Abrdn is cutting around a fifth of the staff in its multi-asset fund management division.
It is offering voluntary redundancy to at least 27 people in the 144-strong team.
A spokesperson for the Edinburgh-based financial services firm explained: “Earlier this year we announced that Russell Barlow would assume responsibility for working with the Multi-Asset Investing Team team to redesign the end-to-end investment process, with a core focus on simplification and the establishment of a solid foundation from which we can scale and grow the offering.
“The starting point for the redesign was an open acknowledgement of the need for change, any restructuring decisions have and will be as a direct result of collaboration and engagement.
“The end state will ensure we have a strong, client-led proposition and the building blocks to ensure we are future fit.”
No funds are set to close as a result of the redundancies.
Last year, abrdn launched a review into its multi-asset division, which manages around £180bn worth of assets.
Multi-asset chief investment officer Aymeric Forest left the business in February shortly after this review was launched, with Barlow assuming responsibility for redesigning processes.
Chief executive Stephen Bird has been working to simplify the group, offloading certain divisions and strengthening others with new acquisitions over the last couple of years.
The last half-year results revealed that the group is targeting net cost savings in the investments division of circa £75m over the period to 2024.
Restructuring costs are expected to be circa £150m during this full year, with additional restructuring costs associated with the investments division expected to be broadly funded by proceeds from disposals of non-core assets.
Bird's strategy has been to diversify by refocusing the investments business into areas of strength, "where we have scale and that lean into global growth trends" and also expand abrdn's reach in the UK wealth market.
Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.
