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Larry Hatheway

Larry Hatheway is group head of investment solutions and group chief economist overseeing GAM's private clients, charities, multi asset and alternative investments solutions teams.

Until December 2018 he was also a member of GAM Holding AG's Group Management Board. Prior to joining GAM Investments in September 2015, he was managing director and chief economist at UBS Investment Bank. He was UBS’s global head of macro strategy from 2008 to 2012 and global head of asset allocation from 2000 to 2012. Larry was also UBS’s global head of fixed income and currency strategy. Before joining UBS in 1992, he held roles at the Federal Reserve, Citibank and Manufacturers Hanover Trust. Larry holds a PhD in economics from the University of Texas, an MA from the Johns Hopkins University, and a BA from Whitman College.

Related Articles

  • 19 June 2019

    Multi Asset Perspectives: Fixed income fantasies

    The asset allocation committee met to discuss the investment outlook as the second quarter draws to a close. Here are their key conclusions.

  • 11 June 2019

    We’re all active now

    The active versus passive debate has become a key consideration when constructing portfolios. GAM Investments’ Larry Hatheway argues that while an emphasis on low cost is important, investors should also actively focus on solutions that deliver genuine diversification and loss avoidance.

  • 23 May 2019

    Multi Asset Perspectives: Too early to re-enter

    This month, the asset allocation committee investment outlook discussion took place against a more challenging backdrop of renewed trade tensions and decelerating global earnings growth. The committee’s key conclusion is that fundamental support for global equities (and credit) is waning. We believe that a defensive stance remains warranted and it is premature to re-engage in risk assets.

  • Larry Hatheway on Markets

    16 May 2019

    Larry Hatheway on Markets: Can equity gains be sustained?

    GAM Investments’ Larry Hatheway outlines his latest multi-asset views, discussing whether markets are behaving as anticipated this year, what catalysts could change this and what the implications are for asset allocation.

  • 16 April 2019

    Multi Asset Perspectives: stocks/bonds conundrum

    The asset allocation committee met to discuss the investment outlook for the second quarter of 2019. A summary of their key conclusions follows.

  • Larry Hatheway on Markets

    28 March 2019

    Larry Hatheway on Markets: Seeking an earnings story

    GAM Investments’ Larry Hatheway outlines his latest multi-asset views, discussing whether a pullback in markets appears less likely than it did at the turn of the year, the main threats to an improvement in markets and the potential catalyst for investors to re-engage more fully in risk assets.

  • 19 March 2019

    Multi asset perspectives: Cautious, yet optimistic

    Earlier this month the asset allocation committee met to discuss the investment outlook. Investor nerves are once again being tested by poor news. Tactically, we adopted a more cautious approach in mid-February, which we retain. Yet we also conclude that fundamentals are likely to improve, albeit not just yet.

  • Larry Hatheway on Markets

    28 February 2019

    Larry Hatheway on Markets: Opportunity in emerging markets

    GAM Investments’ Larry Hatheway outlines his latest multi-asset views, discussing what comes next after January’s strong rally in global equity markets, where he sees opportunities in the market and the key implications for asset allocation going forward.

  • 21 February 2019

    Multi asset perspectives: Scaling back

    Earlier this month the asset allocation committee met to discuss the investment outlook following the strong January equity market rally. The clear consensus was that it is time to scale back exposure to global equities, given the unsustainable bounce witnessed early this year. A brief summary follows.

  • Larry Hatheway on Markets

    29 January 2019

    Larry Hatheway on Markets: a year of modest returns?

    GAM Investments’ Larry Hatheway outlines his latest multi-asset views, discussing whether we could be looking at a year of modest returns and higher volatility, how important non-directional strategies are likely to be and the risks to his base case.

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