AXA IM removes regional sales reps amid restructure

AXA IM removes regional sales reps amid restructure

AXA Investment Managers has restructured its sales team in response to changing client habits after the pandemic.

FTAdviser understands the group will no longer have regional sales representatives, instead serving clients with a ‘national’ approach.

A spokesperson for AXA IM said the company undertook a market survey at the end of last year, and decided that the wholesale client team needed to be modernised.

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They said: "We have noticed that clients needs and working habits have changed recently and post lockdown they wanted a far more flexible, often digital and responsive interaction with their fund managers."

Three members of the group’s UK wholesale sales team have already left the firm.

The restructuring includes the addition of nine hires, five in direct client facing roles and four in supporting roles.

The spokesperson said: “At AXA IM we remain committed to the UK wholesale market.

“We are making these changes in order to engage with our clients in a more flexible and accessible manner, and build on deepening our relationships with existing clients.”

Darius McDermott, managing director of Chelsea Financial Services, said: “It is good to see AXA IM’s continued commitment to the UK market. 

“While carrying out a minor restructure they are actually increasing their sales force which is positive in the current market place.”