GAM's Haywood Probe Is Said to Review Deals With Industrialist
- Tim Haywood suspension partly relates to unlisted notes
- Some investments tied to companies controlled by Sanjeev Gupta
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Recent troubles for GAM Holding AG and one of its leading fund managers can be traced to a series of investments tied to a British industrialist, according to people familiar with the matter.
Tim Haywood’s suspension six weeks ago -- which GAM said it decided upon after reviewing alleged violations of internal procedures -- partly relates to investments made in unlisted securities linked to companies controlled by Sanjeev Gupta, said the people, who asked not to be identified because an internal investigation at GAM is ongoing.