Hornbuckle Mitchell is closing its Cheshire office, putting 35 jobs at risk.
The pensions administrator says the decision was made following a review of its geographic footprint in the UK. The office will close in May.
Hornbuckle will retain its offices in Edinburgh and Leicester and is also considering opening a new office in London.
Hornbuckle Mitchell senior executive David White says: “We will be closing the Cheshire office by the end of May but all staff affected by this decision have been offered relocation to Leicester.
“If they do not wish to do that then we will go through the redundancy process with them.
“We will be setting up a specific team in Leicester to take on administration of the schemes which were previously run from our Cheshire office.”
Hornbuckle recently confirmed two private investors, Phil Smith and Richard Wohanka, had bought a 60 per cent stake in the business.
White says plans to close the Cheshire office were already in place before Smith and Wohanka joined the firm.