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Jul 19, 2024 - 15:55
By asia.nikkei.com

Swiss asset manager GAM set to close Hong Kong office

HONG KONG -- Swiss asset manager GAM Investments will close its 39-year-old Hong Kong office "sometime next year" as it seeks a new sales channel with local peer Sun Hung Kai & Co. (SHK & Co.).

On Thursday, Zurich-headquartered GAM, which manages $75.8 billion of assets globally, announced that it is forming a "strategic alliance" with SHK & Co., a locally listed alternative investment and wealth manager. Neither company disclosed the value of the merger.