Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 Potential US rate rise, cheap oil & the Europe opportunity

Potential US rate rise, cheap oil & the Europe opportunity

This week we analyse the implications of a possible rise in US interest rates, the impact of cheap oil and the European equity opportunity.  

Play Carmignac's Crowl: what QE could mean for Europe

Carmignac's Crowl: what QE could mean for Europe

The ECB is widely expected to finally fire its QE gun this week. Carmignac's Sandra Crowl discusses the implications for the eurozone.

Play Grexit worries, currency wars and a grizzly outlook for 2015?

Grexit worries, currency wars and a grizzly outlook for 2015?

The first Investment Pulse of the year looks at the potential impact of Greece leaving the euro, volatility in currency markets and the UK’s economic prospects.

Your Business: Cover Star Club

Profile: DIY investing is biggest threat to industry, says Whitechurch

Profile: DIY investing is biggest threat to industry, says Whitechurch

The industry is at risk of pushing potential investors down the DIY route unless it does more to make its services accessible says the Whitechurch Securities boss

Wealth Manager on Twitter