The Swiss asset manager poached from its larger U.S. rival again, hiring a specialist for distributing to institutional clients in Australia.
Zurich-based GAM is hiring Sophie McFadyen as a senior manager for the institutional market in Australia, effective immediately, it said in a statement on Tuesday. McFadyen, who will be based in Sydney and report to Australia chief Alex Zaika, was previously with Blackrock in a similar role.
She is the latest in a series of hires including top executives from Blackrock under CEO Peter Sanderson, a British executive who spent the bulk of his career at the U.S. asset management giant. GAM is still recovering from its entanglement with Greensill, which surfaced in 2018 and led to the closure of a key line of fixed income funds.
Sanderson has slashed spending and jobs as well as folded Cantab, a 2017 acquisition, more closely into GAM. McFadyen's hire follows GAM's opening of an office in Singapore last week.
