Money Management

GAM’s group head of compliance to leave at end of October

Natalie Baylis, group head of compliance at GAM, is departing at the end of October, a GAM spokeswoman said.

Ms. Baylis, who has been head of compliance since June, will be replaced temporarily by David Kemp on Oct. 1. Mr. Kemp was named interim group head of compliance and will report to Alexander S. Friedman, group CEO, the spokeswoman added. Details of Ms. Baylis' next move were not available.

Mr. Kemp was general counsel, asset and wealth management at Schroders. A Schroders spokeswoman could not be reached to comment about a replacement.

"We will be sad to see (Ms. Baylis) go, and we all wish her the best for the future," Mr. Friedman said in a news release. "I am pleased that we have been able to ensure a smooth transition at this important time, with (Mr. Kemp) joining to lead our global compliance function as we continue to enhance our control and support capabilities."

The GAM spokeswoman declined to provide additional details related to the appointment of permanent group head of compliance.

GAM has 163.8 billion Swiss francs ($169.3 billion) in assets under management.