Job reductions at Henderson

Michael Bow
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MONEY manager Henderson is on the verge of cutting a number staff roles in some parts of its business, as asset managers continue to face increased cost pressures.

It is thought up to nine per cent of roles could be cut at the business but that it would look to invest in more jobs in the future, according to client demands.

Asset managers are increasingly coming under pressure from shareholders to trim margins.

In its last interim results, Henderson posted a £79m underlying pre-tax profit and an operating margin of 36.8 per cent.

The firm was up nearly one per cent in trading yesterday.