GAM has transferred its third-party fund management services business to Carne Group with effect from today (1 February).

The asset management group said this was an important step in its updated strategy, reducing complexity to enable  growth of core active investment strategies, diversifying into new investment products, and building its wealth management offering and strategic partnerships.

Martin Jufer, member of the group management board and global chief operating officer at GAM, said: “We are pleased to have been able to transfer our third-party fund management services business to Carne. I would like to thank clients, employees and everyone involved for their loyalty and commitment, which has made this handover possible.

"Our clients will be able to benefit from a seamless transfer to one of the leading providers in Europe. This is an important step in the implementation of our updated strategy and will enable GAM to enhance effectiveness and focus on the growth of our investment management business.”

John Donohoe (pictured), CEO, Carne Group, said: “As part of our strategy to be the leading partner in regulation and governance solutions for the funds industry, we are pleased to have collaborated with GAM in transferring their leading Swiss and Luxembourg third party management company clients and highly-respected team, to Carne Group.

"We look forward to bringing Carne’s extensive international capabilities to GAM clients as well as our new Swiss market solutions to existing clients looking to access one of the world’s largest financial centres.”