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Skandia Investment Group planning move to London

Skandia Investment Group is to relocate all its UK staff to London from Southampton by 2013 following an internal business review.

A total of 57 SIG staff are in Southampton, which makes up two-thirds of the firm’s fK workforce.

Skandia says it hopes most of the Southampton staff will move to London.

A total of 13 roles have been cut in the review and 13 new specialist roles have been created. The company says individuals affected by the cuts will be offered alternative opportunities where possible.

Chief operating officer Marc Bulstrode says: “The refocusing of our organisational structure will enable us to further strengthen our investment management and distribution capabilities, improve speed to market and continue to deliver high-performing investment solutions to our customers.”

Skandia’s Southampton office has around 1,600 staff in total.

Pilot Financial Planning director Ian Thomas says: “Although the move would be costly, it makes sense to be in London because it is easier to find quality staff and the company will be closer to the rest of the investment management community.”

In September, Skandia cut 86 jobs from its operations team.

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