December 4, 2019 / 1:04 PM / 3 days ago

UK's Merian Global Investors to restructure, cut jobs

LONDON (Reuters) - UK asset manager Merian Global Investors is planning to restructure its business and is consulting with employees about job losses “across a number of functions”, it said on Wednesday.

“Against a very difficult market environment, we have conducted a review,” Chief Executive Mark Gregory said in a statement.

“This is not a decision we have taken lightly, and will mean the loss of some very talented colleagues who have contributed significantly to the success of the business.”

Merian, created through a private equity-backed buyout from Old Mutual in June 2018, has around 230 employees.

Reporting by Sujata Rao, Carolyn Cohn and Simon Jessop

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