Communiqué de presse

30 April 2020

Results of the Annual General Meeting of GAM Holding AG 2020

• David Jacob elected as chairman of the Board of Directors (BoD)
• Katia Coudray, Jacqui Irvine, Monika Machon, Benjamin Meuli and Nancy Mistretta re-elected to the BoD
• Thomas Schneider elected as new member to the BoD

At the Annual General Meeting (AGM) held on 30 April 2020, the shareholders of GAM Holding AG approved all of the proposals put forward by the BoD. The management report, the parent company’s financial statements and the consolidated financial statements for 2019 were all approved and shareholders discharged the members of the BoD and the Group Management Board (GMB) for the financial year 2019.

David Jacob was elected as chairman and all the other members of the BoD who stood for re-election were confirmed for a term until the end of the next AGM. Thomas Schneider was elected as a new member of the BoD. The proposed membership of the compensation committee (Katia Coudray, Nancy Mistretta and Jacqui Irvine) was also confirmed.

In a non-binding consultative vote, shareholders approved the compensation report for 2019. Shareholders also approved the proposed maximum aggregate compensation amount for the BoD for the upcoming one-year term of office, the maximum aggregate amount of fixed compensation for the GMB for 2020 and the variable compensation for the GMB for 2019.

Shareholders authorised the BoD to increase the share capital by a maximum amount of CHF 798,412 at any time up until 30 April 2021, by issuing a maximum of 15,968,240 fully paid registered shares with a par value of CHF 0.05 each.

David Jacob, Chairman of the Board of Directors, said: “On behalf of the Board of Directors, I would like to thank our shareholders for their continued trust and support during these challenging times. We are delighted that all our proposals have been approved at today’s AGM.

I am pleased to be able to welcome Thomas Schneider to the Board. His extensive experience of audit and in-depth knowledge of the Swiss market will be invaluable. I would also like to thank Hugh Scott-Barrett for his outstanding contribution and commitment to GAM over the past 11 years. In particular, as chairman, Hugh successfully led us through a difficult period for GAM.

The Board of Directors believes that the strategy outlined in February will deliver long-term value for our shareholders. The acceleration of some of the longer term efficiency measures will enable us to respond appropriately to current market pressures. We remain committed to the breadth of our distinctive investment management capabilities, our strong client service proposition and our private funds labelling platform, which we believe are well positioned to help clients actively navigate these uncertain times.”

Further information relating to the AGM of GAM Holding AG, including the voting results on all agenda items, can be found at www.gam.com/agm2020.

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GAM is a leading independent, pure-play asset manager. The company provides active investment solutions and products for institutions, financial intermediaries and private investors. The core investment business is complemented by private labelling services, which include management company and other support services to third-party asset managers. GAM employed 817 FTEs in 14 countries with investment centres in London, Cambridge, Zurich, Hong Kong, New York, Milan and Lugano as at 31 December 2019. The investment managers are supported by an extensive global distribution network. Headquartered in Zurich, GAM is listed on the SIX Swiss Exchange with the symbol ‘GAM’. The Group has AuM of CHF 112.1 billion¹ (USD 115.8 billion) as at 31 March 2020.

This press release by GAM Holding AG (‘the Company’) includes forward-looking statements that reflect the Company’s intentions, beliefs or current expectations and projections about the Company’s future results of operations, financial condition, liquidity, performance, prospects, strategies, opportunities and the industry in which it operates. Forward-looking statements involve all matters that are not historical facts. The Company has tried to identify those forward-looking statements by using words such as ‘may’, ‘will’, ‘would’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘project’, ‘believe’, ‘seek’, ‘plan’, ‘predict’, ‘continue’ and similar expressions. Such statements are made on the basis of assumptions and expectations which, although the Company believes them to be reasonable at this time, may prove to be erroneous.

These forward-looking statements are subject to risks, uncertainties, assumptions and other factors that could cause the Company’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions, and the Company’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. The Company expressly disclaims any obligation or undertaking to release any update of, or revisions to, any forward-looking statements in this press release and any change in the Company’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation.