Ewan Kirk, as «Financial News» (behind paywall) reported last month.
Anthony Lawler will continue to lead GAM's systematic business, while Chris Longworth and Silvia Stanescu will lead ten Cambridge-based investment professionals and specialists based who manage GAM's systematic core macro strategy, as well as the planned launch of a sustainable core macro line.
Cantab Cornerstone
Zurich-based GAM said the streamlining doesn't affect a systematic alternative risk premia team in London and Zurich, which is led by Lars Jaeger. It didn't disclose how many jobs it expects to cut as a result of the Cantab move.
Cantab is an abbreviated version of the Latin word for Cambridge, a nod to the firm’s home in «Silicon Fen» just outside the university city. GAM, which was heavily criticized for the pricey acquisition under previous CEO Alex Friedman, made Cantab’s technology platform the cornerstone of its systematic trading division.
