View more on these topics

BlackRock to slash 400 jobs

Board-Room-Meeting-Room-Business-700

BlackRock is to cut 400 jobs in the coming weeks as the asset manager redirects resources to growing areas of the business.

The reductions at the £3.1trn money manager equal around 3 per cent of the firm’s 13,000 employees. The firm is expected to announce details of the cuts over the coming weeks.

It is understood the cuts will be evenly split across the regions and a range of business areas. However, it remains unclear how the UK business will be affected.

BlackRock declined to comment.

This is not the first time the fund manager has moved to reduce staff numbers. In 2013, some 300 employees lost their jobs after a shake-up in the investment units at the firm.

Since 2013 headcount has increased by around 2,500.

Recommended

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]

Andrew-Bailey-Conference-Alt-2013-700x450.jpg
10

PRA boss warns housing crash would hit retirement savings

PRA chief executive and incoming FCA boss Andrew Bailey has warned savers investing in property to fund their retirement could be at risk if house prices slump. Yesterday, the PRA proposed new minimum underwriting standards for the buy-to-let sector, arguing that the market is defined by short-term interest-only mortgages that leave consumers vulnerable to hikes […]

House-Keys-Mortgage-Estate-Agent-700.jpg

PRA proposes minimum buy-to-let underwriting standards

The Prudential Regulation Authority wants to strengthen buy-to-let underwriting standards by insisting on a minimum level of stress testing to ensure loans remain affordable when rates rise. A consultation paper on the future of buy-to-let underwriting says the market is defined by short-term interest-only mortgages that leave consumers vulnerable to hikes in base rate. The […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com