The Zurich-based asset manager's 350 staff in London are spread over four locations – all in Mayfair.

The firm had previously planned to unify its staff in a new office development, Nova, on Victoria Circle, but had decided to put those plans on ice following the Brexit vote, a spokeswoman told finews.ch, confirming a report by «Bloomberg».

No Plans for London Retreat

GAM «didn't feel it was sensible» to enter a long-term rental contract given the current political climate, the spokeswoman said.

She emphasized that the decision merely means that GAM's staff will remain scattered in the four buildings it currently rents, and that the asset manager has no plans to retreat from London.