Several senior back office compliance and governance staff at Architas look set to depart the firm ahead of the UK business’s acquisition by Liontrust Asset Management, with some jobs at “risk of redundancy” as the firm ends regulated activity in the country.
The firm's heads of compliance, COO business management and investment governance were among those who have taken to LinkedIn over the past week to announce they would be looking for new career opportunities ahead of Architas' £75m sale by parent company Axa, announced earlier this month.
Liontrust's acquisition of Architas is set to create a multi-asset multi-manager business with £6.6bn in assets under management and advice, led by Liontrust's John Husselbee with Architas' Sheldon Macdonald named deputy head of multi-asset.
It was announced at the time that Architas' UK distribution team will move to Liontrust, but further details of staff integration were scarce.
Head of compliance Robert Truby took to LinkedIn last week to announce he would "likely" be available from the end of October, and would be looking for positions in "compliance (advisory, monitoring or generalist) and internal audit, either on a permanent or contract basis".
Similarly, head of COO business management Lisa Laybourn said last week: "With the sale of Architas, I am likely to be available from October for senior CASS/operations/operational risk roles. Permanent or contract."
She was joined by CASS [Client Assets Sourcebook] manager Shaun Frost who said the sale of Architas meant he "will be available from October for CASS/operations roles" on a permanent or contract bassis.
Head of investment governance Steve Allen said yesterday (13 July): "With the announcement of the sale of Architas' UK business, I will most likely be available for a new role later in the year.
"Something interesting with an investment governance / fund oversight / control type of role.
"Full time or flexible, permanent, consultancy or fixed term."
An Architas spokesperson said: "The sale of the UK investment business means Architas will no longer have regulated activity in the UK.
"Staff whose roles are predominantly aligned to the UK investment business will be impacted by this sale and will transfer to Liontrust or be put at risk of redundancy.
"As with any major announcement, our priority is to ensure our staff receive the best possible support through these challenging circumstances. The exact details are subject to a consultation period with those employees who will be affected by the sale.
"Following completion of the transaction, the UK will remain a critical hub for the global Architas business."