The prominent investment management firm GAM Holding is intensifying discussions over a potential sale months after it was forced to issue a profit warning.

Sky News has learnt that GAM, which has assets under management of approximately CHF74.5bn (£66.38bn), is working with bankers at UBS to field interest from prospective bidders.

The process is said to be at a preliminary stage with a deal unlikely to be imminent, according to industry sources.

GAM, which was caught up in the controversy surrounding the collapse of Greensill Capital, the supply chain finance group, also explored a sale four years ago.

A number of parties are understood to have been approached already as part of the latest process.

Shares in GAM are more than 40% lower than this time last year, with the war in Ukraine having hit equity market performance in 2022.

On Friday, the company had a market capitalisation of just CHF129m (£115m).

Images of the Queen projected into the night sky in Switzerland in tribute

‘Enfant terrible’ of French cinema Jean-Luc Godard dies aged 91

Switzerland’s glaciers melt by half in less than a century, study finds

David Jacob, GAM chairman, said alongside its most recent quarterly results: “Despite the most challenging market backdrop seen in years, it is pleasing to see the continuing strength in our investment performance and the good progress we have made to simplify our business.

“Nevertheless, we are constantly reviewing the progress of the firm, and we are committed to ensuring that our strategy is appropriate and in the interests of all our stakeholders.”

A GAM spokesperson declined to comment on Friday.

Related posts:

Mortgage borrowing takes largest monthly leap as economy finds new gear Ex-Watchstone chief ends three-year search for Innovate UK boss July inflation measure usually used to set annual rail fare rises is highest in ten years Travel hopes, retail slump, four-day week Treasury paves way to compensate Post Office scandal’s forgotten 555 Sub-postmasters who launched Horizon scandal legal fight secure extra compensation Bitcoin rallies slightly but still set for record losing streak Ryanair still discounting as it warns recovery in demand remains ‘fragile’ Bank of England governor warns of ‘apocalyptic’ food prices as he defends inflation policy Shapps to hold crunch talks with British Steel owner amid spectre of mass job cuts Global turbulence, retirement and bugs turning food waste into pet food Shapps steps up talks with British Steel-owner as job cuts loom