GLG's Grieves to depart after group begins retail review

GLG is making a number of redundancies at the group after beginning a rationalisation of its retail ...

GLG is making a number of redundancies at the group after beginning a rationalisation of its retail business following the recent SGAM UK takeover. Investment Week understands Technology Equity fund manager Hugh Grieves is the highest profile manager departing GLG, alongside around 70 redundancies from the current 450 staff across the integrated business. The majority of the departures will come from back office and support functions, which saw a sizeable overlap following the completion of SGAM UK acquisition last month. GLG's fund rationalisation programme will allow the group to br...