With fees shrinking due to increased competition and market returns under pressure, now is not a good time to be in the asset management business.
Schroders Investment Management are thought to be in the throes of reducing headcount by up to 600.
Top Fund Managers Face Cull
At least three asset management businesses are thought to be currently up for sale - Barclay's Global Investors, Commerzbank's Jupiter Asset Management and the fund management arm of Royal & SunAlliance. The lack of interest by buyers could force the companies to axe staff in a bid to reduce costs unless a purchaser appears quickly on the scene.
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