GAM Holding AG announces first steps in turnaround. Group Management Board (GMB) strengthened with new appointments focused on growing the business and a return to profitability. The appointments to the GMB reflect the deep bench of talent at GAM.

All the newly appointed members have the relevant experience to lead the implementation of GAM?s turnaround under the overall leadership of Elmar Zumbuehl and oversight of the Board of Directors. In addition to the internal appointments, Albert Saporta has been appointed to the GMB as Global Head of Investments and Products. Albert has deep knowledge and expertise in alternatives and played a leading part in ensuring that GAM remained an independent asset manager.

The GMB now consists of Elmar Zumbuehl (Group Chief Executive Officer), Rossen Djounov (Global Head of Sales and Distribution), Martin Jufer (Global Chief Operating Officer & GAM CH CEO), David Kemp (Global Head of Legal and Compliance & GAM UK CEO), Richard McNamara (Group Chief Financial Officer) and Albert Saporta (Global Head of Investments & Products). The GMB will focus on growing GAM?s existing core strategies and exploring new opportunities including distribution partnerships, wealth management and specialised investment strategies such as alternatives. Rossen Djounov, Global Head of Distribution and Sales: Prior to being appointed Global Head of Distribution and Sales, Rossen was the Managing Director and Head of GAM?s Asia Business based in Hong Kong where he was responsible for APAC distribution and for the business management of GAM?s offices in Hong Kong, Singapore, Sydney and Tokyo.

Rossen joined GAM in 2008 in London to help build the Structured Investments business. From 2015 to 2017 he was GAM?s Head of International Distribution leading the firm?s distribution activities in US offshore, Latin America, Central and Eastern Europe and the Middle East, Japan, Australia and New Zealand. Prior to GAM, Rossen spent 12 years at Forsyth Partners in various roles in London and Dubai including Head of Investments and Head of Distribution.

He holds an MBA in Financial Services from the University of Exeter. Rossen is a UK and Bulgarian citizen and is based in Hong Kong. Martin Jufer, Global Chief Operating Officer and CEO Switzerland: Prior to being appointed Global COO, Martin was Global Head of Wealth Management.

Until 2022 Martin was the region head of continental Europe and oversaw GAM?s Fund Management Services Business. From 2013 to 2015, Martin had been responsible for GAM?s continental European operations function. Before joining GAM, Martin had spent 17 years at Julius Baer in various roles including chief operating officer and head of products and services for Swiss & Global Asset Management and prior to that he had been responsible for fund administration, middle office and IT.

Before joining Julius Baer, Martin was an auditor with Ernst & Young. Martin holds an MBA from the University of St. Gallen (HSG), and he is a certified European financial analyst (CEFA), US certified public accountant (CPA) and a certified ESG analyst (CESGA).

Martin is a Swiss citizen. David Kemp, Global Head of Legal and Compliance & GAM UK CEO: Prior to being appointed UK CEO and Global Head of Legal and Compliance, David was Global Head of Compliance. Prior to joining GAM in October 2018, David was General Counsel, Asset & Wealth Management at Schroders from 2012.

He previously held a number of senior front office positions in investment banks including Head of Sales and Structuring. His experience includes credit, commodities, infrastructure, direct lending, non-performing loans, alternatives, quantitative strategies, supply chain finance and sharia compliant products dealing with institutions, corporate and high net worth clients across Asia, the Middle East Europe and North America. David began his career as a solicitor with a leading City law firm.

David holds a post-graduate diploma in law and legal practice course from the College of Law, Guildford, a master's degree in Business Finance from Brunel University and a BA (Hons) in Philosophy from King?s College, University of London. He holds the FT NED Diploma. David is a UK citizen.

Albert Saporta, Global Head of Investments & Products: Albert Saporta has 40 years? experience in global financial markets, with over 30 years in the hedge fund industry focusing on special situations and arbitrage. Albert started his career at Paribas in Paris, where he managed the Japan/Asia mutual funds from 1984-85.

He joined Merrill Lynch in London as Vice President of Japanese equity sales from 1985-88, covering major UK, European and US institutional accounts. In 1988, he joined UBS Securities in London where he headed quantitative research and hedge fund sales for Japanese equities until 1991. He then joined IFM, at the time the first London-based hedge fund of size and owned by Jacob Rothschild?s St James?s Place and AIG and where he set up and managed relative value global equity arbitrage strategies until early 1995.

He then left to set up Geneva-based AIM&R, a hedge fund advisory and research firm, managing the top-performing SOG and SOGAsia funds (the latter in a strategic JV with UOB). In March 2006, Albert sold AIM&R ?s research and hedge fund businesses to ABN Amro Bank (London). As part of the transaction, he set-up the Special Opportunities Group (SOG) at ABN (based in London, Singapore and Sao Paulo), managing a balance sheet of over USD 1 billion in global arbitrage strategies and special situations.

AIM&R was relaunched in 2011 under its current form as a research and trading advisory firm, and advising some of the largest global hedge funds, pension funds, prop trading firms and UHNW family offices. Albert has a master?s in International Affairs from Columbia University (1984), an MBA (1983) and BSc in economics (1982) from New York University, and a Math/Physics degree from the University of Nice (1980). In his career, Albert has lived and worked in New York, San Francisco, London, Paris, Geneva, Tokyo, Singapore, Sao Paulo, Rio de Janeiro, Moscow and Tel Aviv.

He is fluent in French, English, Spanish and Portuguese. Albert is a French, Israeli and Spanish citizen.