Nigel Kiernan, UK equity manager, and Mark Allanson, UK equity analyst, have left Baring Asset Management, according to sources at the firm.

The departures come as senior industry sources said that dozens of staff had lost their jobs at BAM in a round of redundancies. A BAM spokeswoman declined to comment on any redundancies. She denied that Jan Mantel, chief investment officer for the UK and Europe, was among the departures, and said he was on holiday.