Wealth manager Williams de Broë declined to confirm media reports that it was shedding staff from Kaupthing Singer & Friedlander, the investment management business it has recently purchased.

Russell Bussey, head of the firm’s wealth management intermediary sales team, is to depart the firm through redundancy as his role is already being fulfilled at the acquiring organisation. A Financial News report suggested that he would be followed by around 15 other staff.

A spokeswoman for the firm said that the firm was realigning its cost base on an ongoing basis, but would not be drawn on job losses when contacted by WealthBriefing.

Kaupthing Singer & Friedlander was acquired by Williams de Broë, the wealth management arm of Evolution Group, in October following the Icelandic bank’s default.

Recent months have seen a series of redundancies and departures from KSF.  In October 74 members of its UK staff, mostly investment bankers, were made redundant, meanwhile defections to rival firms have been ongoing.

Just prior to the announcement of the Williams de Broë purchase, four private client fund managers, Robert Walker, Paula Forecast, Phil Gent and Oliver Pearson-Lund left KSF to join Jupiter Asset Management.

Soon after were a series of departures from the business development team: Brian Fairclough departed for Vestra Wealth and Phil Degan joined boutique private bank Duncan Lawrie, while Richard Nunnely relocated to Scotland and David Scott retired.

London-based firm Close Private Asset Management also gained Andrew Buss as an investment director in October’s exodus from KSF.