GAM whistle-blower triggered suspension of its ARBF head, the Swiss asset manager has confirmed. GAM said that it launched a probe into the conduct of suspended head of absolute return bond fund (ARBF) range Tim Haywood, after concerns flagged by an internal whistle-blower.

The firm assured that it will protect the identity of the whistle-blower, who triggered the probe and got the Financial Conduct Authority involved in the matter in March this year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The probe, launched in November 2017, unveiled breaches in Haywood’s risk management and record keeping processes.

It also revealed that Haywood may have flouted the company’s signatory policy as well as gifts and entertainment policy, and may have used personal email for work. However, no evidence of material impact on clients was revealed.

However, the firm stressed that no other employees are being investigated in connection with the matter.

Haywood was suspended in July this year and soon after, GAM announced plans to liquidate its ARBF range, citing high levels of redemption requests.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Till date, investors have been returned between 60% and 87% of the cash in the affected funds.

GAM group CEO Alexander Friedman, said: “At the heart of every modern financial services firm’s systems and controls should be a culture that encourages people to come forward with concerns about colleagues’ behaviour. The only way to maintain that culture is to protect those who are brave enough to do so and to hold accountable those found to be breaking the rules.”