ANNUAL REPORT 2009 - GAM Holding AG

For Information on compensation, loans and share and option holdings of the Board of Directors and Senior Management, see pages 114 – 119.
The loans granted to key management personnel consisted of lombard loans on a secured basis (through pledging of the securities portfolios)
and mortgage loans on a fixed and variable basis.
All loans were granted by Bank Julius Baer & Co. Ltd. to 1 October 2009. Since the separation of the former Julius Baer group on 1 October
2009 no such loans have been granted by GAM Holding Ltd. or any of its subsidiaries.
Other financial services are transacted at arm’s length.
Investments in associates
At 31 December 2009, the Group had a 27.9% interest in Artio Global Investors Inc., a company that provides investment management
services to institutional and mutual fund clients. In 2008 Artio Global Investors Inc. had been fully consolidated.
The fair value of the Group’s interest in Artio Global Investors Inc., which is listed on the New York Stock Exchange since 24 September 2009,
is CHF 441.5 million as at 31 December 2009.
The reporting date of Artio Global Investors Inc. is 31 December.
The following table illustrates summarised financial information of the Group’s investment in Artio Global Investors Inc.:
31.12.2009
CHF 1000
Carrying amount of the investment 463 373
Summary financial information of investments in associates
Total assets 204 716
Total liabilities 200 600
Equity 4 116
01.01.-31.12.2009
CHF 1000
Revenue 332 752
Profit or loss -394 257
82 GAM Holding Ltd. Annual Report 2009