Aviva Investors, the funds arm of British insurer Aviva, is to slash 6% of its global staff, including few senior managers as part of a restructuring.
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This will amount to around 60 jobs which will include the head of credit Mark Wauton and the head of equity solutions Iyad Farah.
Additionally, Dinesh Pawar, who is a manager in the credit team, is also departing from the firm.
However, Aviva Investors will not cull any of its funds as part of this review.
An unidentified Aviva spokesperson was quoted by IBTimes UK, saying: "Our key objective is to significantly improve profitability by focusing on capabilities and propositions that build on our heritage in managing long-term savings.
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By GlobalData"To achieve this, there are certain changes we need to make to our products and structure. We have had to give the difficult message to some of our colleagues that they will be leaving the business," spokesperson added.
