F&C Asset Management, the company formed from the merger of F&C with Isis Asset Management, has Shed more staff. Stephen White, head of its European desk, is the most senior to go in a reshuffle of the European equities desks. It brings the number of departures today to 14.

These have been prompted by the company's move to a pan-European desk structure. This is a new development for both F&C and Isis, both of which have traditionally operated separate UK and European equity teams. The change has seen headcount on the desk cut from 54 to 40.