Amvescap PLC will eliminate 300 back-office posts in San Francisco and 300 more overseas as it consolidates LGT Asset Management into its preexisting business units.
Back-office operations for GT Global, the mutual fund subsidiary of LGT, will be combined with those of AIM Management Group, which is based in Houston.
Amvescap, the parent of Invesco and AIM, bought LGT this year in a $1.3 billion deal.
The 300 U.S. jobs will be cut by September, said Robert McCullough, chief financial officer of Amvescap. He said the cuts would not all come from the GT Global side but declined to elaborate. GT's sales force took buyouts and left the company at the end of May as the sales operations were transferred to Houston from San Francisco.
The newer round of layoffs does not involve investment professionals or those responsible for building client relationships, Mr. McCullough said.
The other 300 jobs will be cut overseas as Amvescap merges LGT's operations with those of Invesco.