Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Aviva Investors clarifies intermediary stance after jobs cull

Aviva Investors clarifies intermediary stance after jobs cull

Aviva Investors has clarified its position regarding the intermediary market, after its snap announcement on Monday that it was planning a scale back in its offering that would lead to the axing of around 160 jobs worldwide.

Aviva Investors said it is not withdrawing from the UK retail market entirely, after revealing yesterday it would be cutting 12% of its workforce with the majority of cuts in London.

A spokesperson for the firm said: ‘Aviva Investors remains committed to supporting and aligning its investment management activities to the needs of Aviva Group Companies and in particular UK retail.

‘While Aviva Investors proposes to shift emphasis of its external market engagement to focus on institutional clients it will continue to provide investment management support to meet the needs of Aviva’s UK retail funds such as Oeics, life and pension funds.’

In its initial announcement, Aviva Investors said it will be focusing on fixed income, real estate and multi-asset solutions, while concentrating its sales and marketing forces on its institutional business.

The cuts and refocus are part of a move to streamline the business to bolster its competitive edge amid the economic downturn.

The move follows the conclusion of a comprehensive business review fronted by Aviva Investors CEO Alain Dromer, and endorsed by the Aviva Group board, to focus on ‘core areas of strength.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: from Batman Live to commodity beta

Profile: from Batman Live to commodity beta

Charteris may be a family affair, but the company is not at any risk of turning sentimental

Wealth Manager on Twitter