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.

Henderson to slash jobs in cost-cutting drive

Henderson to slash jobs in cost-cutting drive

Henderson Global Investors is looking to make the business more efficient with plans to slash jobs before the year-end.

The fund management group has launched a consultation across its front and back offices in a move which designed to streamline the business and ensure it is better placed for future growth.

A spokesperson for Henderson said the company's strict cost discipline would allow it to invest in core areas of the business.

'Whilst there are likely to be headcount reductions in some parts of our business we will also continue to invest in other areas where we see future client demand,' he added.

The move follows Henderson's acquisition of Gartmore back in 2011, which saw the firm take on a number funds and led to rationalisations across its fund range.

In its most recent interim management statement covering the third quarter, chief executive Andrew Formica (pictured) also made reference to the firm's cost discipline, saying: 'Our cost discipline allows us to continue to invest in the business and enhance the service we provide to our clients. This means that we are well positioned to benefit from any improvements in investor sentiment.'

Over the third quarter the firm posted a £1.2 billion inflow, taking total funds up to £64.8 billion at the end of September.

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 JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter