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Skandia directors told to re-apply for jobs

Skandia’s nine top UK sales directors have been told that they will have to re-apply for only three jobs in the same week that Old Mutual announced it wants to buy the company.

At a meeting led by Skandia UK sales director Simon Burgess, the company’s nine regional sales directors were told that there were only going to be three area sales director jobs as part of a restructure of the sales team. The unsuccessful applicants are expected to be offered regional sales manager positions.

Burgess says there is a review going on of the existing sales structure, which has been in place for 25 years. He says he is creating 12 new roles, adding a new management tier rather than getting rid of jobs, to maintain focus in the UK market. As far as Burgess is concerned, the restructure is overdue and it is the job that people do, not their job title, that is important to him.

Lowland managing director Graeme Mitchell says: “Having to re-apply for your own job is becoming a trend in the industry. It is a sign of the times with many companies looking at rationalising their costs.”


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Norwich Union launches Manager of Managers funds with Aon

Norwich Union has appointed Aon Asset Management to select managers for its new range of manager of manager funds.The new range of funds will comprise Income, Cautious, Balanced and Growth funds, and will be available across Norwich Union’s Oeic, Isa and life products. The funds will be launched on 23 May 2005.Aon was chosen by […]

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