Nick Pogmore, the head of strategic alliances at Ignis Asset Management, has been made redundant and up to 20 staff have been put on consultation as part of a review of the firm’s distribution roles.
Pogmore joined Ignis in November 2009 and was responsible for developing relationships with UK fund platforms, life offices, national IFAs and advisory networks. He joined from M&G where he was partnerships development director from 2003 to 2008.
An Ignis spokesman says: “We are not looking to replace Nick Pogmore. There has been a blurring of buying patterns in the wholesale and retail markets and we ended up with two people covering the South-west. As a result, Pogmore’s role has been made redundant.”
Brian Gratton, the director of fund sales, is now covering the South-west.
Ignis says the redundancy is part of a wider review into distribution roles across the London and Glasgow offices, which has seen up to 20 roles put at risk of redundancy. The spokesman says: “There will be a two-week consultation and some people will be offered new roles at Ignis and others will be made redundant.” (article continues below)
Adrian Lowcock, senior investment adviser at Bestinvest, says: “There have been a lot of changes at Ignis. Fund managers are reviewing key parts of the business and that includes distribution.”