GAM Holding has reported a 1000 percent increase in its IFRS net loss in H1 2022, primarily due to the impairment of legacy brand value, which was created by the acquisition of GAM by Julius Baer in 2005.
The IFRS net loss stood at CHF 275.2 million in H1 2022 – CHF 263.6 million was attributable to the legacy issue – compared with a CHF 2.7 million loss in H1 2021.
The underlying pre-tax loss also increased. This stood at CHF 15.4 million compared to an CHF 0.8 millio...
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