Asset manager Liontrust has confirmed it has approached the board of GAM with a view to taking over its Swiss rival’s business and merging it with its own to create an asset manager with around £100bn in AUM.

One of the UK's best known equity fund manager Robin Geffen is to leave Liontrust as the firm executes a major shake-up of its global equity teams.

Revenues increased 41% to £231m for asset manager Liontrust for the year ending 31 March 2022.

Liontrust Asset Management has completed its £120m acquisition of smaller rival Majedie Asset Management.