UK fund manager Friends Ivory & Sime will cut its staff by up to 30% following its acquisition of Royal & SunAlliance's (RSA) investment arm earlier this year.

The fund manager said that after losses the final headcount will be 525 to 550, down from around 750 when the two firms came together earlier this year.

Friends Ivory & Sime to cut one in three staff

Alistair Graham

Royal & SunAlliance

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