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June 19, 2018

Axa IM to axe over 200 jobs in major restructure

Axa Investment Managers (Axa IM), the asset management unit of French insurer Axa, has announced plans to slash up to 210 jobs as part of a major overhaul. The move would affect up to 40 jobs in the UK and 160 in France.

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As part of the restructure, the company would have a new operating model based on four pillars, namely client relationships, core investments, alternative and specialty investments and transversal support functions.

AXA IM expects €100m in savings from the restructure and said that the savings will be reinvested in ESG integration, advanced data analytics, as well as quant and data science skills.

The revamp, which is expected to be concluded by the end of this year, will also include various changes to the management board.

These include the appointment of Hans Stoter to replace fixed income head John Porter who is quitting the firm. Stoter will also take charge of the firm’s multi-asset client solutions business on an interim basis after the exit of Laurence Boone.

In addition, the company appointed Matthew Lovatt as its new global head of Framlington Equities, replacing Mark Beveridge.

Axa IM CEO Andrea Rossi said: “I believe the steps we are looking to take not only respond to our industry challenges in terms of customer centricity but also provide AXA IM with an inspiring vision and roadmap for the future.

“Accelerating our strategy as an active manager thanks to new ways of operating and a simpler organisation, notably in the alternative investment space, while becoming even stronger in core investments will foster sustainable growth for the ultimate benefit of all our stakeholders.”

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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