Merian Global Investors, a UK fund manager spin out of Old Mutual two years ago, is launching a cost-cutting restructuring of its business that will involve some staff leaving the firm.

In a statement on December 4, Merian’s new chief executive Mark Gregory — whose move to the top job was announced in January — said he and his team had “conducted a review of our business to ensure we are positioned as efficiently as possible”, and concluded that “the business will undergo a restructure”.