Just over a month after its shareholders rejected a takeover bid from British fund manager Liontrust, the newly-elected board at Swiss-based asset manager GAM has appointed global chief risk officer Elmar Zumbuehlas as chief executive.

Natixis Asset Management, an affiliate of Natixis Investment Managers, will be rebranded.

The FCA announced a radical overhaul of the asset management sector this morning.

The founder of an asset manager business is part of a group aiming for the “biggest tactical voting drive ever” in order to “stop extreme Brexit”.