Dutch money manager MN has launched a four-year cost-cutting and efficiency program in the Netherlands that will include the loss of more than 200 full-time jobs, said a spokeswoman for the firm.
It could not be learned how many, if any, investment positions will be part of that reduction.
“While achieved efficiencies will lead to a reduction in overall staff levels, there are no planned changes to the U.K. team and MN’s strategy to grow its U.K. business remains unchanged,” said a statement from the firm.
MN employs about 1,250 people across the Netherlands and U.K., and has more than €92 billion ($114.1 billion) in assets under management.
Further details on the restructure were not available by press time.