GAM veteran portfolio manager Andrew Green will retire from active fund management and take on a new role as director of global equities strategy at the end of the year, the firm has announced.

As a result of the change he will step down from managing funds he has overseen for 34 years, but will continue to look after a few select mandates.

Green will be handing over the management of the GAM Global Diversified fund and the GAM UK Diversified fund to colleagues at the firm.

Ali Meramadi, who joined the firm after the acquisition of the UK boutique THS, will be responsible for GAM Global Diversified fund from 1 January 2018.

In the meantime, Chris Morrison and Adrian Gosden, the latter of whom joined from Artemis in September 2017, will take over the GAM UK Diversified fund.

Commenting on the development, group CEO Alexander Friedman said: ‘Throughout his professional life spanning nearly 50 years in finance, Andrew has gained legendary status in the industry.’

'His investment philosophy has helped to create GAM’s conviction-led culture, forming one of the core principles on which our brand is built today.'