Economy

Janus Henderson cuts 100 jobs as it races to savings target

Adjusting for acquisition costs, inc0me across the combined business stood at $114.2 million, 18% lower than $139.8 million in the second quarter.

Net income on a non-adjusted basis rocketed to $99.5m in the third quarter of the year, from $53.4m in 2016, and the group announced a third-quarter dividend of $0.32 per share.

Janus Henderson job cuts have contributed to cost synergies exceeding expectations five months on from its merger.

This is higher than the initially-expected figure of $85m.

Headcount reduction was named in the asset manager's Q3 results as the largest contributor to $72m of savings from cost synergies.

Janus Henderson, the dual-listed U.S. and Australian fund manager that completed its merger in May, is on track to beat its annual cost savings target having cut around 100 staff. The previous guidance was $110m.

The London headquartered, US- and Australia-listed firm drew in net inflows of $700m between July and September, with equities, alternatives and fixed income leading the way.

'We are encouraged by the levels of engagement, support and relationships developing with clients, globally'.

"The expansion of our long-standing strategic partnership with BNP Paribas into the United States will provide the firm with a consistent global platform to support growth".



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