Columbia Threadneedle plans to put off many of the portfolio managers and analysts on three fairness funding groups in the US because the agency seeks to chop prices. The asset supervisor confirmed that 14 portfolio managers will exit the agency at 12 months’s finish.
“The asset administration trade is experiencing vital change and we’re taking motion to handle our enterprise thoughtfully, with a concentrate on prudent expense administration and operational effectivity,” a agency spokesman instructed ThinkAdvisor by e-mail Friday, confirming a narrative that appeared on Citywire on Thursday.
“We’ve made a strategic choice to streamline our funding assets in areas the place now we have duplication and the place we imagine making portfolio administration modifications can also be in the most effective curiosity of our shoppers.”
The agency, which is a part of Ameriprise Monetary, is making personnel modifications to 3 U.S.-based fairness funding groups: Acorn Worldwide, Built-in Fairness and Small Cap Worth II.
