Aberdeen plans job cuts but investment staff unaffected

Emerging market turmoil causing significant outflows

Aberdeen Asset Management is set to announce job cuts in its annual results as the group completes its integration of SWIP, although investment roles will be protected.

The company employs over 2,400 people, 500 of whom were added following its  acquisition of Scottish Widows Investment Partnership (SWIP) from Lloyds Banking Group in April last year.  According to the Financial Times, chief executive Martin Gilbert (pictured) has said he wants to work on "controlling costs", but investment staff would be unaffected. "No investment roles will be touched but we will look to do more in terms of controlling our costs," he said. Odey shorts Aberdeen on fears of further outflows A spokesperson for Aberdeen said the job cuts would be kept to a minimum...