GAM Holding has appointed Peter Sanderson as group chief executive as it reported a substantial drop off in first half profits.

Mr Sanderson will, subject to regulatory approval, take up the role from 1 September 2019. was most recently with BlackRock where, over more than a decade, he served as head of financial services consulting, EMEA, co-head of multi-asset investment solutions in EMEA, and chief operating officer for BlackRock Solutions in EMEA.

GAM said he will “be focused on further simplifying the business and concentrating on areas of recognised expertise where GAM has competitive edge in order to put the bu...