Global investment manager Abrdn will cut more local jobs after a review of its Australian and New Zealand businesses, but declared it “remains committed” to the local funds management scene.

Abrdn Australia chief executive Brett Jollie said the £376 billion ($669 billion) firm’s local workforce would “certainly come down” from the 43 staff it employed currently, as it hands over the reins of its Australian equities funds and financial adviser sales operations to the Melbourne-based SG Hiscock & Co.