The Swiss investment house has bolstered its multi-asset capabilities with a high-level hire from UBS.

Switzerland-listed GAM has appointed UBS's Larry Hatheway in the newly-created role of group chief economist.

Hatheway, previously managing director and chief economist at UBS Investment Bank, will lead a centralised macroeconomic competency for GAM's multi-asset class solutions (MACS) business. He has also served as UBS's global head of asset allocation from 2000 to 2012. Hatheway brings expertise in a number of macroeconomic topics, including the state of deleveraging, fiscal and structural adjustment in advanced economies, and trend growth drivers in emerging economies.

Based in London, he will work closely with Graham Wainer, the business's group head of investments, and the MACS investment team, to help determine its global asset allocation strategy as it applies to pension funds, high net worth individuals, family offices, charities, endowments and their advisors.

"Larry is an exceptional investment professional who is one of both the top economists and asset allocators in the industry. He will be a tremendous asset to GAM and to our clients. Increasingly, clients look not only for investment solutions and asset allocation decisions, but also deep insight into market dynamics,” said Alexander Friedman, group chief executive.

“Markets continue to present formidable challenges and opportunities. Larry's extensive macroeconomic knowledge and investment expertise will meaningfully enhance our existing capabilities in determining profitable strategies for our various MACS clients,” said Wainer.