GAM Holding AG's GAM Investments has hired Alex Zaika as managing director for Australia amid plans to open a new office in Sydney.

The new office will expand the Switzerland-based asset manager's global presence to 14 countries, according to a press release.

As of March 31, GAM managed A$5.2 billion for Australian institutional and wholesale clients out of A$221.0 billion in group assets under management.

Zaika, who will join GAM on July 23, will be based in Sydney and will report to Rossen Djounov, managing director and head of Asia for the group. Zaika joins the company from BlackRock Inc., where he has been serving as head of wealth for iShares Australia, according to his LinkedIn profile.