Investing

Clients pull more than €16 billion from Abrdn amid job cuts

The firm said last month it plans to cut around 500 jobs as part of a sweeping overhaul to save the investment firm up to £150 million in costs

Abrdn has seen a large outflow of client money over the last year. Picture: Getty

Clients of fund manager Abrdn have pulled £13.9 billion (€16.24 billion) from the company over the last year, the firm announced.

It came as the fund manager and wealth specialist saw its pre-tax loss shrink to £6 million for last year, reducing from a £612 million loss.

The firm said last month it plans to cut around 500 jobs as part of a sweeping overhaul to save the investment firm up to £150 million in ...