ING Investment Management is laying off staff as its acquisition by UBS Asset Management takes effect from October 4, Financial Standard reports. Nearly 36 employees have been asked to leave till date, effective September 30 for some and March next year for others. The move comes as certain positions will no longer be needed once the takeover is complete, due to duplications in roles with incoming UBS staff. UBS had announced the takeover plans on June 30, taking its funds under management from a little more than $14 billion to $48 billion.
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