Graham Wainer, the group head of investment for multi-asset class solutions at GAM, is to step down from his role after less than a year.
Wainer will remain at the firm as an investment consultant and serve as a senior adviser to the multi-asset portfolio solution business.
He will also become non-executive chairman at GAM’s UK arm.
Group chief economist Larry Hatheway will replace Wainer with responsibility for the investment management of GAM’s direct private client mandates.
A firm’s spokeswoman says: “Larry is working with the MAPS investment teams to develop the next generation of GAM’s multi-asset solutions, which will combine asset allocation views with trade ideas, executed through a variety of instruments, including long and short positions in direct securities.”
Wainer, who has been at GAM since 1998, started as group head of investments in February 2015 and supervised the firm’s £8.5bn multi-asset portfolios.
Before GAM, Hatheway was a managing director and chief economist at UBS, where he worked for 12 years. He also held roles at the US Federal Reserve and Citibank.