Gam has hired Guglielmo Mazzola as a senior investment specialist for its Systematic team.
Mazzola (pictured) will be based in the Swiss manager’s London office where he will interface with clients and Gam’s distribution outfit, while also working closely with the Systematic team to “articulate” their investment strategies.
Most of Gam’s funds have continued to be plagued by outflows and its quantitative hedge funds that come under the Systematic umbrella are no exception. In 2021, the business was hit by CHF 1.7bn (£1.3bn) of net redemptions, worse than any other asset class apart from fixed income (-CHF 2.3bn). This took assets in the team down to CHF 1.2bn (£980m).
Gam CEO Peter Sanderson said Mazzola’s “deep experience in systematic investing and related client management communications” would be instrumental in helping Gam maximise its alternatives capabilities.
Prior to joining the Swiss manager, Mazzola worked as a senior portfolio manager at Tiber Capital, a London asset manager specialising in alternatives and systematic managed futures. Between 2008 and 2010 he worked for HSBC Bank in Milan as an M&A analyst.
Gam has made sweeping changes to its investment team in a bid to turn the tide of flows. Last September it axed 17 employees from its Lugano-office after liquidating five funds with limited growth prospects.
Meanwhile it has pivoted toward ESG, launching its debut fund, a sustainable local emerging bond strategy, a year ago.
See also: Gam adjusts profit targets after assets drop by £18bn
