Skandia Investment Group has announced it will relocate all its UK staff to London from Southampton by 2013 following an internal business review.
Currently 57 staff are located in Southampton, two thirds of SIG UK staff, the firm says it is hoped most of the Southampton staff will move to London.
As a result of the review, 13 roles have been cut and 13 new specialist roles created. The firm says individuals affected by the cuts will be offered alternative opportunities where possible.
Skandia Investment Group 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.”