ZURICH, April 27 Shareholders in GAM Holding
on Thursday rejected proposals by activist hedge fund
investor RBR Capital Advisors to shake up the Swiss money
manager's board of directors.
In votes at GAM's annual general meeting, shareholders
rejected RBR's three board proposals, which were part of a
broader effort to cut costs at GAM and replace Chief Executive
RBR, which has said it owns close to 5 percent of GAM
shares, had said it would scrap its attempt to revamp the
company if it did not get enough shareholder backing at the AGM.
(Reporting by Joshua Franklin; Editing by Michael Shields)