City fund manager cuts a fifth of staff amid rise of AI

Octopus Investments will place 130 roles at risk of redundancy as it moves to streamline operations - Audrius Venclova/iStockphoto A leading City fund manager is set to cut a fifth of its staff to keep pace with rapid AI changes upending the asset management industry. Octopus Investments, which manages nearly £15bn, is to put 130 roles at risk of redundancy in an effort to streamline its operations, City sources said. Most of the roles are understood to be back-office positions. The company employs just ...