Former BlackRock (NYSE:BLK) executive Jeremy Roberts will become global head of distribution, reporting to Chief Executive Peter Sanderson, as of Sept. 1. Roberts was co-head of EMEA retail sales and head of the UK retail business at BlackRock.
GAM will also create a new role of global head of institutional solutions.
Rainsford, who was appointed group head of sales and distribution and became a member of GAM Holding’s management board in 2017, is leaving GAM “to take up a new opportunity”, it said without elaborating.
GAM Holding (S:GAMH) said last month it expects to report an IFRS net loss for the first half of 2020 of about 400 million Swiss francs ($425 million) as it writes down the value of decades-old goodwill.