Origen cuts 17 roles in RDR restructure

Aegon-owned advisory business Origen is to cut 17 roles following a review of its client service delivery and cost base.

The cuts will not impact Origen's 90-odd advisers, but will affect management and support staff positions.

Origen said the review was part of ongoing plans to ensure the business is prepared for the Retail Distribution Review (RDR) and the current economic climate. It added it will not be making any significant changes to its client proposition.

There will also be a number of key staff changes. Bob Diamond, previously responsible for corporate clients in the South East, has been appointed to head up Origen's national corporate client business.

Kevin O'Farrell, who joined from Barclays this year with responsibility for South East private clients, will now lead Origen's national private client business, while Warren Page, director of client services, has resigned having accepted a new role outside of the company.

Origen said it also intends to relocate its Canterbury office to a different location in Kent.

Mike Kirsch, managing director, Origen Financial Services, said the changes represented nothing more than "good housekeeping".

"It is a pretty tough place to be an IFA these days," he said. "We must live within our means.

"The changes will make sure we are much fitter and better placed to be successful in the future."