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
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter