| September 28, 2018

GAM CCO steps down two months after joining the firm from the FSA

Natalie Baylis, Group Head of Compliance
Natalie Baylis, Group Head of Compliance

Natalie Baylis two months after joining Swiss alt asset manager GAM from the UK’s Financial Conduct Authority as Group Head of Compliance and member of GAM Holding AG’s Group Management Board to help with the aftermath of Tim Haywood’s suspension, abruptly announced her departure this week.

Bond PM Haywood had managed over $7 billion for GAM, but was suspended for breaching policies on record-keeping, risk management, and gifts and entertainment (triggered by an internal whistleblower).

Baylis cited “personal reasons” for leaving, and now Schroder’s GC for wealth and asset management, David Kemp, will take over on an interim basis, working partnership with another newcomer, Rachel Wheeler, who two months ago became GAM’s GC from Aviva.

CEO Alex Friedman and Head of Investments Matthew Beesley have been working with key accounts to retain assets and regain trust, and, given the board director issues around Haywood, GAM implemented a new policy that bars PMs from being on boards of any investment-advisory entities.

The Compliance Strategy Institute in its most recent “Women in Compliance” executive roundtable in NY discussed how female leaders can work with their counterparts in risk, investments, tech, data and legal to ensure better communication and processes, to establish regulatory and compliance partnerships with the business side.

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Daniel Enskat

Daniel has written over a dozen books on the global asset management industry and has lectured at universities around the world alongside speakers such as Secretary of State John Kerry, Dr. Mark Mobius, ex-Fed Chairman Alan Greenspan, Professor KC Chan and former Prime Minister Gerhard Schroeder.

He is widely sought after for presentations, discussions and his perspective on the global asset management industry, and in the last two decades has advised hundreds of investment management CEOs on strategy and global expansion.

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