GAM Holding appoints BlackRock exec Sanderson as CEO

ZURICH (Reuters) - Embattled Swiss asset manager GAM Holding <GAMH.S> on Tuesday named BlackRock executive Peter Sanderson as chief executive as of Sept. 1, replacing interim CEO David Jacob, who will become chairman.

Sanderson at BlackRock served as Head of Financial Services Consulting, EMEA, Co-Head of Multi-Asset Investment Solutions in EMEA, and COO for BlackRock Solutions in EMEA.

"At GAM, he will be focused on further simplifying the business and concentrating on areas of recognised expertise where GAM has competitive edge in order to put the business back on a growth trajectory," it said in a statement.

(Reporting by Michael Shields)