Tim Rainsford was named group head of distribution at money manager GAM, effective Jan. 1, a news release said.
He will replace Craig Wallis, who is currently group head of distribution and operations and member of GAM’s group management board. Mr. Wallis will leave his day-to-day responsibilities on Dec. 31 and then depart in early 2017 following a transition period, the news release said. Mr. Wallis’ plans could not be learned by press time.
Mr. Rainsford was previously global co-head of sales and marketing at Man Group and member of that money manager’s executive committee.
A Man Group spokeswoman said in an e-mail that Mr. Rainsford was replaced by Steven Desmyter, who has been named head of sales for Europe, the Middle East and Africa. The spokeswoman could not be reached by press time to provide further information. Officials at GAM could not be reached by press time.