In an attempt to scale down it’s UK-based international sales team, Axa Wealth has made seven roles redundant, International Adviser reported..
The roles are being made redundant include two account director positions and five international development manager positions, reveals the report.
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In a statement, Axa said it "hoped" to redeploy the effected people within the company and had created seven new roles within its platform, bank and adviser divisions, which it said will "better meet the demands of the evolving post-RDR market".
Axa said: "Due to the recently implemented RDR, the financial services sector, including the offshore market, has and will continue to undergo many changes and AXA Wealth International has always committed to evolving its business to best suit the needs of advisers.
"Axa Wealth International remains committed to the offshore advisory market and I am confident that these changes strengthen our relationships in these key market segments."
An Investment Week report further revealed that there will no longer be any international development manager roles at Axa Wealth International in the UK and only one account director.
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