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Rating:Transamerica Investment Management Dodges the Ax Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 03, 2010

Transamerica Investment Management Dodges the Ax

Reported by Neil Anderson, Managing Editor

It looks like Transamerica's [see profile] mutual fund business won't be suffering cuts in Aegon's planned U.S. headcount reduction. On Wednedsay the Dutch multinational revealed plans to slim down by 400 to 500 jobs in the U.S. over the next two years (see The MFWire, 12/3/2010). A company spokesman subsequently confirmed that Transamerica Investment Management won't be directly affected.

Aegon spokesman Matt O'Rourke told The MFWire.com that the company will reduce its Louisville, Kentucky headcount from about 400 to about 120 over the next two years, while about positions in the Cedar Rapids, Iowa back-office will be affected when that operation is combined with one in Pennsylvania. None of those positions are part of Transamerica Investment Management, which includes Aegon's U.S. mutual fund business.

The Cedar Rapids facility handles printing and mailing, mostly for the life insurance business, so the impact of that move on the mutual fund business should be minimal. 

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