View more on these topics

Another senior departure at Aviva Investors

Aviva Investors global head of products Jeremy Soutter is the latest big name to leave the firm following a restructure of its global workforce.

Soutter joined Aviva in 1999, he was previously technical director at Henderson from 1990 to 1997.

His departure follows that of Aviva Investors chief executive of the UK funds business John Clougherty last week.

In January, Aviva Investors announced it was to cut 160 jobs worldwide in a bid to reduce its presence in the retail space, with its London-based European, emerging markets, global and SRI equity desks closing.

The group is cutting its global workforce by 12 per cent with the bulk of the job losses in London.

The firm will stay active in the fixed income, real estate and multi-asset sectors.

In February, Money Marketing revealed that Aviva Investors’ sustainable and responsible investment team and £1.1bn fund range are set to be sold off as part of the firm’s move to reduce its retail presence.

In March, it emerged that Aviva Investors head of European equities John Botham would also leave the firm.

A spokeswoman for Aviva Investors says: “We are taking a more global approach to product development, in line with the growing needs of our institutional clients. This activity will be managed closely with our product strategy and product development teams and as a result Jeremy Soutter is leaving the business.”

Recommended

New name, same old problems

The IMA mixed investment 20-60 per cent shares sector, formerly cautious managed, has bounced back after a torrid time over the past few years. Yet the spread of returns suggests there still remains a lack of homogeneity within the sector. Over the past three years, the average return of the 239 funds in the sector […]

17

MAS sets out spending plans for £46.3m advice budget

The Money Advice Service has outlined its “spending priorities” for 2012/13 and has confirmed it plans to spend almost half of its £46.3m annual advice budget on marketing and brand awareness. The MAS has published its 2012/13 business plan today, which confirms its total budget has gone from £43.7m for 2011/12 to  £80.8m for 2012/13. […]

Nationwide and Lloyds cut proc fees

Nationwide Building Society and some Lloyds Banking Group brands have cut procuration fees. Money Marketing understands Nationwide cut its proc fees for directly authorised intermediaries by two basis points, from 0.35 per cent to 0.33 per cent, from April 2. Appointed representatives are not affected. Nationwide confirmed the cut but not the new proc fee, […]

20

FSA refuses to back down on simplified advice

The FSA has refused to relent on its stance on simplified advice, saying it will carry the same liability and have to meet the same qualifications and adviser charging rules as full advice. The regulator has published its final guidance on simplified advice today, following a consultation paper last September. It states the suitability standards […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment