Abrdn axes a fifth of multi-asset workforce
Stephen Bird: reshaping the company
Abrdn, the Edinburgh-based asset and wealth manager, is cutting about a fifth of the staff in one of its divisions as chief executive Stephen Bird continues to reshape the company.
It is offering voluntary redundancy to at least 27 staff in its 144-strong multi-asset team.
A spokesman for the company told Bloomberg that no funds would close as a result of the departures and that the changes were signalled earlier this year.
Abrdn last year launched a review into its multi-asset arm, which oversees £180 billion in assets.
Multi-asset chief investment officer, Aymeric Forest, left the business in February shortly after the review was launched.
It was announced that Russell Barlow would assume responsibility for working with the team to redesign the end-to-end investment process.