Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Post-Pioneer, Amundi Freezes Hiring and Plans Cuts Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 11, 2017

Post-Pioneer, Amundi Freezes Hiring and Plans Cuts

News summary by MFWire's editors

The multinational asset manager that just bought Pioneer is freezing hiring and planning job cuts. Yet it's unclear how many cuts will come on this side of the pond.

Amundi CEO Yves Perrier has frozen hiring now that the Pioneer deal has closed, Chris Newlands of the British Financial News reports. The acquisition closed last week, and in the U.S. Amundi combined Amundi Smith Breeden with the Pioneer Investment Management USA arm to form Amundi Pioneer Asset Management [profile], led by Pioneer US chief Lisa Jones.

Back in February, news broke that Perrier plans to cut about 450 jobs worldwide post-merger, which translates to nine percent of the 5,000 combined jobs in Amundi and Pioneer. Now Perrier has laid out the rough timetable for those cuts, at least at a high level.

"The idea is to implement front office reductions by the end of this year," Perrier said, Financial News reports. "Cuts to support functions — such as the back office, the middle office and IT — will come in 2018."

"Everything is on track," Perrier said.

Yet perhaps old Pioneer and Amundi Smith Breeden employees here in the U.S. have less to worry about from the integration, given that Pioneer in the U.S. is a big mutual fund business while Smith Breeden is an institutional manager.

Financial News promises to reveal more this coming Monday, when they publish a full interview with Perrier. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use