Baring Asset Management is on the lookout for a London-based Japanese equities team, as it centralises its developed markets equities teams in the UK capital and becomes the latest large fund manager to search for talent amid widespread job cuts in the industry.

Joji Maki, the head of Japanese equities based in Tokyo, will remain with the firm until a new team is established in London. The process should be completed by the middle of next year, according to a spokeswoman for Barings.