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GAM shareholders block bonuses for senior management at AGM

ZURICH, April 27 Shareholders in GAM Holding on Thursday blocked the Swiss asset manager's plan to pay up to 16 million Swiss francs ($16.1 million) in bonuses to the company's executive management team.

In a binding vote at the Zurich-based money manager's annual general meeting, 64.83 percent of shareholders voted against the proposed bonuses.

Shareholders in Switzerland were given veto power over executive and board compensation following a referendum on the issue in 2013.

($1 = 0.9935 Swiss francs) (Reporting by Joshua Franklin, edited by John Revill)

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