The all-stock merger between UK active fund manager Henderson Group and Janus Capital Group will result in job losses of up to 10%, according to soon-to-be CFO Roger Thompson. The cuts come as the deal, set to close in May, is expected to save $110m, with $80m anticipated for the first year. The deal, which involves a combined $320 billion in assets, is the latest tie-up of active managers under rising pressure from stronger performing passive investment providers. In a statement, Thompson said that “while we are disappointed by this outcome, it does not change our commitment to delivering value through our investment management business.”
The all-stock merger between UK active fund manager Henderson Group and Janus Capital Group will result in job losses of up to 10%, according to soon-to-be CFO Roger Thompson. The cuts come as the deal, set to close in May, is expected to save $110m, with $80m anticipated for the first year. In a statement, Thompson said that “while we are disappointed by this outcome, it does not change our commitment to delivering value through our investment management business.”